This is more than a mere business transition but an act of transformation as Binance promotes its long-serving executive and Co-Founder Yi He to the position of Co-CEO.
More than a corporate reshuffle, it is a strong statement about growth, resiliency, and this slow change in face that's been happening across the crypto world.
Yi He has a rather remarkable story. She grew up in rural China, fetching water from wells and using kerosene lamps, her early life dogged by financial constraints.
Through grit and vision and sheer determination, she found her way to university, discovered learning to love, and launched a career that would transport her well beyond the conditions of her upbringing.
Her foray into the world of cryptocurrencies had been unconventional: before starting Binance, she had been working outside of the normal finance track, even as a TV host and marketer.
But the minute she saw crypto's potential for change - financial inclusion, and empowerment - she welcomed the challenge.
It was with her founding involvement in 2017 that Binance scaled up from a fledgling exchange into the world’s largest by trading volume in such a short time span, which few people would have thought possible.
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In the early days, Yi He wasn't the face of Binance-but she was its backbone. While other founders might have chased headlines, she focused on user experience, operations, marketing, and community building. She shaped Binance's culture, helped steer its product roadmap, and built strategies that resonated with millions.
Even as turbulence rocked the company-including the legal downfall of the former CEO-Yi He stayed, steady and resolute. The commitment, resilience, and intimate knowledge of the business made her indispensable.
Her new designation as Co-CEO places her alongside Richard Teng, who has been leading Binance's regulatory and compliance efforts since 2023.
While Richard Teng might deal with regulatory, legal, and administrative frameworks, Yi He will be expected to spearhead product innovation, community growth, and customer-facing operations — the very heart of what made Binance what it is.
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It's not a small thing that, in an industry still dominated by men, a woman, and one who rose from humble origins, is now at the helm of the world's largest crypto exchange. In a space where headlines are usually about tech bros, risk-taking, volatility, and speculation, Yi He brings a different story: one of empathy, community building, and user-first thinking.
Her rise is a harbinger of hope. Hope that crypto, and therefore FinTech and Web3, could be more representative. Hope that leadership will not merely be about loud voices, but strategic vision rooted in real-world understanding. Many women might look at Yi He's journey and draw inspiration, even a roadmap.
As Binance has recently stated, "her innovative and user-focused approach played an instrumental role in shaping the company's vision, culture, and bottom-up business strategy."
As a female power player succeeding within the topmost tier of an industry fraught with uncertainty, skepticism, and perennial evolution, Yi He doesn't merely break glass ceilings. She's redefining them.
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With about 300 million users worldwide, Binance emphasizes its aspiration of eventually serving a billion people, and Yi He is right at the forefront of that vision.
Her leadership comes at an incredibly critical juncture-a time when regulatory scrutiny, global expansion, and the promise of a Web3 infrastructure all call for innovation and responsibility.
As stated in the press release, Binance continues to seek opportunities to expand its global presence, "promoting financial freedom, and empowering people to participate in a more open and fair financial system."
With Yi He's customer-centric mindset combined with strategic acumen, many believe the company is better poised than ever to realize that vision. She said in her own words that she is "honored to build alongside Richard," and she is confident their combined perspective will lead the industry "during this pivotal time."
Yi He's rise is a powerful reminder that the path to the top doesn't have to be linear, nor does it necessarily have to follow conventional routes. That resilience, empathy, user-focus, and vision matter just as much as flashy credentials do. In a world increasingly led by startups and innovators, her story lets us know there's room for many voices-and for many kinds of leadership. This isn't just a win for Binance; this is a win for representation, diversity, and crypto's future belonging to everyone.
Image Credit: Freepik, Instagarm
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