The Wall Street Journal recently reported on Binance co-founder He Yi, pointing out that the US Department of Justice (DOJ) had initially hoped for He Yi to step down during the settlement negotiations. However, this claim has not been officially confirmed.
Following the historic settlement agreement reached on November 21 between Binance and the DOJ, the actions of the new CEO, Richard Teng, and co-founder He Yi have attracted much attention from the market.
Yesterday (24), The Wall Street Journal dedicated a feature article to He Yi, titled “Cryptocurrency Queen”. According to the WSJ report, because He Yi and CZ shared the same ideas and both overlooked the importance of complying with the anti-financial crime rules set by regulatory agencies, the DOJ also hoped for He Yi to step down during the early stages of the settlement negotiations. However, this claim has not been officially confirmed.
On the other hand, despite CZ pleading guilty to violating anti-money laundering laws in the United States a month ago, He Yi has not been affected by this turmoil. Instead, she has become a defender of the cryptocurrency giant Binance. As CZ’s main partner and life companion, He Yi is guiding the exchange through these challenges.
Insiders have pointed out that He Yi has once again demonstrated her influence in the selection process of the newly authorized board of directors in the United States. Most of the new board members are independent directors.
In CZ’s absence, He Yi is currently the largest shareholder of the company. Insiders have revealed that He Yi owns at least 10% of the shares of Binance Holdings Limited in the Cayman Islands and has absolute control over the marketing and investment departments. Therefore, He Yi will participate 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 is still the largest exchange in terms of global trading volume, processing billions of dollars daily. Previously, He Yi firmly stated on social media that FUD (fear, uncertainty, and doubt) would not kill Binance and posted exchange data from Defiliama to prove that Binance remains the leader in the cryptocurrency exchange market and is steadily growing.