The leadership shift comes amid ongoing litigation, including a $1 billion federal suit alleging Binance facilitated terrorist financing, and post-pardon scrutiny after CZ’s legal troubles.

The joint leadership aims to blend Teng’s regulated-market experience with He’s community-driven product focus to enhance user-centric growth.

Teng emphasizes the complementary strengths of their backgrounds—regulated markets and user-centric product strategy—as foundational to Binance’s future amid scrutiny.

Yi He, a founding figure of Binance and a key driver of its strategy since 2017, partners with Teng to push product innovation and expansion of the Web3 infrastructure while prioritizing financial freedom.

The move follows a broader backdrop of regulatory and legal scrutiny, including CZ Zhao’s controversial pardon in 2025 after a prior resignation tied to a 2023 settlement and fine.

Under Teng, Binance has pursued stricter licensing and compliance globally, though investigations remain cited by major outlets.

Binance names Yi He as co-CEO alongside Richard Teng in a leadership reshuffle designed to accelerate global expansion into regulated markets and strengthen governance.

Industry observers note the North Dakota civil case alleging weak compliance and off-chain activity could set important precedents for crypto exchange liability, underscoring the timing of the leadership change.

Teng has been at the helm since late 2023, bringing experience from regulated finance and roles at PwC and the Monetary Authority of Singapore, and will continue to guide operations under the new structure.

Standard risk disclosures accompany the report, with no changes to core leadership news.

Industry watchers will monitor whether the co-CEO model accelerates global expansion while maintaining regulatory compliance and investor confidence.

Overall, the appointment is framed as a pivotal step to maintain competitiveness, stability, and growth in a rapidly evolving crypto landscape.