**[Coinbase and Stablecoin Startup BVNK Cancel $2 Billion Acquisition Deal]** According to Fortune magazine, a spokesperson for cryptocurrency exchange Coinbase has confirmed that Coinbase and UK-based stablecoin startup BVNK have canceled acquisition negotiations. It remains unclear why the two companies decided to shelve the deal, which had already progressed to the due diligence stage. In October, Coinbase and BVNK had signed an exclusivity agreement, meaning BVNK could not accept offers from other bidders. In a statement, the Coinbase spokesperson said: "We are constantly seeking opportunities to expand our mission and product offerings. After discussing the possibility of acquiring BVNK, both parties mutually agreed not to proceed with the matter." BVNK helps clients use stablecoins for payments, cross-border transactions, and other application scenarios, with an acquisition price estimated at $2 billion. If the deal had been finalized, the amount would have been nearly double the $1.1 billion fintech giant Stripe paid in February this year to acquire stablecoin startup Bridge.