Coinbase Abandons $2 Billion BVNK Acquisition, Shares Tumble

Coinbase has scrapped plans to amass stablecoin infrastructure agency BVNK in a deal estimated at $2 billion, ending talks that had reached the due diligence stage.

The US crypto alternate confirmed the choice in an announcement to Fortune, saying the events “mutually agreed to not transfer ahead.” It didn’t present additional particulars.

COIN shares tumbled greater than 4% in buying and selling yesterday, bringing its loss for the previous month to nearly 15%.

Coinbase share value (Supply: Google Finance)

Coinbase Eyed BVNK Amid Stablecoin Increase Triggered By GENIUS Act

Coinbase’s talks with BVNK got here amid a increase within the stablecoin market after US President Donald Trump signed the GENIUS Act into regulation in July. That gave long-awaited regulatory readability to the market, paving the way in which for establishments to make use of stablecoins as a strategy to improve legacy cost rails. 

The sector’s whole market capitalization has soared previous $305 billion, in keeping with DefiLlama, with Stripe, Western Union, Financial institution of America and Citibank amongst corporations transferring to capitalize on the sector’s potential. 

Stablecoin market cap (Supply: DefiLlama)

Stablecoins are already necessary for Coinbase. In its third-quarter earnings report, the alternate mentioned stablecoin providers generated $355 million in revenues, or  round 19% of its $1.8 billion income for the interval. 

Our Q3 2025 monetary outcomes at the moment are dwell. pic.twitter.com/FyukJgfDsj

— Coinbase 🛡️ (@coinbase) October 30, 2025

Coinbase On An Acquisition Spree

Coinbase has been on an acquisition spree this yr. Had it sealed the BVNK deal, it will have been its second-largest deal after the $2.9 billion acquisition of crypto derivatives alternate Deribit in August. 

Its key acquisitions this yr are as follows:

• BUX (Cyprus unit) – January

Gave Coinbase a Cyprus Funding Agency license, enabling it to supply contracts for variations (CFDs) and develop its regulatory footprint throughout the European Financial Space.

A San Francisco-based on-chain promoting and attribution platform based by a former Fb adverts lead, strengthening Coinbase’s information and advertising capabilities.

A $2.9 billion acquisition of the main crypto derivatives alternate, increasing Coinbase’s footprint in institutional and derivatives buying and selling.

A token distribution and administration startup, including infrastructure for tokenization and asset issuance.

A neighborhood and on-chain capital elevating platform that has helped elevate over $200 million throughout round 300 offers, acquired for roughly $375 million in money and fairness.

Crypto-Pleasant Regulatory Surroundings Prompts Different Offers

Different crypto corporations have additionally taken benefit of the extra crypto-friendly regulatory atmosphere within the US underneath the Trump administration. 

Amongst them is Ripple, the father or mother firm of XRP, which additionally introduced a number of acquisitions this yr. 

The corporate purchased prime-brokerage Hidden Street for round $1.25 billion, the stablecoin funds platform Rail for $200 million, company treasury administration agency GTreasury for $1 billion, and custody infrastructure agency Palisade for $1 billion.

MoonPay, the crypto funds infrastructure firm, additionally acquired Helio for round $175 million. 

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