Binance co-founder Yi He to lead Binance Labs

Binance co-founder Yi He will serve as the new head of its venture capital arm Binance Labs, replacing Bill Chin, who left earlier this year.

Binance Labs manages $7.5 billion in total assets across more than 200 portfolio projects, according to a press release.

Yi, who joined Binance just before its launch in 2017, will oversee global strategy and day-to-day operations of Binance Labs with a particular focus on supporting infrastructure projects and improving utility in crypto and blockchain projects.

She will continue leading and supporting the organization's key business initiatives and units including customer support, institutional business, marketing, Binance P2P and Earn.