Binance Names Yi He Co-CEO in Leadership Shake-Up Aiming to Fuel Global Growth

Binance's Leadership Transition and Strategic Expansion

Binance, the world's largest cryptocurrency exchange, has announced that Yi He, one of its co-founders, has been appointed co-CEO alongside Richard Teng. This marks a major leadership shift for the company following the departure of its original founder, Changpeng Zhao, who stepped down in 2023. Yi He will now play a central role in guiding the platform's growth as it aims to reach one billion users.

Yi He has been a key figure at Binance since its inception, transitioning from chief marketing officer to chief customer services officer before taking on the new co-CEO title. She led the strategy to transform Binance from a crypto-to-crypto trading platform into a global blockchain ecosystem. Teng, in a statement, described the appointment as a "natural progression," emphasizing Yi's role in shaping the company's vision and operations according to the company announcement.

The decision comes as Binance works to rebuild its global presence and strengthen its regulatory compliance. Yi's deep understanding of the company's user base and market dynamics positions her to lead efforts in scaling the platform responsibly while maintaining its user-first approach. The company currently has nearly 300 million users and handles $65 billion in average daily trading volume.

A Leadership Transition After Scandal

Changpeng Zhao, better known as CZ, resigned as CEO in 2023 after Binance pleaded guilty to violating U.S. anti-money laundering laws. The company was fined $4.3 billion, and Zhao served four months in prison before being pardoned by U.S. President Donald Trump in October 2025 according to regulatory filings. Since then, Zhao has distanced himself from the company, stating on social media that Yi should have been CEO from the beginning and that he is "retired."

Yi He, meanwhile, has remained unaffected by the turmoil. As the co-founder and former chief lieutenant of Binance, she oversaw operations and strategy during a period of intense regulatory scrutiny. Her steady leadership helped maintain the company's operational continuity while it navigated legal and compliance challenges. The dual leadership model with Teng reflects Binance's intent to maintain a strong governance structure as it moves forward according to industry analysts.

Strategic Expansion and Investment Boost

Binance has also announced plans to expand its services to ultra-high-net-worth investors through a new private banking-like offering called Binance Prestige. This initiative targets investors with as much as $10 million in assets, providing them with tailored financial services such as custody, structured products, and capital financing. The service emphasizes Binance's growing ambition to cater to a broader spectrum of crypto investors while remaining distinct from traditional banks according to market analysis.

The company recently secured a $2 billion investment from the Abu Dhabi-based MGX fund for a minority stake, according to financial reports, further fueling its global ambitions. This investment, made entirely in cryptocurrency, underscores Binance's financial strength and appeal to institutional investors. The platform is also exploring ways to enhance its offerings for wealth planning, including potential inheritance strategies according to industry experts.

The Road Ahead for Binance

With Yi He and Richard Teng at the helm, Binance is focusing on scaling its global user base, strengthening compliance, and expanding its product offerings. The platform's recent initiatives reflect its determination to regain trust and maintain its position as the leading cryptocurrency exchange by trading volume and user numbers. Yi's leadership, combined with Teng's regulatory expertise, positions the company to navigate a rapidly evolving industry landscape.

As Binance works toward its goal of one billion users, the company will likely face increased scrutiny from regulators and market participants. However, with its recent strategic moves and leadership realignment, Binance appears to be taking a proactive approach to managing its future growth in a responsible and sustainable manner.