Coinbase has decided to cancel its acquisition plan for the stablecoin startup BVNK, which was valued at $2 billion. The decision comes amid ongoing challenges in the cryptocurrency market and the regulatory landscape. BVNK had aimed to offer a range of blockchain-based financial services, including digital asset management. The cancellation reflects Coinbase’s strategy to prioritize its existing operations and focus on core business areas rather than pursue new acquisitions.
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