 
 
Yi He, the businesswoman who co-founded the digital asset exchange behemoth Binance with its former chief Changpeng Zhao, has been appointed as the company’s new co-CEO.
He, who previously served as Binance’s Chief Customer Service Officer, has largely stayed out of the public eye until now. Unlike Zhou (fondly known as “CZ”), who frequently makes public appearances, He prefers to operate behind the scenes, focusing on strategic planning, branding, and business expansion.
Richard Teng, who will continue to serve alongside Yi He as co-chief executive of Binance, announced the news of the leadership change at Binance Blockchain Week in Dubai on Wednesday.
“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,” Teng postulated in a statement. “This appointment is a natural progression, and she will continue to guide the organization from strength to strength.”
Yi, born in 1988 in China, joined Binance just before its launch in 2017. She has been widely deemed as the strategizing and innovation stalwart, complementing CZ’s leadership, as Binance evolved to become the world’s largest crypto exchange.
 
“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,” Yi He stated. “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.”
Binance’s CZ took to X to congratulate the new co-CEO. “[Yi He] should have been the Binance CEO from day 1,” he opined. “Great journey ahead with two strong leaders (with complementary skills) leading Binance.”
Speculation about CZ’s return to a leadership role at Binance reached fever peak in October after U.S. President Donald Trump pardoned the crypto billionaire. Zhao pleaded guilty to violating US money laundering laws in 2023 and completed his four-month prison sentence in September 2024. Still, no announcement has been made yet regarding Zhao’s potential return.