When he was a girl in the 1980s, she walked up to the well to drink water, sometimes relying on kerosene lamps to light up the house. Things are different now. Today, Yi is a celebrity of millions of Chinese and multimillionaire, thanks to her reporting a 10% stake in Binance, the world’s largest cryptocurrency exchange, where she has played a huge role as co-founder and senior executive. However, life is not easy.
Another co-founder of Binance, the gorgeous Changpeng Zhao, went to jail in the United States last year $4 billion Plea agreement. This situation posed a huge business challenge for binance, and for him it was a painful personal challenge, as Zhao was not only the CEO of the company, but also the father of her little child.
Today, binary seems to have gone through its hardships. Zhao serves him sentenceAnd, despite the blow to most companies, binance remains the top priority for the world’s largest cryptocurrency exchange. Yi He has been achieving this goal, and after years of waving his power behind the scenes, he is taking on a more open role.
In a rare interview, he told wealth About her journey from poor country girl to crypto billionaire, the tests she faced in the year of Binance’s crisis and her vision for an industry that quickly transforms global finance.
Common touch
He overcomes many obstacles throughout her life and career, one of which was learning English, which she occupied in the mid-40s. For a long time Soaring In the interview, he was acquitted and fell into translation only when he tried to interpret Chinese idioms or proverbs.
He knew the power of communication. While at Binance, she was known for her marketing and customer service skills, which helped the world’s biggest communication in less than a year. Until today, she is proud to listen to Binance customers on Telegram, X, WeChat, and other other platforms she may find, and insists that everyone else does. She famously asked everyone who came to work for Binance to spend weeks on the frontline of customer service.
Yi He described a recent encounter with a college student who had sent $500 worth of cryptocurrency to the wrong wallet, a common mistake that usually means that the funds are gone forever. However, he spent some time tracking and recovering the misleading funds, recalling the way the student told her: “It’s a small person to you, but to me everything is.”
Yi said that given her experience growing up in Sichuan Province, she lost her father at the age of 9, and when she was 16, she spent a long time working to promote soft drinks outside the supermarket. Although she ended up in college (he paused to recall the first time he was in the library) and was a career as a TV host, she said her humble beginnings meant she could still be associated with many of Binance’s clients with modest means.
Yes, his story reverberates Jennifer Lopez’s “Jenny” Blockage,” a song about a beautiful woman who, even after she is rich and famous, still maintains a common touch—an American story shrouds in this story.
But that’s not how it plays in China, he has worked at Binance before, said Eowyn Chen, CEO of Crypto Firm Trust Wallet. According to Chen, the Chinese people are less inclined to take root for the weak, but are more likely to insult those who rise at the station. Chen said he was a regular goal of trying to demean and ridicule her articles and social media barbs, but her response was to make negative comments to those who were wandering.
Chen said: “She told people, ‘Of course, I came from a bad background and did a great job, so why don’t you do that?”
Yes, Bloomberg Dubbing “The Most Powerful Woman in Crypto Women” uses this mix of wisdom, hustle and arrogantness to climb the top of the blockchain world – she shares quality with her co-founder and romantic partner.
Building binary
When Zhao launched Binance in 2017, he had already established a massive public role like CZ, which he is well known today. Zhao established CZ Myth By taking huge risks (such as selling his Shanghai apartment in 2014 to buy more bitcoins) and enthusiastically joining everyday daily necessities for a very online community known as Crypto twitter.
Zhao asked him to join Binance early, but only after her first recruitment he A few years ago, when she convinced him to join her as Chief Technology Officer at Okcoin (now OKX). The two have a passion for cryptocurrency, but so are other qualities. Zhao spent his early years in an unheated rural school building, like Yi, until his father immigrated to Canada, where he worked in high school, while in high school. Herringbone and McDonald’s. Zhao also tends to look back and laugh at those who laugh at his background, and even retweeted his memes in a golden arch uniform.
It was during their time at Okcoin that the two became a couple as they gained experience running a large crypto business. Today, the couple is never married but romantically involved, working closely as parents and business partners. He is co-owner of Zhao, a Binance Venture Capital Arm transforming home office Yzi Labs, and owns at least 10% of the parent company. Wall Street Journal.
Regarding the nature of her relationship with Zhao, he asked not to quote records on the record, but to provide a written statement: “My personal life has nothing to do with my career. My achievements and abilities as a co-founder are often overlooked by my personal life,” she wrote, while touting a base of aristocratic users with 280 million clients.
Regardless of the personal level of the relationship, its professional aspect proved to be very effective, and Yi roughly occupied the equivalent of Sheryl Sandberg, who helped the then unresolved CEO Mark Zuckerberg in the early days.
In practice, this means Zhao has taken over Binance’s larger than life host and product visionary role, and has incited huge growth through active promotions including car giveaways. Her approach is beneficial to the Chinese community and in China, where cryptocurrencies are technically banned but are still very popular, partly because it is an easy-to-transfer asset, which is covered by government capital controls.
One Binance employee who asked not to be named to discuss the company’s executive described it as a harsh boss, but supported the employees and supported those around him. Discussing Binance’s day-to-day operations, he said the company’s core tenet is “founder culture,” a phrase from the technology community that describes companies that retain the original driving force of its early launch era.
In terms of binance, part of the early reason was the willingness to quickly and relax through regulation and to quickly and loosely with scrutiny of the government. While the strategy helped fuel Binance’s incredible growth, it was sometimes the company’s biggest weakness, which cost it the most famous founder.
Binance after CZ
By early 2023, the walls have been closed. ftx During the last year’s exchange, the Biden administration redoubled its efforts to bring the cryptocurrency sector to the high heels, with a special focus on Binance, the industry’s biggest player. The company’s lawyers have been discussing various charges with the Justice Department for years, but it was finally time to reach a deal.
The agency announced a detailed settlement in September 2023 that not only paid a fine of up to $4.3 billion in the semester tax, the largest in the company’s history, but also forced Zhao to resign as CEO’s plea and plead guilty for failing to implement sufficient anti-fine measures. Both Wall Street Journal Meanwhile, Reuters listed several unnamed sources, claiming that the agency also tried to force him to leave the company. (“The Binance plea agreement reached with U.S. regulators is a matter of public records,” a company spokesperson said.)
Despite a huge blow to its Treasury and leadership, two years later, binance remains Zhao’s successor, Richard Teng. Teng, formerly the former top regulator in Singapore, helped the company implement a range of compliance measures and project a new image, suggesting it has surpassed early rapid cycle strategies. In January, Binance also took a major step, the first time that a formal board structure was introduced, which included seven members including Teng and three independent directors.
Nevertheless, the company’s former employee told wealth Binance’s power resides in its place for a large part – Zhao, Yi He and two other early Binance executives Lilai “Roger” Wang and Wei “Sonny” Zhou. The person demanded disagreement to speak frankly, adding that among all personnel, he had the final say in all personnel and had the greatest authority in customer experience decision making. Meanwhile, a Binance spokesman said the statement was not accurate and that the company’s culture encouraged employees to exercise a high degree of autonomy.
Meanwhile, the founder of a venture capital firm called Binance a company with a “iron fist”, despite dealing with new legal restrictions and the challenge of operating a massive global operation without the danger of losing its position as a market leader. The assessment appears to be supported by the latest data provided by Coingecko, which shows that Binance sticks to the share of Lions’ trade activity (39% of the number of centralized exchanges in June), despite the emergence of new competitors:
Co Ringecko
For Yi, Binance’s continued dominance is a validation of her clients’ first strategy, and the company’s founder’s personal dedication to cryptocurrencies, which she believes is a transformative technology that changes traditional media and television with the advent of the Internet.
He predicts that cryptocurrencies will accelerate their entry into the conventional financial system through Stablecoins and other blockchain technologies, and both areas will be fully integrated within five to ten years.
On a personal level, he said that when her house was out of electricity or running water since her teenage years, the massive adoption of cryptocurrencies felt like another huge technological change she had experienced.
As for the experiments she went through along the way, she quoted the Mongolian proverb: “Since you said it well, don’t say pain. If you say something good, don’t mention pain.”