Photo: depositphotos.com

Binance Holdings Ltd. on Wednesday announced the appointment of a new CEO – one of the co-founders of the exchange, Yi He, said LIGA.net the company's press service.

Yi He will serve as co-CEO and share the position with current CEO Richard Teng, who called the decision a "natural step" in the company's development that will "drive the organization to new successes."

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Yi He and Richard Teng (Photo: Binance)

Binance noted that Yi He, along with Teng, will be responsible for strategic development, strengthening the global regulatory framework, and further building a transparent and sustainable platform for digital assets. Bloomberg indicatesbehind the scenes, He has long played a key role: she is credited with the rapid growth of the BNB Chain ecosystem, as well as overseeing the institutional direction and major acquisitions, including CoinMarketCap.

The appointment came shortly after U.S. President Donald Trump pardoned the previous CEO of Binance Changpeng Zhao. He had previously pleaded guilty to violating anti-money laundering rules, was sentenced to four months in prison and agreed to a $4.3 billion settlement with the US government.

According to He's profile on the social network X, before her appointment, she served as the director of customer experience. She and Zhao founded the exchange in 2017 and have children together.

  • In 2023, the U.S. Securities and Exchange Commission (SEC) will has filed a lawsuit against Binance and its founder Changpeng Zhao in June 23, accusing them of artificially inflating trading volumes, misusing customer funds, and misleading investors about control mechanisms.
  • In 2025, after the change of power in the United States, the commission voluntarily closed the casewhich the market perceived as a "victory for cryptocurrencies."