Yi He Elevated to Co-CEO at Binance to Propel Web3 Development

Post by : Bianca Suleiman

In a pivotal shift in its leadership, Binance has promoted co-founder Yi He to the role of co-chief executive, partnering with Richard Teng. This strategic move marks a new phase for the major cryptocurrency exchange as it aims to extend its global footprint and enhance engagement in Web3—a decentralized internet model harnessed by blockchain technology.

Yi He has played a crucial role in Binance’s leadership since the company's inception, implementing strategic initiatives that have bolstered growth across various markets. Her elevation to co-CEO is regarded as a crucial step toward reinforcing Binance’s architecture and its standing within the rapidly shifting Web3 landscape.

Richard Teng, who took on the CEO role in 2023 following the legal setbacks faced by founder Changpeng Zhao in the U.S., will collaborate closely with Yi. This dual leadership approach is anticipated to enhance operational productivity and stimulate innovation in blockchain services.

The announcement follows a challenging phase for Binance, during which Zhao—popularly known as CZ—faced anti-money laundering allegations in the U.S. Although he received a pardon from former President Donald Trump in October, his role at Binance remains uncertain.

Experts in the industry highlight that Yi He’s extensive understanding of Binance’s internal operations and global strategy may be instrumental in navigating regulatory hurdles while launching new Web3 offerings. Analysts suggest this leadership partnership could fundamentally reshape Binance’s influence in the crypto and blockchain sector, providing both stability and vision for its global expansion.