Coinbase Drops Plan to Buy BVNK in $2B Deal

Coinbase has abandoned its plan to acquire BVNK, a London-based startup specializing in stablecoin infrastructure, in a deal valued at approximately $2 billion. This acquisition was anticipated to be one of Coinbase's most significant to date, with a projected closing date between late 2025 and early 2026. The decision to withdraw from the deal highlights the challenges and uncertainties within the cryptocurrency market, particularly regarding large-scale acquisitions.