![]() ![]() “I understand that the overall intention of regulation is good in order to protect investors.” To be clear, Binance is hardly the only firm feeling the heat. “We respect the attitude of regulators, whether it supports or opposes the development of crypto,” she said. ![]() In response to the latest US allegations that signal the end of the freewheeling crypto era, Yi He struck a more conciliatory tone in a follow-up WhatsApp message. Yet at first blush, the pairing - and the governance issues it raises - recalls the onetime romance of Sam Bankman-Fried and Caroline Ellison at now-doomed FTX. ![]() She likens her relationship to the Binance CEO as similar to having a college roommate. While Binance famously claims it has no formal headquarters - making it harder in theory to sue and regulate - Yi He and Zhao have set down roots in the firm's adopted home in the Gulf city-state. (The size of her stake is undisclosed.) The pair’s fortunes are shared on multiple fronts: They have been partners in business and in life, and have children together. CEO and co-founder Changpeng “CZ” Zhao is worth around $29 billion, according to the Bloomberg Billionaires Index, and Yi He also enjoys massive wealth as an early shareholder. With the company’s commanding market share now under pressure, top executives have billions at stake. US financial watchdogs accuse Binance in civil complaints of operating illegally, violating trading rules and falling short on compliance, and it faces scrutiny elsewhere from France to Australia. Now she’s confronting the most dangerous moment in the history of the firm, a dominant force in everything from token trading and venture capital to digital art. After successfully marketing Binance in its early days across media platforms, Yi He - a former host on Chinese television - proved instrumental to its meteoric rise. She also has much to lose as the regulatory onslaught deepens and causes an existential crisis for crypto’s largest exchange. As a co-founder of the besieged digital-currency empire, she’s one of the most powerful players in the $1.2 trillion industry. One senior Binance executive has managed to stay out of the global spotlight over the past six years and counting - even now as governments everywhere intensify their crypto clampdown: Yi He. ![]()
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