Binance on Wednesday named co-founder Yi He as co-chief executive officer after the exchange moved to stabilize leadership following Changpeng Zhao's departure.
Leadership Shift Marks A New Phase For Binance
According to Bloomberg, Yi He will share the top role with Richard Teng, who has served as CEO since November 2023.
Her appointment represents the company's most significant leadership change since Zhao resigned after pleading guilty to anti-money laundering and sanctions violations.
Zhao was pardoned by U.S. President Donald Trump in October, removing a major source of regulatory uncertainty that had weighed on Binance's global operations.
Analysts told Bloomberg that the pardon may allow Binance to scale its U.S. presence again.
Yi He Steps Forward After Years Behind The Scenes
Yi He has long held influence inside Binance despite maintaining a low public profile.
She previously described herself as the company's chief customer service officer.
She also played a key role in building the BNB Chain ecosystem, including BNB (CRYPTO: BNB), ChainLink (CRYPTO: LINK), Shiba Inu (CRYPTO: SHIB), etc., managing institutional relationships, and overseeing major acquisitions, including CoinMarketCap.
Teng built his reputation as a regulator in Singapore and has strengthened Binance's compliance foundation since taking over.
His efforts focused on expanding internal controls and restoring regulatory confidence after years of scrutiny.
Binance Looks To Rebuild Trust After Regulatory Setback
Binance once captured more than half of global spot trading volume.
Its dominance faded after regulators worldwide intensified pressure in late 2023, leading to a US$4.3 billion settlement with U.S. authorities.
Zhao later served four months in jail and was released in September 2024.
Yi He's elevation signals a shift toward a more balanced leadership model.
Binance said the co-CEO structure will support global regulatory engagement while expanding core markets for digital assets.
The company said Yi He will guide Binance through its next phase of development by strengthening its global regulatory foundations.
Legal Challenges Continue Despite Leadership Reset
More than 300 victims and family members of the October 7, 2023, Hamas attack sued the exchange last month, alleging it "knowingly facilitated" cryptocurrency transactions tied to the group.
Zhao and senior executive Guangying Chen were named as defendants.
Yi He was not included in the suit, and Binance has not commented publicly on the allegations.
It isn't immediately clear how the leadership restructuring will affect ongoing legal risks.
Read Next:
Image: Shutterstock
