The appointment creates a dual CEO structure as Binance approaches 300 million registered users worldwide.
By Zoran Spirkovski
Editor Julia Sakovich
Updated
2 mins read
Binance appointed co-founder Yi He as Co-CEO alongside Richard Teng on Dec. 3, which establishes a dual leadership structure as the cryptocurrency exchange approaches 300 million registered users globally.
Teng announced the appointment during his keynote speech at Binance Blockchain Week in Dubai and described the move as a natural progression given Yi He’s role since the company’s founding. The company stated it remains focused on strengthening compliance programs while pursuing its goal of reaching one billion users.
Leadership Update:
We are delighted to welcome Binance co-founder @heyibinance into her new role as Co-CEO.
Yi has always played an important role, shaping our culture, driving innovation, and championing a user-first approach across our entire ecosystem.
Her leadership has… pic.twitter.com/CqsuTkb0gc
— Binance (@binance) December 3, 2025
Yi He co-founded Binance with Changpeng Zhao in July 2017 and has served in executive roles throughout the company’s history. She previously held positions as Chief Marketing Officer and Head of the company’s investment division.
The one billion users target builds on recent growth that saw Binance reach 280 million users by July 2025. The company added 130 million users over an 18-month period, according to data from that time.
Teng assumed the CEO role in November 2023 after Zhao pleaded guilty to failing to maintain an adequate anti-money laundering program. Binance paid $4.3 billion in penalties to the US Department of Justice and Treasury Department as part of the settlement, according to Treasury records.
The appointment announcement did not mention Zhao, who holds an estimated 90% ownership stake in the company. Settlement terms bar him from executive positions at Binance despite retaining controlling ownership.
Zhao received a presidential pardon in October 2025 after serving a four-month prison sentence. He has since taken on government advisory roles in countries including Kyrgyzstan and Pakistan.
The leadership change follows a series of partnerships with major financial firms, including an agreement with Franklin Templeton announced in September 2025 to develop digital asset products.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.
