Coinbase Abandons $2 Billion Acquisition of Stablecoin Firm BVNK

Coinbase has terminated its negotiations to acquire UK-based stablecoin firm BVNK, following advanced discussions estimated at a $2 billion valuation. The decision to halt the acquisition was mutual, as confirmed by a Coinbase spokesperson. Both Coinbase and Mastercard had initially shown significant interest in acquiring BVNK, which specializes in building stablecoin infrastructure. The spokesperson stated that Coinbase remains committed to exploring opportunities that align with its mission and product offerings. Despite this setback, further details regarding the decision have yet to be disclosed, and the situation remains fluid as Coinbase continues to adapt its strategic approach in the cryptocurrency market.

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