The world's largest crypto exchange has a new leadership structure. Co-founder of Binance and partner to CZ — Yi He — is becoming the company's co-CEO.
Binance announced that Yi He is becoming co-CEO.
The decision may signal the return of Changpeng Zhao's influence — albeit from behind the scenes
What does Yi He's appointment as co-president really mean?
During Binance Blockchain Week, it was announced that Yi He — the co-founder of the company — has been appointed as co-CEO alongside Richard Teng. This is one of the largest reshuffles in the exchange's leadership in years.
Yi He, known for her role in building Binance since 2017, has recently been responsible for the client department and also heads YZi Labs — formerly Binance Labs — investing in blockchain projects.
The change has sparked speculation: is this a way for CZ to partially return to influence? Let's remember that Zhao had to step down after a settlement with the U.S. Department of Justice and cannot formally run the company. However, the ongoing actions of YZi Labs and recent pressures on CEA Industries suggest that the billionaire may still be able to "pull the strings."
The new management structure of Binance may indicate a more aggressive expansion strategy, but also an attempt to tidy up the exchange's image after turbulent regulatory years.