- Yi He takes charge of products and user operations as Teng handles regulation

- New lawsuit targets former CEO Zhao over alleged transfers tied to 2023 Hamas attack

Binance has introduced a new leadership structure that places co-founder Yi He alongside current chief executive Richard Teng, marking one of the platform's major governance changes since its inception. The announcement, delivered during Binance Blockchain Week in Dubai, comes as the company points to a shift toward strengthened compliance practices, operational stability across jurisdictions, and preparations for broader Web3 demands.

Dual CEO Model Signals Operational Realignment

The exchange confirmed that Yi He will now share top executive responsibilities with Teng, who assumed the role in 2023 following the departure of founder Changpeng Zhao. Under the revised framework, Teng will continue focusing on legal, regulatory, and institutional matters, areas aligned with his previous experience as a financial regulator. His mandate includes overseeing the company's dealings with authorities and ensuring adherence to global compliance expectations.

Yi He will lead product direction, retail services, and user-facing operations, which the company says reflects her long-standing involvement in shaping internal teams and ecosystem development. Binance highlighted her role in defining the platform's cultural approach and organizational structure, including strategies that supported its expansion from a startup in 2017 to a platform serving nearly 300 million users.

Yi He's Experience and Stated Priorities

Yi He is regarded as one of the earliest industry figures to gain influence in the digital-asset sector. Before co-founding Binance, she held senior roles at OKCoin, where she recruited Zhao in 2014. She later joined him to launch Binance three years later.

Following her appointment, she noted that her focus will be on infrastructure readiness, global operational consistency, and user protection across the company's services. She also addressed public interest in her personal association with Zhao and stated that her professional record should be evaluated independently.

Former CEO Zhao Faces New Claims in U.S. Lawsuit

Separately, former chief executive Changpeng Zhao was cited in a new complaint alleging that he enabled illicit fund transfers linked to the Hamas attack on Israel on October 7, 2023, according to a report by the Financial Times.

The lawsuit was filed by U.S. citizens whose relatives were killed, injured, or kidnapped during the assault. The report states that the transfers allegedly occurred after the company's $4.3 billion settlement with the U.S. Department of Justice in November 2023.

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