Binance Co-Founder Yi He Named as Co-CEO Alongside Richard Teng
Binance, the popular cryptocurrency exchange, recently made a significant announcement by appointing its co-founder Yi He as co-CEO, alongside Richard Teng. Teng, who has been the firm’s sole CEO since November 2023, welcomed He into this new role during a conference appearance in Dubai.
He, who is also the life partner of Binance co-founder Changpeng Zhao, has been an integral part of the executive leadership team since the inception of Binance. This appointment marks a natural progression for He, who is expected to guide the organization towards further success under the leadership of Teng.
Despite the speculation, Zhao has confirmed that he will not be returning to Binance, stating that he is retired and looking to move forward in life. Together, Teng and He will focus on building Web3 infrastructure to empower individuals in a more open and fair financial system.
Binance’s Continued Mission and Growth
In a statement posted on Binance’s official platform, the company reiterated its commitment to broadening access to cryptocurrency, protecting users, and accelerating safe adoption worldwide. Since its establishment in 2017, Binance has grown to serve nearly 300 million global users, solidifying its position as a leading player in the crypto market.
He expressed her honor in working alongside Teng, highlighting their combined experience and diverse perspectives that will drive sustainable innovation and global expansion. The duo is dedicated to leading the industry forward during this pivotal time, with a strong focus on putting users at the center of their initiatives.
Introducing Binance Junior
During his speech in Dubai, Teng also announced the launch of Binance Junior, a supervised digital finance app designed for users aged 6 to 17. This parent-controlled platform aims to educate children and teenagers about digital finance in a safe and engaging manner, preparing them for the financial world of tomorrow.
Teng’s leadership at Binance began in 2023 when Zhao stepped down from his position. The exchange made headlines by agreeing to pay a substantial $4.3 billion to various regulatory bodies to resolve violations related to financial laws and regulations.
While Zhao faced legal challenges and subsequent pardon, He stood by his side, advocating for leniency and highlighting the startup’s lack of legal expertise during its early days. The couple, who share three children, navigated through turbulent times, with He playing a crucial role in shaping Binance’s culture and driving innovation.
Conclusion
As Binance continues to evolve and expand its offerings, the appointment of Yi He as co-CEO underscores the company’s commitment to growth and innovation. With a focus on building a more inclusive financial system and empowering users, Teng and He are set to lead Binance into a new era of development and progress.
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