Meet Yi He: The woman who helped build the world's largest digital asset exchange

When Binance announced Yi He's appointment as Co-CEO at Binance Blockchain Week in Dubai, it formalized what industry insiders have known for years: she's been one of the most powerful figures in digital assets all along. The difference is, she's never needed the spotlight to prove it.

Yi He's journey to the top of the digital asset world is unconventional. Born in rural Sichuan province in 1986, she worked her way through university before landing a role as a television host on a travel show called "Beautiful Destinations". It was during this time in 2013 that she discovered Bitcoin, and despite having no technology background, she made a bold pivot into the emerging digital assets sector.

Building the foundation

In 2014, Yi He joined OKCoin, one of China's first major digital asset exchanges, where she co-founded the platform and led its branding and marketing strategy. More significantly, she recruited Changpeng Zhao (CZ) to join as Chief Technology Officer. That decision would change everything.

At OKCoin, she worked alongside CZ and founder Mingxing Xu, with each bringing complementary skills that helped shape the digital asset sector's early days in China.

In July 2017, CZ approached her with a proposition to build a global exchange together. Yi He agreed, helping to craft the white paper for Binance's initial coin offering. Within six months of launch, Binance became the world's largest digital asset exchange by trading volume, a position it has maintained ever since.

The power behind the scenes

Yi He’s approach was always unconventional but effective. She famously required everyone at Binance to spend time on the front lines of customer service, and personally monitored Telegram channels, WeChat groups, and social media platforms around the clock. This was embedded as a user-first culture into Binance's DNA.

In one instance, she helped a university student recover $500 worth of digital assets sent to the wrong wallet, explaining that she could empathize with such stories given her own experience. This hands-on philosophy has become a defining characteristic of her leadership style.

Navigating transformation

When Binance faced significant regulatory challenges in 2023, agreeing to a $4.3 billion settlement with US authorities and CZ's resignation as CEO, Yi He stayed and helped guide the company through its transformation. Working alongside new CEO Richard Teng, a former Singapore regulator, she helped implement compliance frameworks while maintaining competitive advantages.

The results speak for themselves.Binance's institutional user base grew 97% during 2024, and the exchange maintained its position as the world's largest.

The Co-CEO era

On December 3, 2025, Richard Teng formally announced Yi He's appointment as Co-CEO. "Yi has been an integral part of the executive leadership team since the launch of Binance," Teng said. "Her innovative and user-focused approach has been instrumental in shaping the company's vision, culture, and bottom-up business strategy."

The division of responsibilities follows a clear strategy, with Teng overseeing legal, regulatory, and administrative matters while Yi He leads product development, retail operations, and user-focused initiatives.

"I am honored to build alongside Richard, who brings decades of experience in regulated financial markets," Yi He said. "Together, we bring diverse perspectives and are confident in leading the future of the industry during this pivotal time, as we responsibly expand our global presence and drive sustainable innovation with our users always at the center."

A different kind of leadership

Yi He's appointment is notable in an industry where women in top leadership positions remain rare. Nearly 30% of senior leaders at Binance are women, a remarkably high figure in the male-dominated digital asset sector. Yet Yi He has consistently downplayed gender narratives, focusing instead on capability and execution.

Looking forward

With close to 300 million verified users globally, Binance remains one of the largest players in digital assets but scale brings its own challenges. Yi He now navigates a landscape where regulatory scrutiny remains intense across multiple jurisdictions, and where the exchange must balance growth with compliance in an evolving regulatory environment.

Yet if her track record is any indication, Yi He will navigate these challenges with the same quiet determination that has characterized her entire career. In an industry obsessed with visibility and personal branding, she has proven that influence doesn't require constant self-promotion.

As she settles into her role as Co-CEO, Yi He embodies a fundamental truth about modern leadership that the most powerful voices are often the ones that don’t need to be the loudest. In the volatile world of digital assets, that might be exactly the kind of steady hand the industry needs.