- Binance is the largest crypto exchange in the world, transacting more than $US2 ($AU3) billion in average daily trading volume.
- At the helm of growing its business, marketing, and branding strategy is Yi He, co-founder and CMO.
- He shared with Insider her stance on crypto regulation, meme coins, women in leadership, and remote work.
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Binance, the largest cryptocurrency exchange in the world, is a big operation, doing business in around 180 countries and transacting more than $US2 ($AU3) billion in average daily trading volume.
At the helm of growing the business further, is Yi He, Binance’s co-founder and CMO, and the right-hand woman of CEO Changpeng Zhao.
In an interview with Insider, He shared her stance on the evolving regulatory landscape, the role of the internet in crypto growth, the rise of meme coins, and the importance of having women in leadership roles.
On regulation and the search for a physical HQ
Binance, founded in 2017, has been under intense scrutiny from global regulators this year. This had led to dozens of jurisdictions issuing bans and warnings against the exchange.
Among the main concern is Binance’s lack of a physical headquarters, which its CEO in September finally admitted that it needed in order to do business within the boundaries set by global regulators. Binance, since its founding, has allowed employees to work remotely, a style she described as “futuristic.”
“Maybe we are years ahead of the time,” she told Insider. “Now everyone is working from home.”
She said Binance has a shortlist of five countries, with some in Europe, but declined to comment further on specifics. She did say it would all boil down to which regions have crypto-specific legislations. But contrary to what others may think, He said she is happy that regulatory officials are clamping down on the digital asset space. It means the industry is maturing, she said.
“We have been setting up self-regulation,” she said. “We have been having strict internal policies, such as no insider trading, and have been protecting users from scammers. We are fighting this.”
On crypto growth
When it comes to crypto demand, He said countries with advanced internet infrastructure are where they see the biggest demand as well. “Internet helps crypto,” she said.
That aside, countries that have seen their fiat currencies tumble in value, such as those in Africa, have seen a corresponding spike in crypto demand, she added.
On meme coins
As for dogecoin, shiba inu, squid, and other meme coins that have been in the spotlight, He said it’s all about FOMO, and urged investors to proceed with caution.
“These began for fun,” she told Insider. “I don’t think it’s a long-term situation.”
As for her own holdings, He said she only holds binance coin, the crypto issued by the exchange. She did have bitcoin and ether a few years back, but gradually sold them, she said.
On women leaders
The wider industry is known for being male-dominated, but Binance, He said, stands out. Its managerial team comprises at least 35% women, an initiative she has proudly spearheaded.
He, who recalled hopping on a work call a day after she gave birth, said women have to work harder to prove they deserve their place at the table. But companies, she said, should respect the different strengths women offer, especially those who are mothers.
“Women don’t believe they can deliver the target but they can,” she said.
On leadership challenges
It has to be the nature of remote work, she said, which makes it difficult to build a company’s culture. He noted she tries her best by scheduling one-on-one calls with her colleagues and teammates to establish connections.