"Binance Holdings Ltd. named co-founder Yi He as co-chief executive officer in the biggest change to its top leadership since Changpeng Zhao stepped down from running the crypto exchange two years ago. She will share the title with Richard Teng, who succeeded Zhao as CEO of the world's largest crypto trading venue in November 2023. Yi He and Zhao, who resigned after pleading guilty to anti-money laundering and sanctions violations, have children together."
"Zhao was pardoned by US President Donald Trump in October, removing some of the regulatory overhang that had dogged the billionaire and the exchange he started for years. Analysts have said the pardon could make it easier for Binance to consolidate its US operations, which remains structurally separate from the global exchange. The impression is that: Now with the pardon, let's scale up the business, Ben Charoenwong, associate professor of finance at INSEAD, said of Yi's appointment."
Yi He was appointed co-chief executive officer of Binance, sharing the position with Richard Teng. Changpeng Zhao had stepped down two years earlier and resigned after pleading guilty to anti-money laundering and sanctions violations. A presidential pardon in October removed regulatory overhang and may enable Binance to more easily consolidate its US operations, which remain structurally separate. The pardon creates momentum for a shift from a defensive stance to a more active push to scale the business. Yi He has significant internal influence, credited with driving BNB Chain growth, overseeing institutional clients, and helping acquire CoinMarketCap. A former Chinese TV host, limited English constrained her public profile. Yi He entered crypto at OKCoin in 2014, hiring Zhao as chief technology officer.
Read at www.mercurynews.com
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