In a significant leadership announcement made on stage at Binance Blockchain Week, Binance CEO Richard Teng revealed that co-founder Yi He has been appointed as co-CEO, sharing the top role with him. Teng described the move as "a natural progression," noting that He has been integral to the executive team since Binance's launch in 2017.
The roles have been clearly divided to leverage each leader's expertise: Yi He will oversee marketing, branding, and all customer-facing operations, building on her previous role as chief marketing officer. Meanwhile, Richard Teng will concentrate on regulatory compliance, legal affairs, and government relations, crucial areas as Binance navigates a complex global regulatory landscape.
Yi He, a crypto native who co-founded Binance alongside Changpeng “CZ” Zhao, emphasized that the co-CEO structure combines two very different perspectives—her community-driven approach and Teng's experience in regulated financial markets. This appointment comes after Richard Teng was named CEO in late November 2023, following CZ's resignation and guilty plea to U.S. Department of Justice charges.
Analysts highlight potential regulatory scrutiny due to Yi He's personal relationship with CZ, with whom she has children, though she has stated her personal and business lives are completely independent. The co-CEO model is seen as a strategic shift aimed at balancing growth with governance, offering specialized focus and risk mitigation for the world's largest cryptocurrency exchange.
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