Binance is getting dual leadership: Co-founder Yi He will join Richard Teng in steering the future direction of the decentralized trading platform.

Teng, who has been serving as CEO of Binance since August 2021 and was previously CEO of the financial centre Abu Dhabi Global Market (ADGM), announced the personnel move on Wednesday during his opening address at Binance Blockchain Week, held at the Coca-Cola Arena in the Gulf metropolis of Dubai.

A New Milestone Reached

Teng also revealed at the Web3 summit that the number of Binance users has now reached 300 million. Through the Binance app on their smartphones, members of the Binance community trade nearly all cryptocurrencies, including Bitcoin, Ethereum, Ripple, and Solana. Stablecoins such as USDT can also be purchased, exchanged, or sold via Binance.

«Yi has been an integral part of the leadership team since Binance’s inception. Her innovative and user-focused approach has been essential in shaping the company’s vision, culture, and bottom-up business strategy,» said Teng, who earlier in his career also headed the SGX exchange in his native Singapore.

The Billion in Sight

«We remain committed to being the most trusted and most regulated exchange in the world, always putting our users first. Yi plays a critical role in growing our community and driving product innovation as we work toward reaching one billion users,» Teng added, addressing thousands of enthusiastic blockchain followers. To achieve this goal, Binance recently launched the Binance Junior app for users aged seven to seventeen; it can only be installed and used under parental supervision, Teng assured.

«It is an honor to build alongside Richard, who brings decades of experience in regulated financial markets and was among the first to regulate the crypto sector in its early days,» said Yi He. «Together, we bring diverse perspectives and are confident in shaping the future of the industry in these pivotal times.»