Binance Co-Founder Yi He Named Co-CEO in Leadership Expansion: A Strategic Shift for the Crypto Giant
Binance CEO Richard Teng Announces Yi He as Co-CEO at Dubai Blockchain Week, Marking a Pivotal Leadership Evolution for the World's Largest Crypto Exchange
In a significant move that reshapes the executive landscape of the cryptocurrency industry's most dominant exchange, Binance CEO Richard Teng announced on Tuesday that co-founder Yi He will assume the role of Co-CEO. The announcement, made during Binance Blockchain Week in Dubai on December 3, 2025, signals a strategic expansion of the company's leadership as it navigates a new era of global regulation and growth. This appointment unites the innovative, user-centric vision of a founding architect with the regulatory expertise of the current CEO, aiming to steer Binance toward its ambitious goal of serving one billion users.
Yi He, the businesswoman who co-founded the exchange with former leader Changpeng Zhao ("CZ"), has historically operated away from the public spotlight, focusing on strategic planning, branding, and business expansion. Her elevation to co-leadership alongside Richard Teng is framed by the company as a "natural progression" for an executive who has been integral to Binance's culture and bottom-up strategy since its launch. This dual-CEO structure is designed to blend her product innovation and community growth focus with Teng's experience in regulated financial markets, as Binance emphasizes its commitment to becoming "the most trusted and regulated exchange in the world."
The Announcement: A New Chapter Begins at Binance Blockchain Week
The setting for this major corporate announcement was symbolic. Binance Blockchain Week in Dubai represents the exchange's global reach and its engagement with the broader Web3 ecosystem. On December 3, 2025, CEO Richard Teng took the stage to formalize a leadership structure that had been evolving behind the scenes. He presented Yi He's new role not as a reaction to external pressures but as a deliberate step to strengthen the company's foundation for future challenges and opportunities.
In his statement, Teng highlighted Yi He's enduring influence: "Yi has been an integral part of the executive leadership team since the launch of Binance. Her innovative and user-focused approach has been instrumental in shaping the company’s vision, culture, and bottom-up business strategy." This framing positions the move as an acknowledgment of her existing authority and a formalization of her central role in guiding Binance's trajectory. The company spokesperson explicitly noted that her co-leadership would "complement the steady hand of Teng," who has guided the firm through significant U.S. enforcement actions and the transition from CZ's leadership.
Yi He: The Strategic Powerhouse Behind Binance’s Ascent
Born in 1988 in China, Yi He has been widely regarded as the strategic and innovative force who complemented CZ's leadership as Binance grew from a startup to the planet's largest cryptocurrency exchange. Unlike CZ, who became one of the most public faces in crypto, Yi He consciously chose a quieter operational style. Her remit has historically encompassed marketing, branding, strategic planning, and business expansion—areas critical to building a consumer-facing platform with a global user base.
Her background as a co-founder grants her a unique institutional memory and deep understanding of Binance's core identity. In her own remarks following the announcement, she stated, "I am honored to build alongside Richard, who brings decades of experience in regulated financial markets and was among the first to regulate crypto in its early days." This statement underscores the perceived synergy of the new partnership: her innate drive for growth and innovation paired with Teng's regulatory acumen. She emphasized their shared focus on leading "the future of the industry during this pivotal time," with responsible global expansion and sustainable innovation centered on users.
Richard Teng: The Steady Hand Navigating Regulation
Richard Teng's tenure as CEO began during one of Binance's most challenging periods, following the removal of Changpeng Zhao as part of a historic $4.3 billion settlement with U.S. authorities. A former regulator from Abu Dhabi and Singapore, Teng was positioned as the ideal leader to steer Binance through a complex web of global compliance requirements and rebuild institutional trust. His prior experience includes roles as CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM) and Director of Corporate Finance at the Monetary Authority of Singapore.
His leadership philosophy has consistently emphasized collaboration with regulators, transparency, and user protection. The appointment of Yi He as Co-CEO allows Teng to continue focusing on these critical regulatory and governance fronts while ensuring the company's aggressive product development and market expansion strategies remain potent. In his announcement, he reiterated Binance's core mission under their joint leadership: "We remain dedicated to being the most trusted and regulated exchange in the world, always putting our users first."
A Dual-Leadership Model: Context and Precedent in Crypto
The co-CEO model is not uncommon in technology and finance, though it is less frequent in the cryptocurrency exchange sector. This structure often aims to combine distinct but complementary skill sets—such as internal product vision and external regulatory strategy—to manage complex, fast-growing organizations. For Binance, this formalizes a division of labor that likely existed informally.
Historically, Binance’s leadership dynamic between CZ and Yi He could be seen as a precursor to this model, with CZ handling broad vision and public communication while Yi He drove key business and strategic initiatives. The new partnership with Richard Teng reconstitutes this balance within a post-settlement framework where regulatory compliance is paramount. The spokesperson’s comment that Yi He will complement Teng’s "steady hand" explicitly acknowledges this intentional balancing act between growth and governance.
The Road Ahead: Priorities for Binance’s Co-CEOs
In their statements, both leaders outlined clear, aligned priorities for Binance’s next phase. Central to their vision is the staggering goal of reaching one billion users, a target that demands both relentless product innovation and seamless operation within diverse global regulatory regimes.
Driving Product Innovation and Community Growth: Yi He’s mandate will heavily focus on this area. Her history as head of marketing and her user-focused approach will be critical in evolving Binance’s product suite—including its spot and derivatives trading platforms, its Web3 wallet, and its Launchpool offerings—to attract and retain a mass audience. Growing and nurturing the global Binance community remains a core part of her responsibility.
Expanding Global Presence Responsibly: Both CEOs emphasized "responsibly expand[ing] our global presence." This involves navigating licensing regimes in new markets while maintaining operations in existing ones. Teng’s expertise will be crucial here, as markets like Europe, Asia, and the Middle East deepen their crypto regulatory frameworks.
Building Web3 Infrastructure: The leaders reiterated a commitment to "building the Web3 infrastructure," which aligns with Binance’s ventures into areas like decentralized storage (BNB Greenfield), layer-1 blockchain development (BNB Chain), and incubation programs. This positions Binance not just as an exchange but as a foundational pillar of the broader decentralized ecosystem.
Promoting Financial Freedom Within a Regulated Framework: This remains Binance’s overarching mission statement. The challenge for the co-CEOs will be to operationalize this ideal in a way that satisfies regulators concerned with consumer protection and financial integrity while delivering on the promise of open access to digital assets.
Conclusion: Consolidating for the Future
The appointment of Yi He as Co-CEO of Binance is a definitive consolidation of power and vision within the exchange’s upper echelons. It moves beyond mere succession planning to establish a durable, complementary leadership structure designed for long-term stability and growth. By formally bringing a founding visionary into shared executive authority alongside a regulator-turned-CEO, Binance is signaling that its future success depends on excelling simultaneously in two arenas: cutting-edge innovation and exemplary compliance.
For users and observers of the cryptocurrency market, this development underscores Binance’s intention to remain a dominant force by adapting its governance to meet the demands of a maturing industry. The era defined solely by disruptive growth is giving way to one balanced by operational resilience and regulatory cooperation. The partnership between Yi He and Richard Tang will be tested on its ability to deliver on this dual promise—maintaining Binance’s competitive edge in products and community while solidifying its standing as a trustworthy, regulated global financial platform.
As Binance Blockchain Week concludes, all eyes will now be on how this new leadership dynamic translates into tangible strategy. Key areas to watch include new product rollouts under Yi He’s guidance, developments in Binance’s regulatory licensing across key markets spearheaded by Teng, and how effectively they communicate a unified vision for navigating crypto’s next pivotal chapter.