Binance announced a significant leadership shift this week, appointing its co-founder Yi He as the company’s new Co-CEO. The move marks one of the most notable executive changes in the crypto industry this year. The world’s largest cryptocurrency exchange by trading volume is looking to add some new muscle in the face of regulatory scrutiny and intensifying competition.
According to the company, dual leadership should prepare Binance better for the challenges that lie ahead and support ambitious long-term goals.
The addition to the company’s leadership reflects Binance’s effort to strengthen internal governance while maintaining momentum after years of fast-paced development. Yi He, a central figure in the company since its founding in 2017, is widely regarded as one of the driving forces behind Binance’s success.
A Return to Executive Leadership
Yi He has served in several key positions within the company since its inception. She was Senior Vice President of Marketing and one of the architects of Binance’s user acquisition strategy. Lately, she served as Chief Customer Service Officer, as well as heading YZi Labs, formerly known as Binance Labs.
With nearly a decade of industry experience, Yi He is expected to take direct responsibility for several core divisions, so her appointment is not just a symbolic move. Her responsibilities will include global expansion, communication strategy, and user experience design. Richard Teng, in turn, will continue overseeing regulatory compliance, risk management, and institutional finance—areas in which he has deep expertise from his previous roles in financial regulation.
The Co-CEO model is not something we see very often, but experts say that it may help balance the operational load at a time when the crypto sector is evolving at an unprecedented pace. Ever since the incarceration of Binance’s CEO Changpeng Zhao, the company has pursued strengthening compliance programs across multiple jurisdictions. With He’s appointment, Teng will have more time to focus on that part of Binance’s agenda.
A Strategic Move Amid Intensifying Global Competition
Binance’s announcement comes at a time when the crypto exchange industry is more competitive than ever. Both established rivals and newcomers are trying to secure a slice of the expanding market, fostering a highly competitive environment. Across the world, crypto exchanges are rolling out aggressive marketing campaigns, user incentives, and portfolio expansions aimed at capturing global market share.
One of the areas where most exchanges are trying to distinguish themselves from the competition is regulatory compliance. In light of previous scandals, Binance seems more eager than most to do so, which is why bringing someone in to free up Teng to handle it is a smart move. In addition, Yi He’s leadership could further strengthen the exchange’s public image at a time when trust and transparency are essential to retaining both retail and institutional users.
Industry Response and Market Impact
The market reaction to Yi He’s appointment has been largely positive, with social media and industry commentary highlighting her long-standing contributions to Binance’s global success. Several analysts note that the move could help stabilize the company’s long-term vision and reassure users amid ongoing regulatory developments.
In the short term, however, the market impact is expected to remain modest, as the announcement primarily reflects a governance shift rather than a drastic change of direction. In addition, it is still unclear how the Co-CEO model will work and how compatible He and Teng are in their new roles.
Conclusion
The appointment of Yi He as Co-CEO could mark a pivotal moment not just for Binance, but for the broader cryptocurrency industry as well. With two experienced executives at the helm, Binance aims to combine regulatory resilience with innovative, user-centered development and kill two birds with one stone. Of course, that is in theory, and we will have to wait a bit to see how it turns out in practice.
