Cryptocurrency exchange Binance has appointed co-founder Yi He as its co-chief executive, the company said on Wednesday alongside Richard Teng.
Yi’s new role alongside Teng is intended to expand Binance’s global presence while building infrastructure for Web3, which refers to a version of the internet that is decentralised and operates on blockchain technology.
“Yi has been an integral part of the executive leadership team since the launch of Binance,” said Teng.
Binance, one of the world’s largest cryptocurrency exchange, appointed Teng as CEO in 2023 after founder Changpeng Zhao pleaded guilty to breaking U.S. anti-money laundering laws.
In November, Teng said there had not been a decision on whether Zhao, known as CZ, would return to the exchange after he was pardoned by U.S. President Donald Trump in October.
