Binance Names Yi He as Co-CEO, Joining Richard Teng in Dual Leadership Structure
Binance has begun a fresh chapter in its leadership story by placing Yi He, one of the architects behind the exchange’s creation, into the co-CEO position.
Key Takeaways
- Binance co-founder Yi He has been elevated to co-CEO, joining Richard Teng at the top of the company.
- The two executives bring sharply different careers – Teng in regulation and finance, Yi He in crypto-native entrepreneurship.
- Binance continues extending its reach into institutional services, custody partnerships, and regulated infrastructure.
Her move into the role signals a reshaping of the company’s internal power structure — one that formalizes the influence she has carried since Binance’s earliest days.
The announcement arrived during Binance Blockchain Week, where Richard Teng revealed that he would now share the top executive position with her. Instead of casting the decision as a shift in direction, Teng framed it as an acknowledgment of responsibilities Yi He has long shouldered behind the scenes.
A Crypto Veteran Meets a Markets Regulator
The new dual-CEO model brings two completely different professional histories under one banner. Yi He’s background is anchored in the digital asset world: she co-founded two major exchanges — Binance in 2017 and OkCoin (now OKX) in 2014 — and later became the force behind Binance Labs, the company’s venture arm. She has also overseen branding, business development, and major fundraising efforts that propelled the exchange’s early success.
Leadership Update:
We are delighted to welcome Binance co-founder @heyibinance into her new role as Co-CEO.
Yi has always played an important role, shaping our culture, driving innovation, and championing a user-first approach across our entire ecosystem.
Her leadership has… pic.twitter.com/CqsuTkb0gc
— Binance (@binance) December 3, 2025
Teng’s path took a more traditional route. Before his arrival at Binance, he spent over a decade at the Monetary Authority of Singapore after starting at PwC, eventually taking on senior regulatory roles. His appointment as CEO in 2023 came after Changpeng Zhao’s resignation, placing him in charge during the exchange’s most turbulent regulatory period.
Yi He said the two leaders offer different instincts: one from the world of policy, the other from crypto’s frontier. Binance believes that combining those perspectives strengthens its positioning as global regulation tightens.
A Company Pivoting Toward Institutions
The leadership update coincides with Binance’s continued shift toward institutional-grade services. Over the past year, the exchange has launched products designed for traditional finance players entering crypto for the first time. Its concierge service for family offices and funds opened in November, aimed at clients seeking private guidance rather than retail-facing tools.
Another push involves reducing counterparty risk for large clients. Binance now accepts BlackRock’s USD Institutional Digital Liquidity Fund as off-exchange collateral — allowing institutions to trade while keeping their assets with third-party custodians.
The company has also spent the last quarter building infrastructure for regulated entities. Its “crypto-as-a-service” platform gives banks, brokerages, and exchanges the ability to integrate digital asset offerings directly into their existing systems. In parallel, a partnership with BBVA positions Binance as an independent custodian for the Spanish bank’s client funds.
A Leadership Structure Built for the Next Phase
Yi He’s elevation to co-CEO formalizes a reality that has existed for years inside Binance: her influence has shaped operations, strategy, and direction long before the title caught up. With Teng providing regulatory grounding and Yi He steering product, branding, and innovation, the company is entering a new stage defined by shared leadership rather than a single central figure.
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Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
