Coinbase Says $2 Billion Deal for BVNK Won’t Move Forward

Coinbase Global Inc., the biggest US crypto exchange, said it won’t move forward with plans to acquire stablecoin infrastructure startup BVNK in what was a roughly $2 billion transaction.

“After discussing a potential acquisition of BVNK, both parties mutually agreed to not move forward,” a Coinbase spokesperson said. BVNK didn’t immediately return a request for comment.