Binance Names Co-Founder Yi He as Co-CEO of Crypto Exchange
By Fabiana Negrin OchoaBinance, the world's largest crypto exchange, has named co-founder Yi He as its co-chief executive.Yi, who led the strategy to develop Binance from a crypto-to-crypto trading platform into a global blockchain ecosystem, will take the helm of the company alongside CEO Richard Teng."This appointment is a natural progression and she will continue to guide the organization from strength to strength," Teng said in a statement Wednesday.In a post on social-media platform X, Binance said Yi will guide the company through its next phase of development as it aims to reach 1 billion users. It has close to 300 million users currently, according to the company.Yi co-founded Binance with Changpeng Zhao, who launched the company in 2017.Zhao stepped down in 2023 when Binance pleaded guilty to violating U.S. anti-money-laundering requirements. He served four months in prison after pleading guilty to a related charge.The Wall Street Journal reported in October that President Trump had pardoned Zhao, a move that could clear the path for the crypto exchange to return to the U.S.Binance, the biggest digital asset exchange by trading volume and users, handles $65 billion in average daily volumes.Write to Fabiana Negrin Ochoa at [email protected]