He Yi, in her first interview since becoming co-CEO of Binance, stated that prioritizing the interests of retail investors is fundamental to Binance's success.

On the morning of December 3rd, Dubai time, Binance CEO Richard Teng announced at Binance Blockchain Week that He Yi, the company's co-founder, has officially assumed the role of co-CEO.

The news sparked a heated discussion.

For years, He Yi's public title has been Co-Founder & Chief Customer Service Officer, and she often refers to herself as "Customer Service Xiao He" within the community. On October 22, Trump signed a pardon for CZ ( see " Trump Pardons Binance Founder CZ: 13 Months, From Imprisonment to Complete Freedom " ) . CZ subsequently confirmed the news on October 25 and stated that he would focus on YZi Labs' investment business in the future. Clearly, the timing of this public announcement of such a position change reflects a larger internal restructuring within Binance.

Odaily Planet Daily was fortunate to be invited, along with several other media outlets, to interview He Yi on her "Day 1 in Office," discussing key topics such as Binance's future strategic direction, business focus, internal responsibilities, and moments of controversy. A summary of the Q&A is provided below for our readers:

Q: Why did Binance create a co-CEO position this time? What will be the future division of responsibilities between him and Richard?

He Yi: As everyone knows, Richard comes from a regulatory background and is familiar with the regulatory dialogue process, making him the best bridge to help Binance improve its compliance standards; as an OG, I hope to retain the culture within the company and keep the users.

My grand ambition is to "build a lasting legacy," so since taking over HR work more than a year ago, I have been constantly thinking about and trying to figure out how Binance can move forward as an "organization" rather than just relying on "individual ability."

Co-CEOs are quite common in both traditional and cryptocurrency sectors, such as JP Morgan or Bybit. The ultimate goal is to achieve a synergistic effect where " 1+1>2 ".

Q: Regarding the listing of coins, what is the truth behind the rumors circulating in the market about "white gloves"?

He Yi: Binance has never had a front man. Many people claim to be CZ's relatives, my brother, or my best friend, but put yourself in my shoes, do I need a front man? Binance doesn't charge listing fees, only listing standards. If a project is willing to airdrop tokens to users, we welcome it. Furthermore, I am Binance's second-largest shareholder; I don't need to steal money from my own pocket while damaging the brand.

I also know that another reason is Binance's high listing threshold and standards , which leads some people to want to act as intermediaries, such as helping to fill out forms, and claiming "no success, no money." The truth is, whether a coin can be listed has nothing to do with what an individual does; the core issue is the quality of the project.

Binance is licensed worldwide, and listing coins is not a lawless zone. If you hear of any such front-line agents, please report them and hand them over to the relevant law enforcement agencies for prosecution.

Q: As co-CEO and also as a woman, what are your thoughts or ideas about this new role?

He Yi: It's so hard being a woman (everyone laughs). The essence isn't which industry a woman works in, but whether she sets a ceiling for herself . If you think you can't do it, then you can't.

Additionally, if you're willing to leverage your gender advantage, using a more approachable image, greater influence, and better communication skills, this is another level of "anti-professionalism."

In the business world, the other party still values your professionalism more and won't give you special treatment just because you're a woman (except when opening doors). Men and women face the same attacks and insults. A weakness can be a strength, and a strength can be a weakness.

Putting gender aside, no matter what position you hold, just be the best in your field .

Q: What are Binance's plans for the prediction market that will meet the community's demands?

He Yi: Never say never . I once said Binance wouldn't do contracts, that Memecoin wouldn't work, because I didn't understand back then. Now I'm smarter; I don't say I can't, nor do I say I can. Voices are often swayed by interests, and every statement is just a slice of the story from its own perspective.

I haven't had time to study market prediction properly yet, and I don't understand it well enough.

Q: Binance already has 300 million users. From an internal perspective, please evaluate Binance's achievements and shortcomings in 2025.

He Yi: I'm a demanding boss, and the employees I work with experience a lot of work pressure. Binance's products still lack a smooth user experience and have insufficient localization features. There are many areas where Binance needs improvement, but there's one thing it does better than its competitors: it values its users .

Regardless of the internal attacks within the industry, we are all interconnected, sharing both prosperity and adversity. We want to work together to showcase the positive aspects of the industry to the outside world.

The cryptocurrency market is now highly competitive, with an increasing number of participants, and prices are beginning to align with traditional finance. Against this backdrop, our user base has shifted , with whales and traditional giants joining the fray, and they tend to sell altcoins before Bitcoin. We strive to balance and protect the interests of retail investors; this is Binance's core principle and the reason I've been on the front lines for so long. We hope that retail investors can still have more opportunities to enjoy inclusive and free finance even amidst the challenges.

We do not trade with users (as counterparties). During extreme market conditions, market makers and retail investors clash, creating a liquidity vacuum. It is precisely because Binance "does not participate" that the candlestick chart shows spikes. This is the fundamental principle of the matching engine. Binance is constantly considering how to make it fairer and more reasonable .

Q: What is Binance's biggest challenge right now? Which business segments will be the focus going forward?

He Yi: Low talent density . The tech industry has developed to a point where the talent density in the internet and AI sectors is very high. We also want the best people, but Crypto has been stigmatized, resulting in a relatively small talent pool. People who understand financial products and believe in Crypto's future are extremely valuable; we need to rely on these people to build a top global company.

Therefore, one of my core responsibilities is to find the best people for Binance. I've been actively seeking talent across the industry recently, not targeting any particular company. Excellent individuals are welcome to join us.

Q: You mentioned that you admire Duan Yongping's business acumen and investment skills. What aspects of his approach will you draw upon in your future endeavors? Can you create a cryptocurrency like BBK, OPPO, or Pinduoduo?

He Yi: As Binance continues to iterate, it is also building a system. I not only pursue Binance's success, but also hope that "individuals" can grow based on the Binance ecosystem. What I admire about Duan Yongping is building a system, rather than a single capability .

The cryptocurrency world itself focuses more on investment, and people pay more attention to this aspect. Whether it's Buffett or Duan Yongping, they all emphasize holding top-tier assets. My personal opinion, which does not constitute investment advice, is that cryptocurrencies definitely have a better future. Choosing the most decentralized asset is not difficult—BTC; choosing the most volatile and largest—BNB. Regardless of whether Buffett or Duan Yongping understands the cryptocurrency world, the underlying logic of the world is the same.

In addition, inviting good projects to boost and alpha projects can only determine whether they have a product foundation, but we cannot be responsible for their prices. We hope to provide support for other listed projects based on BNB as an aircraft carrier.

Q: When BTC pulled back recently, you said that the underlying logic of the industry was changing. What are your predictions for 2026?

He Yi: This is a personal opinion and does not constitute investment advice. BTC is the most decentralized cryptocurrency. The so-called "rise and fall" is also a matter of cycle. When you extend the timeframe, today's drop may just be a "minor fluctuation." Cryptocurrencies like BTC have moved from niche to mainstream. There are often news reports of "a certain country seizing a certain amount of BTC and possibly selling it off," but with more sovereign entities increasing their holdings, the "absolute cycle theory" has changed ; methods that worked in the past few cycles may no longer be suitable for today's "big pond and big fish."

Q: What fundamental changes will the new organizational structure bring? What are the three most important things you will personally lead?

He Yi: First, it's a continuation of Binance's culture. Ultimately, success comes down to culture , namely, "user-centricity".

Secondly, there is the construction of a system, where organizational effectiveness is greater than single-point empowerment, as mentioned earlier.

Third, Binance believes that "technological innovation is the fundamental driving force for the world's progress" and will introduce more AI .

Q: How does Binance view Hong Kong's support policies, and how does it assess and plan for local development?

He Yi: Hong Kong is an Asian financial center. Binance respects Hong Kong's regulations, but we have also seen the "difficult" financial reports of local competitors. In the process of engaging with regulators with an open attitude, we have found that there are many restrictions and difficulties in accessing global liquidity. Therefore, we are taking it one step at a time and understand that there is always a process from discussion to implementation.

Q: After the "10.11 liquidity drain" incident, how will Binance, as a leading player, restore liquidity, and what are its specific implementation strategies?

He Yi: The concept of industry liquidity depletion refers to the absence of trading "at that moment," not that trading will cease after the crisis. Furthermore, it doesn't mean users don't have any coins; it simply means they hold large stablecoin positions. Some people losing money means the money is in the hands of others, but it doesn't necessarily mean "all the money is running away."

We must also recognize that the market size continues to expand, but during periods of volatility and when there is a lack of good investment opportunities, people tend to adopt more conservative strategies , such as in wealth management.

Q: What are Binance's future plans regarding Meme?

He Yi: Actually, I don't like people posting memes on my Twitter. They're happy when the price goes up and they criticize me when it goes down. I feel a lot of pressure and I don't even dare to use memes anymore. Speculators don't really care who posts them; they just want to find assets that can reflect everyone's trading emotions.

While everything can be memed, I advocate for Buffett's long-term return to value investing . Oversold and overbought conditions are common with memes. Binance's basic logic is that it hopes every listed coin will rise, but that's unrealistic. What they can do is negotiate with project teams to benefit users. Ultimately, it's about finding a balance in the dynamic game between bullish sentiment and risk control .

Q: What was your dream when you were 18? Has it come true? What are your beliefs and driving forces?

He Yi: I don't quite remember. I didn't have a clear concept of wealth when I was 18. But I have a book I haven't finished reading, "Ze Tian Ji," and I like Chen Changsheng in it. When faced with challenges, he says, "I want to try." I've tried hosting and starting my own business, so I've given it a shot.

When I was a TV host and not yet famous, my friend Li Jiayi asked me about my life's dream. I said: I wanted to be someone who could influence the world. Later, I forgot about it. Until many years later, when I was nominated for an award I'd never heard of, she came to me and said, "You've achieved your childhood dream."

My motivation was simply, " I want to give it a try ."

Everyone experiences fear and other emotions; the most important thing is to accept these emotions. "Clouds in the blue sky, water in the bottle"—accept the good and bad that happen in life; everything is the best arrangement.

Q: Will Binance relaunch BUSD? Are there plans to enter the US market? Will the regulatory environment be more stringent in the next election?

He Yi: I want to give it a try. If I can do it, I will, and I will also accept the facts.

American politics is vast, and we're not that close to it. Let's look at the true nature of the US objectively; Binance is just a company trying to survive in the cracks and can't influence the government or policy-making.