Earlier this year, there were rumors that the founding team was planning to sell Binance and retire. This time, the publicly announced organizational restructuring has pretty much put those rumors to rest. On paper, He Yi has stepped out from behind the scenes to become Co-CEO, and the founding team is still part of the management. Back when CZ was imprisoned, Richard stepped up during the company’s turbulent vacuum period and smoothly handed the reins back to He Yi upon her return. It reminds me of when the boss of a certain top-tier exchange went to jail, leaving the company leaderless and riddled with internal conflicts, which marked the beginning of its decline. Binance, on the other hand, has successfully weathered this storm. These two make a pretty good team—Richard focuses on implementing ToB and ToG business operations, while He Yi handles ToC material culture and the user community.