He Yi Legend: How a Business Woman Controls a Crypto Empire

From walking out of a kerosene lamp in the mountains of Sichuan to the top decision-making room of the world’s largest crypto exchange, He Yi has written a modern business legend in 37 years. The key word in this story is not “luck,” but “choice”—every critical moment’s decision has shaped her life trajectory.

Some say she is the queen of the crypto world, but a more accurate description is: He Yi is a leader who, with business wisdom and human insight, transformed a startup exchange into a global financial infrastructure.

From a Humble Background to an Ambitious Seed (1986-2006)

In autumn 1986, while cities already had electric lights, a little girl in the Sichuan mountains was doing homework under a kerosene lamp. This girl, He Yi, who started elementary school at age five, was the daughter of rural teachers.

While other children were still memorizing multiplication tables, He Yi was exploring applied mathematics. Her early intelligence made her feel especially lonely among peers—when your cognition surpasses that of your classmates, daily conversations become difficult. But this loneliness cultivated an important trait: observation. She often listened quietly to her father and village officials, full of curiosity about the outside world.

In 1995, at age 9, He Yi’s father suddenly passed away. This blow should have crushed a child, but instead it ignited her innate resilience. She began helping her mother with farm work, managing household chores, while maintaining top grades. Villagers said: “This child has a hard life, but she’ll make something of herself.”

In 2002, at 16, He Yi faced a choice: continue studying or go to work? Her family lacked the financial means to support her university education. Unexpectedly, this academically excellent girl chose to drop out.

Her reason was simple and mature: “Knowledge in books has limits, but society’s big book is endless.”

Business Enlightenment Through Struggles at the Bottom (2002-2012)

At the entrance of a supermarket on Chengdu Renmin South Road, 16-year-old He Yi started her first job—selling drinks.

Looking young, she quickly discovered sales patterns: in the morning, mainly elderly customers, emphasizing health benefits; in the afternoon, mostly students, highlighting fashion; at night, couples, creating romantic atmospheres. Her keen observation of customer psychology made her a sales star.

By 2004, at 18, He Yi was already a store manager of a home goods shop—an impressive achievement for that era. Her management skills were remarkable: handling accounts and staff, maintaining customer relationships, controlling costs. More importantly, she deeply understood a business essence: doing business is about understanding people—knowing what customers want, fear, and care about.

This experience was crucial for her later work in crypto. User psychology in the crypto world is similar: seeking value for money, fearing scams, craving security.

In 2006, after four years of grinding in retail, He Yi made an unexpected decision: to pursue a master’s in psychology in Beijing. Friends questioned: “You’re doing well in Chengdu, why suffer in Beijing?”

He Yi’s answer showed her foresight: “The biggest bottleneck in business isn’t finding customers, but understanding their psychology. I need to systematically learn this discipline.”

Life in Beijing was tough. She lived in a basement in the suburbs, took crowded buses to classes daily, and worked part-time at night. But she studied very diligently, especially consumer psychology and behavioral economics—knowledge that later played a significant role in her marketing work in crypto.

However, He Yi soon realized that the maturity of the psychology consulting industry in China was insufficient for her career development. Around 2010, Chinese society’s awareness of mental health was still lacking. This market misjudgment made her realize: timing the industry choice is also crucial.

Media Accumulation and First Encounter with Bitcoin (2012-2014)

In 2012, at age 26, He Yi was contemplating a new career direction. A friend working in directing suggested she try hosting. She initially refused: “I have no professional background, and I’m too late at 26.”

But her friend insisted. During the final interview, other candidates were beauty pageant winners or professional actors; He Yi seemed unremarkable. Yet, she impressed the judges with her self-introduction:

“I lack a professional background, but I have a psychology foundation and empathy. I’ve studied makeup, which can save costs. Most importantly, I’m willing to pay for opportunities.”

Thus, He Yi became a travel show host on a satellite TV channel.

The biggest gain from this job wasn’t fame but connections. She deliberately attended startup forums and investment events, spending more time engaging with entrepreneurs and investors than with entertainment industry socializing. Her contacts included many founders and investors, far more than entertainers.

In 2013, she invested in stocks, catching the bull market wave, turning a small amount into several times more. This success sparked her deep interest in finance, leading her to systematically study investment theory.

Before Spring Festival 2014, a call changed everything. An industry insider asked if she was willing to help promote a Bitcoin red envelope event during the holiday. She knew little about Bitcoin then but was curious enough to research.

Decentralized, global circulation, 24/7 trading, no single government control—these features made her realize she had discovered a new, promising field. She participated in the promotion and wrote an analysis article on Bitcoin’s investment value, which resonated within her social circle.

Market Practice at OKCoin (2014-2017)

After the Spring Festival, an investor organized a dinner where He Yi met Xu Mingxing, founder of a well-known exchange. They hit it off, and Xu quickly saw her qualities: insight into crypto, media resources, and marketing experience.

“He Yi, interested in joining us? 400,000 RMB annual salary,” Xu offered.

He Yi didn’t accept immediately. She asked: “I want to understand your business model and team first.”

A week later, after on-site inspection, she was convinced this was her opportunity and agreed on the spot.

In June of that year, she met CZ (Zhao Changpeng), a Chinese technical expert, at a blockchain conference. His explanation of blockchain technology was clear and profound. She added him on social media. After months of online communication, she found CZ not only technically skilled but also with an international outlook and overseas experience.

He Yi recommended CZ to Xu Mingxing, which led to CZ joining as CTO. This created a collaborative framework within the exchange: strategic, technical, and marketing teams working together.

During this period, He Yi used her media and marketing skills to rapidly boost the exchange’s visibility—inviting prominent investors, advertising in New York, sponsoring industry events. These strategies transformed the platform from an unknown player to a leading domestic platform. She earned the nickname “Number One Sister.”

But the good times didn’t last. In late 2015, disagreements over product direction caused the technical lead and founder to part ways. He Yi, as the introducer, was caught in the middle. She eventually left but signed a non-compete agreement, forbidding her from joining other exchanges for two years.

At that time, she had only 100,000 RMB in cash and some crypto assets. Despite many peers offering high salaries or even paying her breach penalties, she refused: “Integrity matters. If I signed an agreement, I must honor it.” Her professionalism earned industry respect.

Binance’s Rise: Business Decisions in Crisis (2017-2018)

June 2017, after leaving her previous position for some time, He Yi received an invitation from CZ. CZ planned to launch a new platform, and after reviewing the white paper, asked: “Would you like to join?”

He Yi carefully studied the plan. She posed sharp questions—funding, team size, regulatory risks, differentiation from existing platforms. Satisfied with the answers, she made a decisive decision: “I’ll join, but I want to bring my team.”

In July 2017, the new exchange launched, issuing the BNB token.

Reality struck quickly: BNB’s initial price was $1, but within two months, it dropped to $0.5. The community was skeptical: “What’s this trash coin? Is the company going to collapse?”

As a startup facing fierce competition from established players like Huobi, many advised her to reconsider. But she made a shocking decision: buy all her remaining 900,000 RMB worth of BNB.

“If I don’t believe in this project myself, how can I ask users to believe?”

On September 4, 2017, regulatory policies suddenly changed—China banned ICOs and token fundraising. The entire crypto market plunged into chaos, with exchanges contemplating shutdowns.

He Yi saw an opportunity. She convened a team overnight, proposing a bold strategy: “Domestic exchanges will shut down; users need a new trading platform. We’re registered overseas, so we can serve these users.”

She quickly implemented key measures:

First, “Integrity Refund.” Industry practice was to refund at issuance price, but He Yi decided to refund at market price—even if BNB had risen above $10, the company absorbed the loss. This decision cost millions in the short term but gained industry trust.

Second, she posted tutorials on social media about technical tools, helping users continue using the platform—this “thoughtful service” touched many.

Third, she launched global marketing—bilingual videos, targeted at overseas Chinese communities—creating a strong response.

This strategy paid off. Within three months after regulatory events, new users and trading volume surged. By December 2017, it became the world’s largest trading platform.

BNB’s performance was remarkable: from $0.5 to $20, a 40-fold increase in six months. He Yi’s initial investment of 900,000 RMB turned into 36 million. As the platform ecosystem matured, BNB soared to over $600, a more than 1,200-fold increase from her purchase price.

In March 2018, the platform faced a major security incident. Hackers used phishing to control some user accounts. News spread panic, and BNB’s price plummeted.

He Yi worked tirelessly for 72 hours—coordinating technical teams, communicating with users on social media. She personally guaranteed the safety of user funds and announced full compensation from reserves. Her crisis management again earned trust.

From Behind-the-Scenes Power to Frontline Leadership (2018-2023)

As the platform expanded globally, He Yi realized her English skills were a bottleneck. Also, as an Asian woman, her representation in international business was weaker than CZ’s.

She made a key decision: step back from the public eye, letting CZ be the face of the platform. But “stepping back” didn’t mean losing influence.

He Yi retained control over core operations: user management, community, crisis PR. She called herself “Chief Customer Officer,” always online responding to user issues.

One famous case involved a university student who mistakenly transferred assets to the wrong wallet. Legally irrecoverable, but He Yi personally followed up and helped recover the funds. “This money might be small to you, but it’s everything to me,” she told the user, reinforcing her “user-first” philosophy.

She also launched the “Angel Program,” recruiting volunteers worldwide to promote the platform and assist users. Over 100 countries participated. Though it later faced regulatory scrutiny, it contributed significantly to global expansion.

Under her leadership, Binance kept launching new services and products. Her market insight kept the platform ahead of competitors. For example, after a celebrity endorsement deal, she questioned the platform’s user growth assumptions, leading to adjustments in management—this results-oriented style became known internally as “He Yi management.”

Turning the Tide in the Darkest Moments (2023-2024)

November 2023, regulators imposed a heavy penalty: a $4.3 billion fine, the CEO was ordered to serve four months in prison and resign. The news triggered panic.

BNB’s price fell from $313 to $213, over 30% drop. In 24 hours, over $3 billion in funds fled. Employees wondered: “Can the company survive? Should we look for new jobs?”

He Yi stepped up. Despite caring for three young children and dealing with media and regulators, she first sent an internal email expressing confidence in the company’s resilience and promised no layoffs.

In the following weeks, she held one-on-one talks with management, explained financials publicly, and cooperated with investigations.

Market expected her to take over as CEO, but she appointed a professional manager with experience in Singapore’s financial regulation. This signaled the platform’s commitment to compliance.

But insiders knew: He Yi was the real decision-maker. The new CEO handled external affairs and compliance, while she controlled internal operations and strategy.

This approach worked. After months of turbulence, the platform stabilized and even grew: user base from 250 million to 280 million, trading volume maintained around 39%, BNB recovered its value. At this moment, He Yi proved she was not a subordinate but a true business leader.

Ascending to the Power Pinnacle (2024-2025)

Mid-2025, the company announced a major decision: appoint He Yi as Co-CEO alongside the existing CEO.

This appointment officially confirmed her leadership position. From behind-the-scenes strategist to front-stage leader, she completed the transition of power.

In an interview, He Yi outlined the platform’s next goal: reach 1 billion users.

This goal seemed ambitious, but her logic was clear: “Cryptocurrency is evolving from a niche investment to a mainstream financial tool, and this process is irreversible. Looking at user growth curves of ChatGPT and TikTok, 1 billion users is achievable.”

Despite her wealth exceeding $10 billion, He Yi lives modestly. She doesn’t flaunt mansions or luxury goods; her social media posts focus on work. “Funds are just tools for me; what matters is creating greater value.”

She divides her time among three priorities: family, company management, and learning English. Yes, this female crypto leader still studies English daily—to better lead a global organization.

Her future platform vision includes: providing developer tools and infrastructure, making crypto assets as easy to use as traditional currencies, supporting digital art and virtual world trading, and promoting blockchain education.

“Our goal is to become the Alipay of Web3, enabling everyone to enjoy decentralized finance,” she says.

The Deep Logic of the Legend

He Yi’s story offers several profound business insights:

Origin doesn’t determine future; choices do. He Yi came from humble beginnings, but every critical decision she made was precise: dropping out to enter business, studying psychology to enhance understanding, entering crypto, turning crises into opportunities. These choices explain her surpassing peers.

Understanding human nature is the foundation of business. Whether selling drinks or managing a global platform, her core ability is understanding people. She knows what customers, users, and employees truly need, fear, and care about. This insight is especially valuable in crypto.

Crisis often contains opportunity. Regulatory changes should have destroyed emerging platforms, but she saw opportunities. Hacks and penalties should have led to decline, but she turned them into trust-building moments.

Sincerity and commitment outweigh flashy promises. Her decisions during crises—refunding at market price, personally engaging with users, full compensation—though costly short-term, earned trust that can’t be measured in money.

Women’s leadership has unique value. In a male-dominated crypto industry, He Yi’s meticulous user care and crisis response proved women’s leadership advantages. She succeeded not by copying male styles but by leveraging her own strengths.

He Yi’s Future and Significance

Late at night, in her office, He Yi looks out at city lights. Her phone constantly receives messages from users worldwide. One from a student: “Thank you, sister He Yi, for helping me recover my mistaken transfer. It means a lot. I will support this platform forever.”

This simple gratitude embodies her persistence.

From a girl whose family was impoverished after her father’s death, to a leader controlling global financial infrastructure; from studying under a kerosene lamp to making decisions on the world stage—He Yi’s life proves a simple truth: the power of choice, learning, and sincerity are the keys to changing destiny.

She summarizes her philosophy with a poem: “If you’ve said something good, don’t say it hurts.” No matter how tough, once you choose a path, you must stick to the end.

In the ebb and flow of crypto’s highs and lows, He Yi always puts user interests first and prioritizes long-term platform development over short-term gains. This business philosophy remains rare in any era.

He Yi’s story is still being written. No matter how the future unfolds, she has already shown the world: true success doesn’t come from luck or opportunity, but from preparation, choice, and persistence.

And that is a lesson every dreamer should learn.