A High-Profile Executive at Binance Speaks Out Amid Legal Battles
Yi He, a senior executive at Binance and early shareholder, has recently spoken out as the company faces legal challenges from top market regulators in the U.S. In an interview with Bloomberg, He expressed her respect for regulators’ “attitude” and “intentions,” but also believes their actions are misguided. She argues that if Binance is not compliant, then no other global trading platform or offshore company is. Binance has emphasized its efforts to maintain global legal compliance and claims to offer more transparency than its critics suggest. The company’s workforce includes a significant number of compliance staff with expertise in law enforcement, regulation, and banking.
The SEC Lawsuit and Binance’s Response
The Securities and Exchange Commission (SEC) recently launched a lawsuit against Binance, followed by a separate lawsuit by the Commodities and Futures Trading Commission (CFTC). Both lawsuits raise concerns about Binance serving U.S.-based customers from its international platform. Despite the legal challenges, Binance published a blog post outlining its commitment to comply with regulations worldwide. The company’s lack of a formal headquarters has made it more difficult to regulate or sue. However, Binance aims to cooperate with regulators rather than evade them, recognizing that global regulations are an inevitable trend.
The Relationship Between Yi He and Binance CEO Changpeng Zhao
Yi He’s history with Binance CEO Changpeng Zhao dates back to her time at OKCoin, where she later hired him as a Chief Technology Officer. She then became a consultant at Binance and played a role in rewriting parts of the company’s whitepaper. It is an open secret within the crypto industry that she is the mother of Zhao’s children. However, He describes their relationship as more of a “comrade in arms” rather than a romantic partnership. She views their connection as based on shared beliefs and values, rather than physical attraction or selfish desires.
Hot Take
Yi He’s statements shed light on Binance’s perspective on the legal battles it is facing. The company emphasizes its commitment to compliance and transparency, while also advocating for a cooperative approach with regulators. The relationship between He and Zhao adds an interesting dynamic to the situation, highlighting their shared vision for the company. As Binance continues to navigate the legal landscape, it remains to be seen how the outcome will impact the future of the exchange and the broader cryptocurrency industry.
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