Coinbase Walks Away From $2 Billion BVNK Deal as UK Weighs Strict Stablecoin Caps
Exclusive talks end without a deal, Fortune reports, while the Bank of England’s proposed holding limits draw industry fire and cloud the outlook for sterling stablecoins. Decrypt+1 Published: November 12, 2025 Key Points What Happened Coinbase has scrapped plans to acquire London-based stablecoin infrastructure firm BVNK after entering exclusive talks in October. The deal, pegged at about $2 billion, would have marked one of the sector’s larger transactions this year. A Coinbase spokesperson confirmed the breakup was mutual but did not provide a reason. Decrypt Fortune first reported the talks had collapsed; Coinbase had been seen as the front-runner after