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Coinbase Abandoning $2 Billion Deal For Stablecoin Company BVNK
Coinbase Global has scrapped plans to acquire BVNK, a London-based stablecoin infrastructure startup, ending what would have been a roughly $2 billion deal — and one of the largest stablecoin-focused acquisitions to date, according to Yahoo Finance. “We’re continuously seeking opportunities to expand on our mission and product offerings,” a Coinbase spokesperson said. “After discussing a potential acquisition of BVNK, both parties mutually agreed to not move forward.” Yahoo writes that talks had reached late stages, with the firms entering exclusivity in October that prevented BVNK from seeking other ... (full story)
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