Binance Co-Founder He Yi Holds 10% Stake, Stays On Despite DOJ Pressure

Hi Yi and DoJ logo

He Yi, the co-founder and chief marketing officer of Binance, holds at least 10% of the company’s shares, according to a report by The Wall Street Journal. She has been a key player in Binance’s global expansion and public relations, as well as its controversies.

He Yi, the co-founder and chief marketing officer of Binance, the world’s largest cryptocurrency exchange by trading volume, holds at least 10% of the company’s shares, according to a report by The Wall Street Journal. This makes her one of the most influential figures in the crypto industry, as Binance is valued at over $20 billion, according to some estimates.

No Stranger to Company’s Controversies

He Yi, who is also the wife of Binance’s founder and CEO Changpeng Zhao, known as CZ, has been a key player in Binance’s global expansion and public relations. She has also been involved in some of the company’s controversies, such as the ongoing regulatory scrutiny and legal battles that Binance faces in several jurisdictions.

No Agreement Reached With The DoJ

According to the WSJ, the U.S. Department of Justice (DOJ) wanted He Yi to step down from her role at Binance, along with CZ, as part of a settlement agreement that was discussed in late 2023. The DOJ has been investigating Binance for potential violations of anti-money laundering and tax laws, as well as its role in facilitating ransomware payments. However, the settlement talks broke down and no agreement was reached, leaving He Yi and CZ in charge of Binance.

A Workaholic VP

The WSJ also reported that He Yi is a workaholic who has little interest in anything else. She once criticized a marketing event that Binance sponsored, featuring soccer star Cristiano Ronaldo, for generating insufficient returns and fired the vice president who was responsible for it. She also rarely takes vacations and works long hours, even during holidays.

He Yi’s stake in Binance gives her a significant say in the company’s future, as well as a huge fortune. However, it also exposes her to the risks and challenges that Binance faces, as regulators and law enforcement agencies around the world are tightening their oversight of the crypto industry.

Author: Jinka

Jinka is a self-trained crypto journalist, passionate about happenings in the industry.