Yi He from Binance Featured in Fortune’s Crypto Report
In a recent Bloomberg profile, Yi He, a key figure at cryptocurrency exchange Binance, opens up about her role in shaping the company. He, who was once romantically involved with Binance founder Changpeng Zhao and shares children with him, emphasizes the distinction between her relationship with Zhao and the controversial partnership between FTX founder Sam Bankman-Fried and Caroline Ellison, CEO of the hedge fund associated with the theft of billions of dollars of customer money. He describes her role at Binance as that of a trusted advisor and behind-the-scenes boss, rather than a mere hanger-on.
The profile comes at a crucial time for Binance, as it faces regulatory scrutiny from the US government. Binance has been accused of engaging in dodgy practices, such as inflating trading volumes with secret accounts, and attempting to deceive regulators. The decision to have He step into the media limelight may be part of a larger charm offensive by Binance to salvage its reputation and navigate the regulatory onslaught.
What is particularly intriguing about He is her involvement in running the arm of Binance that invests in crypto projects and decides which projects get listed on the exchange. This aspect of Binance’s business, which generates significant revenue through projects paying for exposure, is shrouded in secrecy. However, the Bloomberg profile does not delve into this topic further.
Overall, the profile sheds light on He’s influential role at Binance and the complex dynamics between her and Zhao. It also highlights the challenges faced by Binance as it strives to overcome regulatory hurdles and maintain its position as one of the largest cryptocurrency exchanges in the world. The significance of He’s involvement in the secretive token listing team at Binance is a noteworthy aspect that warrants further exploration.
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