Alarmist talk will not kill Binance, co-founder says

Former TV show host and Binance co-founder, Yi He, took to social media late Saturday to shun off the exchange’s naysayers piling messages of FUD (fear, uncertainty, doubt) on the exchange.

Her comments come on the heels of Binance founder Changpeng Zhao’s recent resignation as CEO and Binance US board chair.

Alarmist talk will not kill Binance, it will only make more people stand with Binance. Because this is an era of highly transparent information, if you want, you can #DYOR!
Technology changes the world. https://t.co/zqieqfvAbb

— Yi He (@heyibinance) December 9, 2023

On X, He shared a screenshot of DeFillama’s CEX transparency chart, which showed Binance sitting atop with the most IOU assets and TVL, at $74.97 billion and $66.9 billion, respectively. She then quoted the X post, beckoning the crypto community to DYOR, or do your own research, “because this is an era of highly transparent information.”

CEX Inflow, Assets and TVL chart. Source: DeFillama.com

“Only those jokers who are mediocre and hopeless for the future need to FUD Binance on Twitter every day to get public attention.”

Binance Co-founder Yi He on X

Although He has reportedly been around the company’s activities since its onset, very little is known about what role she plays in Binance. She has described herself as a “Chief Customer Service Officer,” which vexes customers, as she clearly stated in 2022 that she doesn’t manage the startup’s customer service.

In 2022, Reuters brought to light news of Zhao and Yi He’s romantic involvement, saying the two reportedly have two children together.

Zhao was aggravated by the story, discretely telling Reuters that information about his children is not “in the public’s interest.”

In late November, Binance and Zhao pleaded guilty to money laundering charges filed by the US Treasury Department, Department of Justice, and the Commodity Futures Trading Commission, among other financial authorities. The exchange agreed to pay about $4 billion to clear their name.

You might also like: Binance’s Changpeng Zhao barred from leaving U.S. ahead of sentencing

According to the U.S. DOJ’s records, the virtual currency trading platform was charged with violating the Bank Secrecy Act (BSA) because it failed to register as “a money transmitting business.”

Although Zhao had to step aside from his Binance US position, Yi He’s name didn’t appear in any of the financial authorities’ charges. Per Bloomberg, the Binance Co-founder said if the watchdogs deem Binance noncompliant with the present regulations, then there’s “practically no other global trading platform or offshore company is.”

Since the news about Binance’s violations, Binance Coin (BNB) price has dropped by more than 10%, and is now hovering around the $237 to $240 mark.

Read more: Binance may have settled with DOJ, but a lawsuit with the SEC is still pending

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