Binance Appoints Co-Founder Yi He as Co-CEO

Binance has appointed co-founder Yi He as Co-CEO alongside Richard Teng, marking a dual leadership structure as the exchange nears 300 million global users.

The announcement was made by Teng during Binance Blockchain Week in Dubai.
Yi He, who co-founded Binance with Changpeng Zhao in 2017, previously held roles as Chief Marketing Officer and Head of the investment division.
Binance aims to reach one billion users, having grown from 280 million users by July 2025.

Leadership Transition Context

Richard Teng became CEO in November 2023 after Zhao pleaded guilty to failing to maintain an adequate anti-money laundering program.
Binance paid $4.3 billion in penalties to the US Department of Justice and Treasury Department as part of the settlement.
Changpeng Zhao retains a 90% ownership stake but is barred from executive positions due to the settlement terms.
Zhao received a presidential pardon in October 2025 and now holds advisory roles in Kyrgyzstan and Pakistan.
The leadership change follows partnerships with major financial firms, including Franklin Templeton, to develop digital asset products.