Yi He Binance: co-CEO, co-founder, and architect of growth

While Richard Teng focuses on regulation and institutional business, Yi He runs the side of Binance most users actually interact with – product decisions, brand direction, the BNB ecosystem, and investments via YZi Labs.

Her path into crypto wasn’t obvious – she came from media and marketing, not finance or engineering. It’s a chance to examine her role in Binance’s rise, her guiding principles as a leader and investor, and how she balances rapid growth with tightening regulatory demands.

Career before Binance

Yi He was born in the mid-1980s in a small village in China’s Sichuan province, in a family of schoolteachers. Her childhood combined study with hard work – helping at home, taking small jobs, and experimenting with early business ventures. As a teenager, she handed out promotional drinks outside supermarkets and later managed a small bedding store, handling cash, inventory, and customers.

In the 2000s, she moved to Beijing to study psychological counseling, earning a national psychology certification before realizing the field offered limited prospects. She then spent several years as a homeroom teacher at a private art college in Lijiang, where she gained her first leadership experience managing schedules, organizing classes, and resolving conflicts among students.

Yi He entered media in 2012 as a host for Chinese travel and lifestyle programs, including a series exploring “new discoveries” in Beijing. She later transitioned into production, developing show concepts, scripts, and advertiser partnerships. That period taught her what keeps an audience’s attention – and how quickly people tune out if a message feels forced.

In 2015, she joined Yixia Technology as vice president, leading product and marketing for major mobile video apps such as Miaopai, Xiaokaxiu, and the live-streaming platform Yi Zhi Bo, which later secured investment from Weibo. She also contributed to fundraising efforts that drove the company’s valuation into the billions.

Yi entered crypto. In 2014, she co-founded OKCoin, one of China’s first major exchanges, serving as marketing director. She built the brand and trader community and personally recruited Changpeng Zhao (CZ) as CTO after meeting him at a blockchain conference – a working relationship that later carried over into Binance.

Today, when company profiles address who owns Binance, the answer usually comes down to two names: Changpeng Zhao and co-founder Yi He.

Building Binance

After leaving OKCoin, Yi He spent several years at Yixia Technology, where she led marketing for major streaming and short-video apps including Miaopai, Xiaokaxiu, and Yizhibo. Yixia was one of China’s most dynamic mobile video startups, backed by hundreds of millions in venture capital. There, Yi He developed a growth playbook built on fast experimentation, A/B testing in both product and creative strategy, and aggressive user acquisition in a highly competitive market. One of her standout campaigns was signing Korean actor Song Joong-ki at the height of the Descendants of the Sun craze – a move that helped Yizhibo emerge as a leading live-streaming platform.

In 2017, she and Changpeng Zhao (CZ) decided to launch their own exchange. Yi He invested most of her remaining personal savings into the project and into BNB, signaling confidence to early employees and investors. Binance went live just weeks before China’s crackdown on ICOs and local exchanges, so from the beginning, the strategy was global: build a crypto-to-crypto platform, move fast on listings, and serve users outside the mainland rather than fight regulators at home.

Binance debuted at the peak of the ICO boom, but its success went far beyond timing. Yi He pushed for rapid token listings, support for the “long tail” of altcoins, easy onboarding, low fees, and an aggressive referral program. Within months, Binance grew from zero to billions in daily trading volume, and by the end of 2017, it had become the world’s largest exchange by volume. The BNB token, which briefly traded below its ICO price, later multiplied in value alongside the platform’s explosive growth.

While competitors focused on professional traders, Binance was built less for professional traders and more for people who simply wanted an exchange that didn’t get in their way. Yi He prioritized fast localization, Telegram and WeChat communities in multiple languages, and ongoing campaigns that rewarded consistent engagement rather than short-term hype.

Much of Binance’s brand tone and community-first approach can be traced back to her decisions. Yi He consistently pushed teams to think user-first, shifting focus away from internal planning to things like: fast response to feedback, active local communities, frequent AMA sessions, and public roadmaps instead of internal-only planning. Under her leadership, Binance maintained balance – a charismatic public figure as the formal Binance CEO supported by a strong operational foundation behind the scenes. Marketing, PR, listings, and user communications were unified into one long-term retention system rather than short bursts of trading activity.

Yi He’s role expanded far beyond marketing. She helped launch Binance Labs (now YZi Labs), the Launchpad platform, educational programs, and regional growth initiatives. She also played a key role in acquisitions such as Trust Wallet and CoinMarketCap and supported the development of BNB Chain and its grant programs for developers. Inside the company, Yi He is often described as the architect of growth – a leader who brings together product, brand, and community into a single vision, defining how Binance connects with users and partners around the world.

Rise to co-CEO

After Changpeng Zhao stepped down as Binance’s CEO in 2023, the company came under the leadership of Richard Teng. Officially, he became the sole CEO, but within the organization, Yi He remained a central figure of influence. She oversaw marketing, retail products, and the investment division that later evolved into YZi Labs. She shaped how the exchange looked, felt, and functioned for hundreds of millions of users.

By 2025, Binance was under close regulatory scrutiny while expanding into new sectors – Web3 infrastructure, BNB Chain, AI, and fintech. In response, the company adopted a dual leadership model. That December, during one of its flagship conferences, Yi He was officially appointed co-CEO alongside Richard Teng.

As Binance neared 300 million registered users, the split reflected how Binance had already been operating behind the scenes: Teng would focus on licensing, regulation, and institutional business, while Yi He would lead product, brand, and user experience.

In her new role, she took charge of Binance’s “front end” – everything the customer interacts with, a focus that often frames comparisons like Binance vs KuCoin. In practice, she oversees everything that shapes the day-to-day user experience – from the app and listings to community channels and investment priorities. She sets priorities for listings, Launchpad and Launchpool development, developer programs, and marketing initiatives across key regions.

Her first public interview as co-CEO set the tone. Yi He framed trust as Binance’s main bottleneck, arguing that growth without it simply doesn’t scale anymore. She underscored the importance of strong risk management in the wake of several competitor collapses and stressed that the “Wild West” era of crypto was over – Binance had to operate in a world of constant regulatory oversight.

Today, Yi He Binance in the media stands for more than the story of a co-founder – it represents a new model of leadership. Teng brings regulatory and banking expertise; Yi He brings a deep understanding of product and retail investor behavior. Together, their roles outline what Binance is trying to become after CZ – more predictable, more regulated, but still competitive.

Philanthropy & public initiatives

For He Yi Binance is also a platform for philanthropy. In 2018, she helped launch Binance Charity, a foundation that uses blockchain to guarantee full transparency of donations – traceable from donor to recipient. The foundation focuses on real-world impact: education, healthcare, food security, and emergency relief. Every transaction is recorded on-chain, allowing donors to follow funds from the main wallet to local partners and final beneficiaries.

One of its most notable projects was the Lunch for Children program in Uganda. Binance Charity funded school meals and solar panel installations in rural schools, creating crypto wallets for children and schools so funds could be redeemed directly from local food suppliers. Over several years, the program reached more than 20,000 children and became a model for a larger initiative to support up to 1 million people across Uganda, Rwanda, Kenya, and Ethiopia. The project also tracked attendance, academic performance, and nutrition data in collaboration with Uganda’s Ministry of Primary Education.

During the COVID-19 pandemic, Yi He helped lead the Crypto Against COVID campaign. Together with external donors, Binance Charity raised about $4.3 million in crypto, which funded the purchase of more than 1.5 million units of PPE – from N95 masks to full protective suits – for hospitals in over 20 countries. The campaign reached 26 countries and more than 100 hospitals. Later, the fund made a $1 million crypto donation to UNICEF to help deliver vaccines in 11 countries and even piloted a PPE token to track last-mile distribution of medical supplies.

Another key focus is emergency relief during wars and natural disasters. Under Yi He’s leadership, Binance Charity created an Emergency Relief Fund for Ukraine, pledging at least $10 million in humanitarian aid – one of the largest private crypto donations to the country. In partnership with UNICEF, UNHCR, and local NGOs, the fund provided food, shelter, medical aid, and refugee assistance across Ukraine and neighboring regions.

Inside Binance, Yi He champions the idea that philanthropy should be built into the business, not treated as a marketing exercise. As a result, nearly every major Binance campaign – from product launches and conferences to sports partnerships – includes a Binance Charity component, enabling users to donate crypto directly to verified programs with full on-chain transparency. She believes sustainable business and structured philanthropy should strengthen each other: the larger the Binance ecosystem grows, the more resources it can direct toward measurable, meaningful social impact.

Leadership & investment views

During AMA sessions, Binance Yi He often repeats a simple principle: if you build a great product and treat users with integrity, growth will follow. This philosophy defines her management style – she expects teams to present hard data on retention, active users, and security, not polished slides. Inside Binance, she’s the leader who shuts down even popular features if they pose unnecessary risk to customers.

In Binance’s new dual leadership structure, Yi He oversees the front end of the business – user experience, the BNB ecosystem, and investment strategy. Her goal is to build a company that endures, one not reliant on a single charismatic leader. She often emphasizes the idea of talent density: key roles, she says, should be held by people who know their domain better than the founders – whether in listings, risk management, or product development.

Through YZi Labs, which grew out of Binance Labs, Yi He also guides the company’s investment strategy. The firm manages more than $10 billion in assets and a portfolio of hundreds of projects worldwide – spanning DeFi, BNB Chain infrastructure, AI, and fintech. The goal isn’t to chase the next “x100” return but to back teams capable of building real businesses and bringing millions of users into Web3. This is why YZi Labs focuses on RWAs, payment solutions, wallets, and services built for mainstream adoption rather than just crypto enthusiasts.

She consistently talks about risk management in AMA sessions. Yi He cautions against building strategies solely around bull runs – both the exchange and its portfolio, she says, must be able to endure any market environment. Her priorities are excess liquidity, strict compliance, and steering clear of unsustainable revenue models. She tells founders:

If your project can’t survive without leverage or casino mechanics, it doesn’t serve real users.

Yi He also brings a personal conviction to her leadership. She frequently addresses women in the industry, rejecting the idea of “soft” gender-based excuses. What matters, she insists, are competence, discipline, and accountability. That same philosophy defines Binance’s culture – high standards for everyone, regardless of role or background.

Yi He’s stance on regulation

In interviews, Yi He discusses regulation without any “Wild West” romanticism. Her position: if the crypto market wants to reach a billion users and attract institutional capital, major platforms can’t operate on a “growth first, rules later” basis. She admits Binance’s earlier model leaned too heavily on speed and flexibility while underestimating regulatory risk – a costly mistake the company can’t afford to repeat.

After the U.S. case and a billion-dollar fine, Yi He emphasizes two main points. First, accountability rests with the exchange itself – blaming “unclear regulations,” she says, accomplishes nothing. Second, Binance’s goal is no longer to be the boldest exchange but the most reliable: maintaining surplus reserves, enforcing strict risk management, full KYC, and active cooperation with regulators and law enforcement.

The dual leadership structure – Richard Teng as Binance CEO and Yi He as co-CEO – fits this approach. Richard Teng brings experience from regulatory and traditional finance, focusing on licensing and engagement with authorities. Yi He leads product, user experience, and company culture, while also shaping compliance strategy and often serving as a public interpreter of regulatory language for everyday users.

When discussing the industry’s future, Yi He argues that strong compliance is not a limitation but a competitive edge. The higher the standards for transparency and oversight, the more likely traditional finance is to embrace crypto without hesitation. Binance’s mission is to prove that a major exchange can innovate quickly while staying firmly within rules that satisfy both regulators and users.