Bitcoin Bounces Back: Binance Names Co-CEO, European Banks Launch Stablecoin

American Bitcoin's stock price dropped nearly 40% after a share lock-up expiry, but recovered the next day. Binance appointed Yi He as co-CEO, joining Richard Teng in a dual leadership structure. A group of European banks, including ING and UniCredit, formed a company called Qivalis to launch a euro-pegged stablecoin next year. Bitcoin rose to a two-week high of nearly $94,000 after a 6% increase.