Wednesday, October 5, 2022

Binance Announces Yi He as Lead of Binance Labs

The world’s largest crypto exchange by trade volume has announced today that its co-founder Yi He will lead its venture capital (VC) arm. This comes after the VC and incubator Binance Labs bagged a $500 million fund to invest in Web3.0 and other blockchain projects. 

Yi He is a 36 years old Chinese crypto veteran who co-founded Binance alongside Changpeng Zhao also known as C.Z.

She holds the position of Chief Marketing Officer at Binance. Yi had been behind the scenes at Binance for a while now and when asked the reason for that, she attributed it to her level of spoken English.

“The reason is my English level, to be very honest, I don’t want to make a mistake,” she said.”  Yi He only started learning English a year and a half ago. 

Significantly, she entered the crypto ecosystem in 2014 as a co-founder of OKCoin. During her time at OKCoin, a bearish market ensued. Amidst that market, she grew the company’s market share by 60% in China. Yi affirmed that the bearish market was a good avenue to discover amazing talents.

“The tough times in crypto reveal “creative, amazing people,” Yi said.

Yi He Joins the Binance Team

Three years later, she joined C.Z in Binance with two members of staff on her team. Apart from her CMO duties, Yi handles licensing for Binance in Europe. According to Zhao, Yi He possesses impressive business acumen, and strategic thinking skills along with her attention to detail.

On her part, Yi explained that working with C.Z was good for her. She outlined the fact that they shared similar values, and culture, along with his background and skills which is capable of birthing a global enterprise. 

Yi He said,

“He was the first guy who made me feel like he had the skills to transfer difficult technology into simple language that people could understand.”

In her few years with the exchange, Binance has experienced strategic growth in various regions. In Q1, Binance received an operational license from Dubai to provide its range of products to its citizens. Again in Q2, the exchange subsidiary Moon Tech Spain obtained a virtual assets service provider (VASP) license from Spain.

All things considered, Yi He will still continue her work with the parent company while she is at the helm of activities at Binance Labs.

Victoria Nye
A Blockchain columnist who is enthusiastic about developing a network interface between the real world and the cryptosphere.

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