The Wall Street Journal recently reported on Binance co-founder He Yi, stating that the US Department of Justice (DOJ) had initially hoped for He Yi to step down during the settlement negotiations, although this information has not yet been confirmed. Following the historic settlement agreement between Binance and the DOJ on November 21, Binance’s new CEO Richard Teng and co-founder He Yi have attracted much attention from the market.
In a recent article titled “Cryptocurrency Queen,” the Wall Street Journal revealed that the DOJ had initially hoped for He Yi to step down as she shared the same view as CZ and neglected the importance of complying with regulatory rules against financial crimes. However, this information has not been officially confirmed.
On the other hand, despite CZ pleading guilty to violating anti-money laundering laws in the US a month ago, He Yi has not been affected by the turmoil. Instead, she has become a defender of this cryptocurrency giant. As CZ’s main deputy and life partner, He Yi is guiding the exchange through these challenges.
Insiders have indicated that He Yi has once again demonstrated her influence in the selection process of the new board authorized by US authorities. The majority of the new board members are independent directors.
With CZ absent, He Yi is currently the largest shareholder of Binance. Insiders have revealed that she owns at least 10% of Binance Holdings, the Cayman Islands-based holding company, and has absolute control over the marketing and investment departments. Therefore, He Yi will be involved in the majority of major decisions in the future, from recruiting new board members to leading market strategies. This highlights her core role in shaping the future direction of the cryptocurrency giant, Binance.
Currently, Binance remains the largest exchange in terms of trading volume, processing billions of dollars daily. Previously, He Yi firmly stated on the X platform that FUD (fear, uncertainty, and doubt) would not kill Binance and posted exchange data from Defiliama to prove that Binance is still the leading cryptocurrency exchange, maintaining stable growth.
Related Reports
Binance US: CZ Steps Down as Chairman, Transfers Voting Rights, and No Longer Participates in Binance.US Governance
After the CZ era, what changes will Binance and the cryptocurrency market face?
Binance’s $4.3 Billion Settlement Ranked Second! A Quick Look at the Top 15 Crypto Enforcement Actions in the US
SEC Persists! Accuses CZ of Holding “Backdoor” to Binance.US Customer Assets, Judge Advises: Stop Pushing It
Tags:
Binance
CZ
He Yi