Binance has named its co-founder Yi He as Co-CEO. This is the biggest leadership change since Richard Teng formally replaced Changpeng “CZ” Zhao as CEO in 2023.
Teng presented the new dual governance structure at Binance Blockchain Week in Dubai, stating that the exchange is on track to reach 300 million users and therefore requires an expanded executive leadership. Since Binance’s launch in 2017, Yi He has been behind the firm’s core pillars: product strategy, customer service infrastructure, brand development and operational processes. Internally, she has long been viewed as one of the company’s most influential figures.
Shortly after the announcement, CZ posted on X: “Yi He should have been CEO from day one.” Yi He is both a long-time business partner and partner in private life. The two met during their OKCoin days more than a decade ago. Her appointment brings Binance’s decision-making center closer to CZ once again.
CZ was previously forced to step down due to charges brought by the U.S. Department of the Treasury, along with a lifetime ban from leading any company. After his recent pardon issued by President Donald Trump, the biggest legal barrier preventing him from holding an executive influence has disappeared. Through Yi He’s appointment, CZ is effectively returning to Binance’s internal power structure.
The move raises new questions about Binance’s governance. Despite the formal distribution of roles, it remains unclear who ultimately makes strategic decisions. Leadership at Binance continues to appear highly personalized and opaque. The restructuring comes at a time when the exchange faces regulatory pressure but continues global expansion. The dual-leadership model — paired with CZ’s restored political freedom — could significantly influence the company’s future direction.
If you track leadership changes at Binance and are choosing an exchange for trading, it’s worth comparing it with competitors. On FORECK.INFO, you can find an updated ranking of reliable crypto exchanges, comparing platforms by regulation, asset protection, liquidity, fees, withdrawal speed, reputation and real user feedback. This ranking helps evaluate whether Binance, Coinbase, Kraken and other exchanges fit your trading and investment needs based on your region.