Yi He Appointed Binance Co-CEO Amidst Legal and Regulatory Challenges
Binance co-founder Yi He has been promoted to Co-CEO alongside Richard Teng to address ongoing legal and regulatory pressures.Summary
Binance has appointed co-founder Yi He as Co-CEO, joining Richard Teng in a dual leadership structure designed to strengthen regulatory compliance and rebuild trust following founder Changpeng Zhao's criminal conviction. Teng will manage legal and regulatory affairs, while Yi He will focus on product development, retail operations, and user initiatives. This leadership shift occurs as Binance faces a significant $1 billion federal lawsuit from victims of the October 7, 2023 Hamas attack, accusing the exchange of facilitating funding to terrorist groups. The lawsuit follows a controversial pardon granted to CZ by President Trump, overturning his prior sentence for AML control failures. Yi He, who previously served as Chief Customer Service Officer and co-founded OKX before joining Binance, has emphasized her professional independence and commitment to user experience while denying the terrorism financing allegations.
(Source：BeInCrypto)