Global fintech and funding innovation ecosystem

Binance’s co-founder, Yi He, Steps in the Limelight to Oversee $7.5 Billion Crypto Portfolio

Protocol | Benjamin Pimentel | Aug 17, 2022

Binance Yi He - Binance’s co-founder, Yi He, Steps in the Limelight to Oversee $7.5 Billion Crypto PortfolioYi He is overseeing a $7.5 billion portfolio, with more investments to come, making her one of the most powerful investors in the industry.

Binance co-founder Yi He isn’t as well known as the crypto giant’s colorful and controversial CEO, Changpeng “CZ” Zhao.

The company has been essentially banned in CZ and He’s native China, which blocked the Binance.com site the year the company launched in 2017. Last year, Binance disallowed trades involving the Chinese yuan after China declared crypto transactions illegal. It seems like a painful irony for He, who came up with the Chinese name for the company, which translates as “safe coins.”

See:  Caution: Binance Chain Red Alarm System Flags 50 New Projects as Potential Scams

That could soon change. The 35-year-old executive is taking on a new, higher-profile role at the world’s largest crypto exchange as head of Binance Labs, the company’s venture capital arm. With $7.5 billion in assets to oversee, that instantly makes her one of the most powerful VC investors in crypto.

  • Binance, which now has more than 6,000 employees, operates from regional offices in Dubai, where He now spends most of her time, and France; she travels to Europe frequently.
  • She grew up in a rural area in Sichuan province in western China, where her parents worked as teachers. “I'm from a very small village and a very poor family,” she said.  She met CZ at a crypto meetup when she was working as a vice president at a mobile video tech company. CZ invited her to join him in launching Binance in 2017.
  • She agreed, though it was a rocky launch. Binance’s native BNB cryptocurrency crashed by 50% on its first day, though it quickly recovered, she said.
  • “Many executives have underestimated her fierceness and resolve to win,” Wang said. “She’s learned to round out her rough edges, and folks value the continuity in her approach.”

See:  Binance BNB Coin Takes a Hit on News of Potential SEC Investigation

“Instead of shunning regulators, she’s been going head-on and engaging them,” he said. “She knows the winners in crypto will be regulated.”

Continue to the full article --> here


NCFA Jan 2018 resize - Binance’s co-founder, Yi He, Steps in the Limelight to Oversee $7.5 Billion Crypto PortfolioThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Binance’s co-founder, Yi He, Steps in the Limelight to Oversee $7.5 Billion Crypto PortfolioFF Logo 400 v3 - Binance’s co-founder, Yi He, Steps in the Limelight to Oversee $7.5 Billion Crypto Portfoliocommunity social impact - Binance’s co-founder, Yi He, Steps in the Limelight to Oversee $7.5 Billion Crypto Portfolio

Support NCFA by Following us on Twitter!







NCFA Sign up for our newsletter - Binance’s co-founder, Yi He, Steps in the Limelight to Oversee $7.5 Billion Crypto Portfolio




 

Leave a Reply

Your email address will not be published. Required fields are marked *

2 + nine =