December 05, 2025
By Our Correspondent
Binance has appointed co-founder Yi He to lead its evolution from a crypto-to-crypto trading platform into a global blockchain ecosystem, joining CEO Richard Teng at the top of the organisation.
Yi, who currently serves as chief customer service officer, will expand her role as the company pushes toward an ambitious goal: reaching one billion users. Binance says it now serves roughly 300 million.
“This appointment is a natural progression,” Teng said on Wednesday. “She will continue to guide the organization from strength to strength.”
Yi has been at the heart of Binance since its founding in 2017 by Changpeng Zhao. Before Binance, she helped launch the Chinese exchange OKCoin and became a prominent figure in China’s crypto scene — earning the nickname “first sister” of the industry in national media. Yi and Zhao have been longstanding partners and share three children.
Zhao stepped down in 2023 after Binance admitted to violating U.S. anti-money-laundering laws. He later pleaded guilty to related charges and served four months in prison, while the company paid a US$4.3 billion fine. Former President Donald Trump pardoned Zhao in October, opening the possibility that Binance could attempt a return to the U.S. market.
Despite the turmoil, Yi remained the stabilizing force inside Binance, serving as Zhao’s closest lieutenant since day one. In a post on X, Zhao praised her appointment, saying she “should have been CEO from the very beginning” and reiterated that he will not return to leadership: “I am retired.”
Binance remains the world’s largest digital asset exchange by users and trading volume, with an average daily turnover of US$65 billion. Earlier this year, Abu Dhabi–based MGX acquired a minority stake with a US$2 billion investment — paid entirely in cryptocurrency.
