The world’s biggest cryptocurrency exchange announced a significant leadership move on Wednesday, naming longtime executive and co-founder Yi He as a co-CEO to lead the company. Yi He will share the role at Binance with Richard Teng who stepped into the top job in mid-2023 after its longtime leader Changpeng Zhao resigned amidst a U.S. criminal investigation.

“I am honored to build alongside Richard, who brings decades of experience in regulated financial markets and was among the first to regulate crypto in its early days,” said Yi He in a statement.

Yi He is a longtime veteran of the crypto scene in Asia, working at the exchange OKX (then OKCoin) in 2014, where she recruited Zhao to be the company’s chief technology officer. Zhao in turn recruited Yi He when he started Binance in 2017,

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