Binance has announced the elevation of co-founder Yi He to the position of co-CEO, placing her alongside Richard Teng in a formal leadership capacity. This development was shared during Binance Blockchain Week, where Teng emphasized Yi He's significant contributions to the company since its inception. He described her new role as a "natural progression," acknowledging her vital role in the executive leadership team.
Prior to her co-CEO appointment, Yi He served as Binance's chief marketing officer, where she was pivotal in expanding the platform's community and spearheading product innovations. Yi He expressed that sharing the CEO responsibilities with Teng would leverage their diverse experiences. Teng, with his background in regulated financial markets, complements Yi He, a crypto native who played a foundational role in creating Binance and Okcoin, now known as OKX.
Richard Teng took on the CEO role at Binance in late November 2023, following the resignation of co-founder Changpeng "CZ" Zhao, who stepped down amid legal issues with the US Department of Justice. Before his current role, Teng was responsible for overseeing Binance's regional markets outside the United States.