Yi He, Arguably Crypto's Most Powerful Woman, Becomes Binance’s New Co-CEO

What to know:

• Yi He’s co-leadership role will also complement the steady hand of Teng, a former regulator who has guided the firm through recent enforcement actions.
• Yi He’s innovative and user-focused approach has been instrumental in shaping the company’s vision, culture, and bottom-up business strategy, said Binance CEO Richard Teng.

Yi He, the businesswoman who co-founded cryptocurrency exchange giant Binance with its former leader Changpeng Zhao, is to be co-CEO of the company, Binance's CEO Richard Teng announced on Tuesday at Binance Blockchain Week.

Yi He, who has held the position of head of marketing at Binance, has stayed out of the limelight until now. Unlike Zhou (commonly known as “CZ”), who often appears in public, Yi He chooses to operate quietly, focusing on strategic planning, branding, and business expansion.

Born in 1988 in China, He is widely regarded as the strategizing and innovation powerhouse complementing CZ’s leadership, as Binance grew to become the largest crypto exchange on the planet.

A spokesperson for Binance said He's co-leadership role will also complement the steady hand of Teng, a former regulator, who has guided the firm though U.S. enforcement actions and the removal of CZ as CEO.

“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,” said Binance CEO Richard Teng. “This appointment is a natural progression and she will continue to guide the organization from strength to strength.”

“We remain dedicated to being the most trusted and regulated exchange in the world, always putting our users first. Yi plays a critical role in growing our community and driving product innovation as we work to reach one billion users. Together, we are focused on building the Web3 infrastructure and promoting financial freedom, empowering people to participate in a more open and fair financial system,” Teng added.

“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,” said Yi He. “Together, we bring diverse perspectives and are confident in leading the future of the industry during this pivotal time, as we responsibly expand our global presence and drive sustainable innovation with our users always at the center.”