Binance has entered a new chapter after appointing co-founder Yi He as co-CEO. She now shares the top job with Richard Teng, who took over the role in late 2023. The move strengthens Binance’s leadership bench as the exchange pushes for stronger global compliance and broader Web3 expansion.
Yi He Steps Into Shared Leadership Role
Binance announced the appointment on stage at Binance Blockchain Week, marking a defining moment for the exchange. Richard Teng said the decision came naturally, as Yi has shaped Binance’s vision since launch. She helped build the company’s culture, guided product design, and expanded its global community. Her rise to co-CEO now formalizes what many insiders long recognized.
Yi brings crypto-native instincts. She co-founded Binance in 2017 with Changpeng “CZ” Zhao and has played key roles across marketing, operations, and customer growth. She understands traders, creators, and builders who drive Web3 adoption. Teng stressed that her leadership reflects Binance’s roots and its push for user-first innovation.
Teng brings a different edge. He spent decades in regulated financial markets and took charge of Binance after CZ resigned due to U.S. legal troubles. He aims to improve compliance, rebuild trust, and make Binance the most regulated exchange. Together, they blend two perspectives: crypto-first creativity and regulatory discipline. Yi said this balance will guide Binance through a pivotal phase as it expands global operations and builds more resilient infrastructure.
A New Era of Growth, Compliance, and Vision
Yi He’s appointment signals a shift in how Binance wants to scale. The company faces a complex regulatory landscape, yet demand for secure and efficient crypto platforms continues to rise. Teng said they aim to reach one billion users by improving trust, strengthening safeguards, and building products that feel simple and secure. Yi’s role is to push innovation and expand the community while ensuring users stay at the center of every move.
The new leadership team forms at a crucial time. CZ stepped down in 2023 after pleading guilty to U.S. money-laundering violations. Teng maintained the exchange’s stability during that transition, guiding Binance into a phase that requires careful navigation. Yi brings continuity and fresh momentum. She has spent more than eight years at Binance and recently served as Chief Customer Service Officer. Her experience across teams will help shape fast decisions and a clear strategy.
Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself.
Binance is no longer a baby. It is…
— CZ 🔶 BNB (@cz_binance) November 21, 2023
Moreover, the appointment reflects Binance’s attempt to build future-proof systems. The exchange sees Web3 infrastructure as the next frontier. Yi and Teng want to fuse compliance with innovation so the company can grow without friction. They also aim to restore confidence in global markets, which continue to closely monitor Binance. Their shared leadership aims to settle concerns, broaden access, and push crypto toward wider adoption.
Binance now steps forward with two leaders who understand where the industry came from and where it is headed. With Yi bringing the builder’s mindset and Teng anchoring regulatory clarity, the exchange positions itself for a more stable and ambitious future.
