The Wall Street Journal: The Unyielding Reign of Crypto Queen “He Yi” Amid Legal Turmoil on Binance
The Wall Street Journal recently published a special report on the cryptocurrency exchange Binance, focusing on the rising prominence of co-founder He Yi and her role in the company. While the report does not reveal many new stories about He Yi, it emphasizes her increasing influence in Binance as her co-founder Zhao Changpeng steps down.
The report highlights that Zhao Changpeng, also known as CZ, recently pleaded guilty to violating anti-money laundering laws in the United States and has stepped down from his leadership role in Binance. This significant change puts He Yi, who is both Zhao’s main deputy and life partner, in the position of guiding the exchange through these challenging times. Despite legal controversies surrounding Binance as an alleged channel for illegal international fund transfers, He Yi remains composed and resolute.
The Wall Street Journal states that the 37-year-old He Yi quickly took over Zhao Changpeng’s responsibilities, defending Binance’s reputation against criticism while also balancing her role as a mother to Zhao’s three children. Her active participation in public events, staunch defense of Binance on social media, and collaboration with newly appointed CEO Richard Teng demonstrate her growing influence within the company.
Some view He Yi’s strategies as resistant to regulation, which has attracted criticism, especially considering Binance’s record-breaking $4.3 billion fine and ongoing legal disputes with the Securities and Exchange Commission (SEC). However, in Zhao Changpeng’s absence, He Yi, as the largest shareholder, holds significant power and influence over the exchange’s marketing and investment decisions.
Despite setbacks, Binance remains a dominant force in the cryptocurrency market. He Yi’s pivotal role in shaping the company’s future, including her influence in selecting a new, mostly independent board of directors, is evident.
According to sources, the US Department of Justice had reportedly considered requesting He Yi’s departure from Binance as part of a settlement agreement. However, this claim remains unconfirmed.
He Yi’s resilience and determination in guiding Binance through its most challenging phase are apparent. Her involvement in significant decision-making processes, from recruiting new board members to leading marketing strategies, underscores her core role in shaping the future of this cryptocurrency giant. As Binance turns a new page, the cryptocurrency world closely watches He Yi’s leadership and how she will redefine the destiny of Binance in unprecedented challenges.
CZ
Richard Teng
He Yi
Binance
