Binance’s path ahead: What a ‘dual ‘leadership’ era can look like

Binance has named co-founder Yi He as its new Co-CEO.

By elevating a trusted longtime executive, Binance is shifting its focus from pure hyper-growth to a more balanced approach that emphasizes customer trust and stronger compliance.

Binance’s new CEO

The new co-CEO structure reflects the company’s effort to evolve with a maturing industry, marking the beginning of a more customer-focused and responsible chapter for the global exchange giant.

Reacting to this announcement, Yi He said,

“I am honored to build alongside Richard, who brings decades of experience in regulated financial markets and was among the first to regulate crypto in its early days.”

Celebrating the same, Richard Teng added,

“Yi has been an integral part of the executive leadership team since the launch of Binance. Her innovative and user-focused approach has been instrumental in shaping the company’s vision, culture, and bottom-up business strategy.”

How was CZ’s CEO tenure?

Back during CZ’s tenure as founder-CEO, he was responsible for Binance’s explosive rise through rapid expansion, constant product innovation, and a high-volume, low-fee trading model.

But this same strategy had set the stage for the company’s regulatory crisis.

His 2023–2024 U.S. settlement, with fines, a prison sentence, and his resignation, marked a clear end to the hypergrowth era.

Even after President Trump’s 2025 pardon sparked rumors of a comeback, Binance’s structural shifts signaled a decisive move away from CZ’s direct influence.

How different was Richard Teng’s tenure?

Then, Richard Teng, a former regulator in Abu Dhabi and Singapore, stepped in as CEO to lead Binance’s cleanup phase.

His mandate is to transform Binance [BNB] into a compliant, institution-ready exchange by overhauling AML/KYC systems and rebuilding regulator relationships.

So, now Yi He’s appointment as co-CEO balances Teng’s regulatory focus with renewed energy around growth and product development.

Formerly Binance’s Chief Customer Service Officer and a key strategist, Yi He will lead user-centric innovation, customer trust efforts, and Web3 expansion.

Together, Teng and He divide the responsibilities once held by CZ—Teng as the “Regulator-in-Chief” and He as the “Builder-in-Chief.”

BNB price action and CZ’s lawsuit

The announcement coincided with an uptick in the BNB price to approximately $896.05.

Yet, this attempt at a fresh start is being overshadowed by a far more unsettling and potentially existential crisis.

The sweeping North Dakota lawsuit representing 306 victims of the attack on the 7th of October attack has pushed Binance’s leadership story from strategy to accountability.

The allegations that Binance and former CEO CZ enabled over $1 billion to reach groups tied to Hamas and Hezbollah go far beyond the 2023 DOJ settlement and challenge the exchange’s claims of reform.

Against this backdrop, the future leadership of Richard Teng, now joined by Yi He as Co-CEO, becomes a critical development to watch.

Final Thoughts

• Yi He’s promotion signals Binance’s intention to balance growth with a renewed emphasis on compliance and user trust.
• CZ’s era has officially ended, both operationally and symbolically, as the company pivots toward institutional discipline.