Binance has appointed its cofounder Yi He as co-CEO, a leadership shift announced on stage at Binance Blockchain Week in Dubai as the exchange approaches 300 million users worldwide.
The move places Yi He, one of Binance’s original architect, alongside Richard Teng, who became CEO one year ago and has led the company through an era focused on regulatory compliance, operational restructuring, and rebuilding trust across global markets.
Teng called Yi’s appointment a “natural progression,” emphasizing her long-standing influence on the company’s product strategy and culture.
“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,” he said.
Teng reiterated that the company remains committed to becoming “the most trusted and regulated exchange in the world,” adding that Yi’s expanded role is central to Binance’s strategy as it pushes toward a long-term goal of onboarding one billion users into Web3.
Yi He, who previously led Binance’s branding, product, and user-growth engines, said she is “honored” to step into the co-CEO position.
“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,” she said.
Yi’s elevated role solidifies her influence over user growth, product development, and strategic expansion as Binance works to scale its infrastructure and Web3 ecosystem.
The company now claims nearly 300 million users globally, making the appointment one of Binance’s most significant organizational updates since its founding.
Changpeng Zhao, commonly known as CZ, resigned as Binance CEO in November 2023 after pleading guilty to violating the Bank Secrecy Act by failing to maintain an effective anti-money laundering program at the world's largest cryptocurrency exchange. The billionaire founder agreed to pay a $50 million personal fine while Binance paid $4.3 billion in penalties to resolve federal charges that included enabling transactions with sanctioned jurisdictions and operating an unlicensed money-transmitting business. Federal prosecutors sought a three-year sentence, arguing Binance operated on a "Wild West" model, but a Seattle judge sentenced Zhao to four months in prison in April 2024, citing his cooperation and lack of direct fraud.
He completed his sentence by September 2024. On Oct. 23, 2025, President Donald Trump granted Zhao a full presidential pardon, erasing his conviction and restoring his civil rights, a move the White House described as ending what it called a "war on cryptocurrency".