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Coinbase Ends M&A Talks With Brazilian Crypto Firm 2TM

  • The deal would have furthered Coinbase’s presence abroad
  • Coinbase remains committed to Brazilian market: spokesperson

Coinbase Global Inc. and 2TM Participacoes SA scrapped talks over a possible purchase by the exchange of the Brazilian cryptocurrency brokerage, people familiar with the matter said.

The negotiations, which 2TM had hired JPMorgan Chase & Co. to advise in, could have resulted in a controlling acquisition or a minority stake sale. 2TM declined to comment on the deal.