Binance has just made it official: it is restructuring its management. We are referring to co-founder Yi He who becomes co-CEO. A role that she now shares with Richard Teng! This decision marks a new milestone for the crypto exchange, at a time when it is targeting one billion users worldwide.
In brief
- Yi He becomes co-CEO of Binance to strengthen the innovation and community vision of the crypto exchange.
- Binance opts for dual governance, combining strict regulation and massive expansion of its services.
Yi He, discreet architect of Binance, rises to the top
Present since the genesis of the Binance crypto exchange in 2017, Yi He embodies a native vision. Before Binance, she had already co-founded OKCoin (now OKX). Enough to assert its place among the pioneering figures of the crypto ecosystem.
At Binance, she led:
- brand strategy;
- community growth;
- initial fundraising.
She notably contributed to bringing the valuation of the crypto platform beyond 3 billion dollars. Since 2022, she has managed Binance Labs. This is the venture capital arm of the exchange. She would have owned at least 10% of a holding company registered in the Cayman Islands, according to the press release.
Yi He also structured the user-oriented product strategy that is now at the heart of the growth of Binance.
A co-direction designed to balance regulation and crypto innovation
The Yi He – Richard Teng tandem embodies a strategic shift for Binance. Since the resignation of CZ in November 2023, Richard Teng (former regulator at the Monetary Authority of Singapore) has indeed led a profound transformation. His appointment, hailed as a choice of continuity, reassures global crypto regulators.
While Teng structures regulatory compliance, Yi He maintains product agility and community spirit. Especially since Binance is now developing services intended for institutions :
- independent custodianship via BBVA;
- acceptance of BlackRock's digital liquidity fund as collateral;
- crypto-as-a-service solution for banks and licensed brokers.
In any case, Binance seems to be moving towards two-headed governance to navigate a changing crypto ecosystem. This model could inspire other Web3 industry giants seeking to balance compliance and disruption.
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