Binance, the cryptocurrency exchange, is currently facing investigations from financial watchdogs in the United States and other countries due to allegations of operating illegally and non-compliance with regulations. Yi He, a major financial stakeholder and co-founder of Binance, played a significant role in marketing the exchange during its early stages.

In recent interviews, Yi He defended Binance, stating that the company is not as negative as portrayed in the media. She acknowledged the importance of regulations in protecting investors and expressed respect for regulatory institutions, indicating a potential common ground between Binance and the authorities.

However, Binance is not the only platform facing such challenges. Several other prominent crypto exchanges are also being scrutinized for possible violations of securities regulations. This situation highlights the increasing difficulties faced by crypto exchanges in an evolving regulatory landscape.

Yi He's involvement in Binance goes beyond being a co-founder, as she also manages Binance Labs, the company's venture capital fund. Her influence has been crucial in driving the growth of the BNB Chain, which is currently under investigation by the U.S. Securities and Exchange Commission (SEC).

The ongoing investigation by the U.S. Justice Department and the disconnection of Binance's U.S. platform from the banking system have further compounded the exchange's challenges.

While Binance has expressed disappointment with the regulatory actions, Yi He acknowledged that global regulations for the crypto industry are inevitable. She defended the exchange's transparency record and confirmed cooperation with U.S. regulators. Nevertheless, the future of Binance and Yi He's role within the company remain uncertain, with growing speculation about a post-founder era.

Centralized crypto exchanges like Binance handle various aspects of transactions, potentially exposing investors to conflicts of interest and counterparty risks. Despite efforts to enhance compliance measures, Binance has experienced a decline in market share for derivatives and spot trading.

These developments raise concerns about the sustainability of Binance's business model as regulators, particularly in the Western countries, focus their attention on the exchange. Yi He, who played a significant role in Binance's initial success, maintains a close professional relationship with CEO Changpeng Zhao, which is well-known in the crypto community.

Addressing concerns about the concentration of power and conflicts of interest at Binance, Yi He compared her relationship with Zhao to that of Jeff Bezos and MacKenzie Scott at Amazon. However, she emphasized the distinct roles and responsibilities they hold.

Yi He claimed to have been a crypto pioneer before Zhao and mentioned introducing him to the crypto exchange industry. However, concerns persist regarding the centralization of power at Binance, especially considering Yi He's dual management of the investment and listing divisions of the company.

Furthermore, the secretive token listing team at Binance has attracted regulatory scrutiny. Yi He downplayed these conflict-of-interest concerns, asserting the independence of the investment and listing teams. However, as U.S. regulators focus on Binance and the broader crypto industry, adaptations and concessions may become necessary.

Yi He acknowledged that the unregulated era of the crypto industry has come to an end, emphasizing the need for adaptation. As the crypto industry navigates this new era of increased regulation, the future of Binance and Yi He's role in the company remain uncertain and clouded by uncertainty.