Overview
- Richard Teng announced the appointment on stage at Binance Blockchain Week in Dubai, confirming Yi He’s new role as co-CEO as the exchange nears 300 million users.
- Reporting indicates Teng will steer legal and regulatory affairs while Yi He focuses on product, retail and customer operations, with Binance reiterating its long‑stated goal of reaching one billion users.
- CZ pleaded guilty in 2023 as Binance agreed to a $4.3 billion U.S. settlement and he served four months in prison before an October 2025 pardon, and legal experts are split on whether his prior management ban remains enforceable; he is widely reported to retain a large ownership stake.
- Legal headwinds persist, including a recent lawsuit by more than 300 victims of the Oct. 7, 2023 Hamas attack alleging Binance enabled transactions tied to the group, which names CZ and executive Guangying Chen but not Yi He.
- Teng also unveiled Binance Junior, a parent‑controlled app for users ages 6 to 17 intended to help children and teens learn about digital finance.