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Binance has promoted co-founder Yi He to Co-CEO, formalising a dual leadership structure alongside Richard Teng as the exchange approaches 300 million users globally. The announcement was made live on stage at Binance Blockchain Week in Dubai.
Yi He, Co-CEO, Binance
Binance said the move recognises Yi He’s role in shaping the company’s product roadmap, culture and community since launch. She has been one of the core architects of the group’s “bottom-up” strategy and user-first positioning as it has grown into the world’s largest digital asset exchange by trading volume and users.
Richard Teng, who became CEO in 2023 following the leadership transition after founder Changpeng Zhao stepped down as part of a U.S. settlement, will now share executive responsibilities with Yi He as Binance continues to scale and respond to global regulatory expectations.
Teng said the appointment was a natural evolution of Binance’s leadership, highlighting Yi He’s influence on the firm’s long-term vision, culture and user experience. He emphasised that her expanded remit is intended to help Binance “guide the organisation from strength to strength” as it grows both its retail and institutional franchises.
Binance reiterated that its strategic focus remains on operating as a trusted, regulated venue, prioritising user protection while expanding its Web3 infrastructure. The exchange said Yi He will continue to drive community growth and product innovation as Binance works toward an ambition of reaching one billion users worldwide.
Commenting on her new role, Yi He said she is “honoured” to lead the company alongside Teng, noting his decades of experience in regulated financial markets and early involvement in crypto supervision in his previous regulatory roles. She described the Co-CEO structure as a combination of complementary perspectives that Binance believes will be crucial “at a pivotal time” for the digital asset industry, as it balances global expansion, regulatory engagement and sustainable innovation.
Perhaps of greater concernt to institutions, asset managers and professional traders, the appointment further formalises a leadership model that pairs a market-structure and regulatory specialist (Teng) with one of the company’s original founders and product strategists (Yi He). Binance positioned the change as a step towards building “future-proof” infrastructure for large-scale participation in digital assets and Web3.
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