Changpeng Zhao Is Out, But Yi He Stays: Inside The Unseen Power Of Binance's Co-Founder

Despite the upheaval at Binance following Changpeng Zhao's guilty plea to anti-money-laundering violations, the company's little-known co-founder, Yi He, remained a prominent figure. 

Even while the U.S. Department of Justice (DOJ) sought her exit alongside Zhao in the settlement discussions, the demand did not come to fruition, The Wall Street Journal reported. Yi He still holds 10% of the company's shares.

Yi, known for her singular focus on work, had been in charge of Binance's marketing efforts. Her reign brought in a flurry of users but also created "graveyard projects," according to one former Binance executive. Notably, Yi was displeased by a campaign featuring soccer star Cristiano Ronaldo, which she, unlike other marketing executives, deemed to be underperforming.

This led to her decision to fire the vice president responsible for the campaign. Her approach reflects a rigorous standard for Binance's initiatives and investments.

As Zhao's partner and the mother of three children, Yi's role in Binance extends beyond her professional contributions.

She has been Zhao's chief lieutenant in running the exchange and has recently assumed a more prominent role since Zhao's resignation.

Yi, age 37, now shoulders the responsibility of defending Binance's operations and strategies, often addressing critics directly on social media.

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Despite Binance's legal challenges, including a guilty plea resulting in a $4.3 billion fine and a separate lawsuit from the U.S. Securities and Exchange Commission, her influence within the company remains significant.

She was instrumental in shaping Binance's marketing and investment divisions and played a key role in the selection process for Binance’s new majority-independent board, mandated by U.S. authorities.

Yi's journey with Zhao in the crypto world began when they met at a 2014 crypto conference.

Their professional collaboration turned into a personal relationship, leading to Yi joining Zhao as a co-founder and chief marketing officer when he launched Binance in 2017.

Her influence was pivotal in Binance's early growth, especially in the Chinese crypto community.

Her management style is characterized by her insistence on high standards and quick responses to negative publicity. Her commitment to Binance's success was evident in her statement, "My hobby is working for Binance," showcasing her dedication to the company's growth and evolution.

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Photos: Shutterstock; Binance