On August 3, Binance, the world’s largest cryptocurrency exchange, appointed co-founder Yi He as the manager of Binance Labs, the company’s investment and development unit.
In the announcement from Binance, Yi He will oversee the day-to-day operations and map out the global strategy for Binance Labs, focusing on investing in potential founders for the future of the industry.
“As an industry leader, my goal is to help build blockchain standards by identifying and supporting potential projects, building quality blockchain solutions for the ecosystem.”, Yi said.
The Binance founder also said that to accelerate the integration, they will focus their resources on projects in the web3 domain and create products that offer solutions to real-world problems.
In addition to his duties at Binance Labs, Yi will continue to undertake business at Binance including community support, business organization, marketing, Binance P2P, and Binance Earn.
Yi He was part of the founding team of the Binance exchange in 2017 as a Marketing Manager. Before joining Binance, she was a vice president at Yixia Technology, a mobile technology company. In addition, she also joined OKCoin, a digital asset exchange in 2014.
Yi He’s appointment comes just two months after Bill Qian stepped down from his position to lead Binance Labs. During the same period, CEO Nicole Zhang also left Binance Labs after two years at the company.
Binance Labs has invested in more than 200 projects with a total capital of up to 7.5 billion USD. Recently, the company raised $500 million to support startups in an effort to accelerate the integration of crypto.