{"id":29163,"date":"2023-06-29T11:46:46","date_gmt":"2023-06-29T15:46:46","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/binances-powerful-co-founder-yi-he-breaks-silence-amidst-regulatory-turmoil\/"},"modified":"2023-06-29T11:46:48","modified_gmt":"2023-06-29T15:46:48","slug":"binances-powerful-co-founder-yi-he-breaks-silence-amidst-regulatory-turmoil","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=29163","title":{"rendered":"Binance’s Powerful Co-founder Yi He Breaks Silence Amidst Regulatory Turmoil"},"content":{"rendered":"
\n

Despite a long history spent away from the public spotlight, Binance co-founder and senior executive Yi He is finally speaking up as two of the United States\u2019 chief market regulators sue her company.<\/p>\n

In an interview with Bloomberg last month in Dubai, she argued that Binance is a greater ally to regulatory compliance than virtually any other company in the global crypto industry.\u00a0<\/p>\n

\u201cIf they really took the time to understand our industry, they would see that if Binance isn\u2019t compliant, then practically no other global trading platform or offshore company is,\u201d she said.\u00a0<\/p>\n

He\u2019s comments came two months after the Commodities and Futures Trading Commission (CFTC) lawsuit against her exchange, right before another case<\/u> from the Securities and Exchange Commission (SEC) earlier this month.<\/p>\n

Both lawsuits alleged that Binance engaged in forms of market manipulation while also secretly serving customers within the United States from its international platform, among other things.\u00a0<\/p>\n

Despite their long list of accusations, the co-founder respects the attitude of regulators. \u201cI understand that the overall intention of regulation is good in order to protect investors,\u201d she said.<\/p>\n

Binance handles more than half of the global crypto trading volume, yet much of the company\u2019s operations are shrouded in mystery, from its ownership structure to its financial health.\u00a0<\/p>\n

Nevertheless, He asserts that Binance is more transparent than critics say, and is cooperating with U.S. regulators \u2013 though Washington authorities have disputed this. She declined to respond to accusations that market makers affiliated with Binance CEO Changpeng Zhao (CZ) artificially pumped token volumes on Binance, or that the exchange commingled client assets.\u00a0<\/p>\n

Who Is Yi He?<\/h2>\n

Yi He is a former Chinese television host who first broke into the crypto exchange scene working at OKCoin in 2014. She hired CZ as chief technology officer while she was there, who later asked her to be a consultant for Binance in 2017, and rewrite parts of the company\u2019s whitepaper.\u00a0<\/p>\n[CZ] \u201cbringing me to Binance is based on the achievements I had already established,\u201d she explained.<\/p>\n

She now oversees Binance\u2019s multi-billion dollar venture fund Binance Labs, which has backed projects like the decentralized file-sharing system BitTorrent, and blockchain game Axie Infinity. She\u2019s also been involved with the growth of Binance\u2019s BNB Chain, and oversaw the acquisition of crypto price tracker CoinMarketCap.\u00a0<\/p>\n

While Yi He\u2019s share in the company is undisclosed, she is known to share a massive fortune with CZ, whose net worth is roughly $29 billion.\u00a0<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite a long history spent away from the public spotlight, Binance co-founder and senior executive Yi He is finally speaking up as two of the United States\u2019 chief market regulators sue her company. In an interview with Bloomberg last month in Dubai, she argued that Binance is a greater ally to regulatory compliance than virtually […]<\/p>\n","protected":false},"author":1,"featured_media":29164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-29163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nBinance's Powerful Co-founder Yi He Breaks Silence Amidst Regulatory Turmoil | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Despite a long history spent away from the public spotlight, Binance co-founder and senior executive Yi He is finally speaking up as two of the United\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=29163\" 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