Cryptocurrency exchange Binance has appointed co-founder Yi He as co-CEO alongside Richard Teng, establishing a dual leadership structure as the company enters its next phase of growth.
Binance leadership changes
Binance said Yi He and Richard Teng will jointly lead the company as it continues to strengthen its global regulatory framework and expand its operations. The exchange added that its core mission remains unchanged, including widening access to cryptocurrencies, protecting users, and supporting the safe adoption of digital assets worldwide.
Yi He has been part of Binance’s executive leadership since its inception and most recently served as chief customer service officer. She has played a central role in the expansion of BNB Chain and has overseen key areas such as institutional client operations and major acquisitions, including CoinMarketCap.
Zhao’s legal background
Richard Teng was appointed CEO in 2023 following the departure of Binance founder Changpeng Zhao. Zhao pleaded guilty to violating US anti-money laundering laws as part of a $4.3 billion settlement, paid a $50 million fine, and served roughly four months in prison before being released in September 2024.
In October, Zhao received a pardon from US President Donald Trump. Analysts have suggested the pardon could help Binance strengthen its US presence, although its American operations remain organizationally separate from the global exchange.
Zhao, a Canadian citizen born in China, lived there until the age of 12. Yi He is a former Chinese travel television host. The two were previously romantically involved and have children together.
Forbes valuation
Changpeng Zhao’s net worth was estimated at $78.8 billion as of December 3, 2025, ranking him as the world’s 22nd richest person, according to Forbes.
