Coinbase and stablecoin startup BVNK cancel $2 billion acquisition deal

A spokesperson for cryptocurrency exchange Coinbase confirmed that Coinbase and UK-based stablecoin startup BVNK have cancelled acquisition talks. It is unclear why the two companies shelved the deal, which had progressed to the due diligence stage, and in October, Coinbase and BVNK reached an exclusivity agreement, meaning BVNK could not accept offers from other bidders.