Binance has appointed co-founder Yi He as co-CEO, promoting one of its founding members to a formal leadership position alongside chief executive Richard Teng.
In a Wednesday announcement made during Binance Blockchain Week, CEO Richard Teng stated that co-founder Yi He has been named co-CEO. He emphasized that Yi has been a vital part of the executive team since Binance’s inception, describing the move as “a natural progression.”
Teng also mentioned that Yi, who previously served as Binance’s chief marketing officer, plays a crucial role in enhancing the Binance community and fostering product innovation. Yi He noted that sharing the CEO responsibilities with Teng will leverage their distinct perspectives, with Teng offering his expertise in regulated financial markets.
Yi He is a crypto enthusiast who co-founded Binance in 2017 alongside Changpeng “CZ” Zhao.
Richard Teng was appointed as Binance’s CEO in late November 2023, following CZ’s resignation and his guilty plea to charges from the US Department of Justice. Before this, Teng was the head of the company’s regional markets outside of the United States.
