Eddy
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@KevinColleran 9. sourcing @pettylawsuit




The First Lady of Crypto: How Yi He Built the Binance Empire Today, Binance announced that Yi He has been appointed as Co-CEO. For many in the English-speaking crypto world, the name might be unfamiliar. Everyone knows CZ, the face of the world’s largest crypto exchange. But to truly understand the Binance empire—its meteoric rise, its resilient culture, and its strategic genius—you must understand the other co-founder, the woman who has been its secret weapon from day one. Who is Yi He? She is the one who gave Binance its name. She is the one who discovered and recruited CZ into the crypto industry. She is the one who saved the company from the brink of collapse not once, but multiple times—turning a regulatory apocalypse in China into a global expansion and a crashing token into a multi-billion dollar asset. While CZ built the engine, Yi He designed the ship, charted the course, and held the crew together through every storm. For years, the Western media failed to grasp her significance. A 2023 Bloomberg feature, titled ‘The Most Powerful Woman in Crypto,’ infuriated her by painting her as a figure ‘trapped in the crypto empire,’ her power merely a derivative of her relationship with CZ. The article, published amid an SEC crackdown that saw billions flee the exchange, portrayed her as a ‘single point of failure.’ They missed the point entirely. Yi He isn’t a bug; she’s the operating system. In the Chinese crypto community, she is a legend known as ‘Yi Jie’ (一姐), the ‘First Sister’ or ‘First Lady.’ Now, as she officially steps into a shared leadership role, the rest of the world is about to learn the story of the ‘Queen of Crypto’. This is the story of how she built the Binance empire. The Kingmaker Yi He’s journey into crypto was unconventional. A former TV host for China Travel Channel, she had a background in psychology and a reputation for being resilient. But she was drawn to the world of entrepreneurship. In 2013, she got her first taste of Bitcoin when an investor friend, Mai Gang, asked her to promote a red envelope giveaway for a fledgling exchange called OKCoin (the predecessor to OKX). Intrigued, she agreed. At a thank-you dinner, she met OKCoin’s founder, Star Xu. They hit it off, and he offered her a job on the spot. She accepted without even negotiating the salary. In March 2014, Yi He became the VP of OKCoin, responsible for brand and marketing. She was a natural. She took the obscure brand to New York’s Times Square and into the pages of the high-fashion magazine Harper’s Bazaar, which dubbed the team the ‘OKCoin Dream Team.’ In a now-famous photo of that feature, a new face appeared next to Star Xu: Changpeng Zhao, CZ. Yi He had spotted CZ, then the technical director for Blockchain.info, at a conference. Impressed by his professionalism, she knew she had found a crucial player. She recruited him to OKCoin, forming the legendary ‘Iron Triangle of Crypto’ alongside founder Star Xu. The alliance, however, was doomed. Clashes between the two tech-brained men were constant. A public feud over the operation of the Bitcoin.com domain, involving ‘Bitcoin Jesus’ Roger Ver, ended with CZ’s dismissal. Caught in the crossfire, Yi He, the kingmaker, quietly exited the kingdom she had helped build in late 2015. After a successful stint in the mainstream tech world, she received a call. It was 2017. CZ had a whitepaper for a new kind of exchange. He had a strange name for it that sounded like a supermarket. ‘Why not call it Binance?’ she suggested, coining the name (币安, a blend of ‘coin’ and ‘safety’) that would soon become legendary. She wrote a farewell letter to her high-paying tech job titled ‘A Fresh Start Before 30!’ and joined him, starting from zero all over again. The Architect of an Empire Yi He’s return to crypto was an explosion. In July 2017, Binance’s newly launched token, BNB, had crashed below its ICO price. The project was on the verge of collapse, and CZ had lost 10 kilograms of weight from the stress. The moment the news of Yi He joining as a co-founder and CMO was announced, BNB’s price skyrocketed over 2,000% in two weeks. She didn’t just bring her reputation; she brought her own money, investing what little she had left into BNB. ‘If you don’t believe in it yourself,’ she said, ‘how can you expect others to?’ She brought her marketing talent with her. In a stream with Justin Sun, she helped sell 500 million TRON tokens in just 53 seconds. Days later, she secured a letter of intent for a Series A investment from Sequoia Capital China. Then, disaster struck. On September 4, 2017, China banned all ICOs, effectively killing the domestic crypto market. For most, it was the apocalypse. For Yi He and CZ, it was the opportunity of a lifetime. While their competitors floundered, Binance, already incorporated overseas, went all-in on a global strategy. Yi He directed the pivot, encouraging users with VPN tutorials while orchestrating the company’s launch in Japan. Crucially, Binance refunded its Chinese investors at BNB’s market price, not the lower ICO price—a move that cost them a fortune but earned them unwavering trust. It was a masterstroke. As users fled other Chinese exchanges, they flooded into Binance. By December 2017, Binance was a top-three exchange. By January 2018, its daily volume topped $10 billion. In six months, Yi He had turned a failing token and a regulatory catastrophe into the world’s number one crypto exchange. Her strategic genius shone brightest in the darkest of times. During the brutal bear market of 2019, when rivals were cutting back, Yi He pushed Binance to build. She was the driving force behind the launch of the Binance Smart Chain (now BNB Chain) and the pioneering of the Initial Exchange Offering (IEO) model with the Launchpad. These innovations didn’t just keep Binance afloat; they created a new center of gravity in the crypto universe. The Guardian ‘Everyone thinks Binance’s ICO was about raising money,’ Yi He said in 2017. ‘But what you were actually raising was debt, and this debt might be for a lifetime.’ She has carried that debt personally. To the community, she is the ‘Chief Customer Service Officer’ and the ‘Chief Firefighter.’ She is the one in WeChat groups at 3 a.m. answering a user’s mundane question. She is the one who steps up to debunk FUD during a market panic. When she first joined, she gave her marketing department a strict order: everyone must be a customer service representative. She personally trained them all. She is the architect of the company’s 8,000-person team, yet she remains the most accessible—and feared—figure in the organization. Her management philosophy is simple: ‘If someone on your team is underperforming, it’s inevitably the manager’s problem.’ She is a mother of two who could have retired a billionaire years ago, but she remains on the front lines, famously stating that her only job is to ‘work for the BNB holders.’ When CZ stepped back from his CEO role in 2023, the world wondered if Binance could survive. But those who know the history, who have seen Yi He in action, know the truth. She is not just a co-founder. She is the kingmaker, the architect, and the guardian of the empire. She is the one who gave Binance its name and its soul. The future of Binance still needs its queen. Full Read: en.theblockbeats.news/news/53294



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