He Yi officially assumes the role of Binance Co-CEO. The sheer number of interview topics almost exhausted everything she had to say (this article is nearly 20,000 words), but everyone can sense He Yi’s candor and thorough preparation.
(Background: CZ shed tears at 4 a.m.! Rarely talks about stepping down from Binance: He Yi is the most hardworking, life is only interesting when you strive)
(Additional Context: He Yi becomes Binance Co-CEO! Balancing Binance compliance and growth)
“I had never been a CEO before, but once I became one, I knew what to do. In the end, I just want to give it a try.” — He Yi
At the 2025 Binance Blockchain Week held in Dubai on December 3-4, Binance co-founder He Yi officially assumed the position of Binance Co-CEO. Facing media and KOL interviews, He Yi discussed her responsibilities as Co-CEO, responded to “white glove” concerns, identified Binance’s biggest current challenge as insufficient talent density, discussed the market trend, and explained why she admires Duan Yongping. The interview also touched on topics such as Hong Kong, the US, liquidity, and women in the workplace.
The audio content reflects the interviewee’s personal views and does not represent Wu Blockchain’s opinion. Some content has been edited. Audio transcription was done by GPT and may contain errors.
Part 1: He Yi Group Media Interview
On Binance Executive Division of Duties
PANews: This morning, we saw you take on the role of Co-CEO. Could you tell us why this system was introduced? Also, how are responsibilities divided between you and Richard Teng?
He Yi: First, as everyone knows, Richard has a regulatory background and is more familiar with compliance processes. When we communicate with regulators, he is often the best bridge and has helped us raise our compliance standards. As for myself, I consider myself an OG (old-timer), maybe not the most “OG,” but old enough. On this basis, I can help the company better inherit and promote our user-centric culture. Also, as I’ve mentioned in previous interviews, I have a big ambition: I want to make Binance a company with enduring legacy. About a year ago, I also took over the HR department, which made me constantly think about and try new changes—how to ensure Binance doesn’t just depend on one person’s abilities, but builds a long-term development system. That’s why we have this Co-CEO arrangement. In fact, the Co-CEO model is common in both crypto and traditional finance companies, such as JPMorgan and BYBIT. I believe 1+1 is greater than 2.
On “White Glove” Concerns
Wu Blockchain: Recently, there have been many intermediaries claiming they can help projects get listed on Binance Alpha. Have you heard about this? Have you found any violations and fired so-called “white gloves”? Has Binance tightened its listing rules because of this?
He Yi: First, Binance has never had “white gloves.” Many people claim to be my close friends, CZ’s relatives—there are a lot of impersonators. Just think about it: If you were Binance, would you need “white gloves”? The answer is no. Why does this “white glove” phenomenon exist? It’s because Binance doesn’t charge listing fees. All Binance listing requirements are: if you meet our standards and are willing to sell your tokens to our retail users at a relatively low price, or if you’re willing to airdrop to our users, Binance essentially charges no fees. As a result, this gives rise to the “white glove” phenomenon, precisely because our listing standards and thresholds are a bit higher, so many people claim they can help you get listed. In reality, they’re just helping you go through the process and submit information. Maybe they fill out a form for you, or, like a salesperson, say the same thing to 100 projects, and if one or two succeed, it probably has nothing to do with what they did. I think it’s just a probability issue—maybe the project itself is good.
Secondly, if anyone finds individuals impersonating Binance and claiming they can guarantee a listing, we welcome reports and encourage law enforcement involvement. In the early days, Binance was indeed an offshore exchange with few licenses, but in recent years, we’ve obtained more and more licenses and are no longer outside the law.
Therefore, I believe we must crack down hard on these impersonators. Finally, many people say there are “white gloves” impersonating He Yi, but everyone knows I’m Binance’s second-largest shareholder. An impersonation of He Yi or Binance “white glove” is essentially stealing from my own pocket. Do I need to steal from myself? Do I need to harm Binance’s reputation or interests to put money in my own pocket? If you know a bit about Binance’s equity structure, you’ll know there’s no need for that.
On Gender and Workplace Competition
BlockBeats: As a female Co-CEO aiming to make the company an enduring business, do you have any new ideas or positioning?
He Yi: Talking about women is not easy. First, I think the key isn’t what industry you’re in, but whether you set a ceiling for yourself and think you can’t do it. Once you think you can’t, you really can’t. Also, many women in the workplace hope to leverage their gender advantage—like, “I’m a woman, so I’m good at communication,” or “I have a good image, so I get along well with everyone.” This might make your influence bigger.
But I think if women are more approachable, people might be more willing to interact with you. The problem is, this reversely affects a woman’s professionalism. People might respect your communication skills, not your expertise. My view is, whether in Web2 or Web3, women’s top priority is to improve their professional competence. If you’re in marketing, become the best in the industry; if you’re in user growth, be the best at it; if you’re in PR, hone your writing skills. If you can do that, when people respect your professionalism, gender discussions will naturally fade.
Personally, I don’t think as a female entrepreneur people will go easy on you because you’re a woman. Sure, I might say “ladies first” in daily life, but real business competition is cutthroat. Who would attack you less or criticize you less because you’re a woman? Sometimes it’s even harsher. So, sometimes your weakness can be your strength, but when you treat your weakness as a strength, it can turn into a weakness. Ultimately, one should find their real strong suit.
On the Potential of Prediction Markets
BlockTempo: Prediction markets have been very hot recently. Will Binance consider incorporating prediction market voting results to make community-driven decisions or changes?
He Yi: I have a huge lesson called “never say never.” You might remember I once said Binance would never do futures because I didn’t understand them at the time. Later, I said memecoins wouldn’t work, but then I realized I just didn’t understand memecoins. So, when it comes to prediction markets, I think I…
