Binance's Post-CZ Era: He Yi and Richard Teng Lead the Organization Towards Sustainable Growth

Binance Enters a New Era Under He Yi and Richard Teng

Following the annual Binance Blockchain Week, Binance has undergone its largest management reshuffle since the CZ era. Co-founder He Yi is taking on the role of co-CEO, joining Richard Teng in leading this giant in the cryptocurrency world. In an exclusive interview with PANews and other media outlets, He Yi displayed a practical and resolute approach as a "big sister", candidly answering and sharing her insights on the division of responsibilities in her new role, "white glove" rumors, industry cycle predictions, and Binance's future plans.

He Yi emphasized that in this new phase, Binance will focus on users and technology, build systemic capabilities, and evolve into an evergreen organization capable of self-sufficiency. The co-CEO position is driven by supervisory and organizational considerations, and will lead three core threads.

The Co-CEO Structure: Strategic Integration

He Yi describes the co-CEO structure as a “1+1>2” strategic integration. She has a clear definition of the division of labor between them. With his deep regulatory experience, Richard Teng will serve as the best bridge between Binance and global regulators, and will be responsible for pushing compliance standards to new heights. On the other hand, He Yi, as an industry veteran, will return to the internal, focusing on user experience, company culture transmission, and human resources operations. She pointed out that the co-CEO system is not uncommon in modern companies pursuing equality and efficiency, whether it be traditional financial giants like JPMorgan Chase or similar companies like Bybit.

Building an Evergreen Organization

"I have a relatively big ambition, I want to make Binance an evergreen company," He Yi confessed frankly. When she took over the HR department a year ago, she began to think about how to transform Binance from simply relying on "individual abilities" to relying on the "organization" to move forward. In her management philosophy, He Yi respects Duan Yongping, and appreciates his philosophy of building systems rather than relying on individual capabilities. She hopes that Binance can foster new companies like OPPO, Vivo, Xiaotiancai, and Pinduoduo, "supporting more outstanding entrepreneurs to succeed based on the BNB aircraft carrier."

Female Leadership and Breaking Barriers

As a rare female leader in the industry, He Yi refuses to put a gender label on herself and objects to workplace strategies that exploit "feminine features". "Business competition is a knife-edge battlefield. No one will ease their attack on you because you are a girl, they may even insult you worse," He Yi believes that women should not place limitations on themselves and should not try to cover up a lack of professionalism with communication skills. Whether in Web2 or Web3, the only way to earn respect is to maximize professionalism, whether it is in marketing, growth, or public relations.

"Your shortcomings may be your advantage, but if you treat it as an advantage, it may also become your shortcoming," He Yi advised. The key to breaking the glass ceiling is to find core strengths, rather than relying on gender advantages.

Binance's Key Threads Under He Yi's Leadership

After taking on her new role, He Yi will be responsible for three key threads at Binance, including continuing Binance's "user-centric" culture, building an organizational system that goes beyond individual empowerment, and introducing AI and other technological innovation forces within the organization. She is convinced that technological innovation is the fundamental driving force for the industry to move forward.

Denying "White Glove" Rumors

Recently, rumors have been spreading about "Binance listing white gloves". In response, He Yi clarified in the interview that she adopts a zero-tolerance attitude towards such behaviors. "Binance has never had a white glove," He Yi said bluntly, pointing out that the alleged relatives and friends were impersonating. She pointed out that Binance does not charge listing fees, and the core requirement is that project owners provide airdrops or low-priced chips for users. It is because of the high threshold and strict standards that scams trying to profit from the situation have flourished. "If you know a little about Binance's ownership structure, you will know that I don't need to do this. That's like stealing money from my own pocket, do I need to steal money from my own pocket?" He Yi said, adding that Binance welcomes reports and is willing to cooperate with law enforcement agencies to crack down on such scams. She emphasized that with the increase in licenses, cryptocurrency is no longer a lawless land, and any attempt to undermine a fair and transparent market will be severely punished.

Cautious and Open Outlook on Emerging Fields

When talking about how to view hot sectors, He Yi also shared her reflections. She admitted that in the past she had made wrong judgments due to a lack of understanding. "I once said that Binance would not deal with contracts, and I also said that memes were not okay, but it turned out that I didn't understand." Therefore, she is now more cautious and open to new fields, "never say never". When talking about memes, she admitted that she was under a lot of pressure. "If I post a meme, everyone will be happy if it goes up, and they will scold me if it goes down." She believes that memes are carriers of market sentiment, but they will eventually return to the logic of value. What Binance can do is try to ensure the quality of the listed projects, and strive for as many benefits as possible for users.

Completing the 300 Million User Goal

At the conference, Binance announced that its registered user base has reached 300 million, and set its next goal at 1 billion users. Faced with this achievement, He Yi admitted that she is a "picky boss" and pointed out that Binance still has many shortcomings, such as the product experience is not smooth enough, localization needs to be strengthened, technology stability can be improved, and the industry image needs to be presented more positively externally. She specifically mentioned: "In the eyes of the outside world, the crypto circle is often a 'den of thieves'. But the prosperity of the industry benefits everyone, and if it is damaged, everyone will be damaged. Binance hopes to take the lead in showing more positive values." When talking about the current challenges, He Yi admitted that there is a shortage of talent. She explained that the cryptocurrency industry has long suffered from defamation, and the candidate pool is significantly smaller compared to traditional financial and internet fields. Binance needs talent who understands finance, understands cryptocurrency, and truly believes in the future of the industry. "If someone just wants to get $10,000 to write code and doesn't care what the code they write does, it's hard to build a global top company." For this reason, she is constantly looking for top talent around the world, which has led the outside world to mistakenly believe that Binance was "poaching" talent. He Yi clarified that this is not directed against a particular company, but rather a shortage of talent in the entire industry. In addition, He Yi also shared views on global planning. For the Hong Kong market, she believes that the regulatory framework has improved significantly, but local exchanges still face difficulties in accessing global liquidity, and Binance will "cross the river by feeling for stones". When asked whether it would relaunch BUSD and whether it would enter the United States, she said: "I would like to try, and if I can, I will, and I also accept the reality. Binance is just a small company trying to survive in the gaps, and it is impossible to influence governments."

The Underlying Logic of Cryptocurrency is Changing

When talking about the industry cycle, He Yi reminded investors that the underlying logic of the cryptocurrency market is changing. "As Bitcoin goes from a niche market to a mainstream market, and with the entry of sovereign states and traditional financial giants, the absolute cycle theory may no longer apply, and the previously effective money-making logic may lose its effectiveness in the new 'pond'." She pointed out that in the cryptocurrency industry, either hold the most decentralized core assets (such as BTC), or invest in the largest and most competitive company in the industry (such as BNB). The underlying logic of the world is connected. He Yi also emphasized that retail investors are still a group that needs protection. Therefore, Binance is balancing the market environment as much as possible in terms of risk control, liquidity, and trading mechanisms to ensure that market operations are fair and safe.

Sharing Investment Strategies and Life Philosophies

At the end of the interview, He Yi recalled her dream when she was 18 years old. From loving Chen Changsheng, who said "I want to try" in the novel "Choice of the Sky", to being reminded by a friend that she had realized her childhood wish of "influencing the world", He Yi said that her fundamental motivation has never changed. From working as a program host, to starting a business, to today, she has always been someone who is constantly trying. She believes that the key to life is to accept emotions and change, "Clouds in the blue sky and water in the bottle. Treat everything that happens as the best arrangement."