Coinbase (COIN) has called off takeover talks with U.K.-based stablecoin startup BVNK, a spokesperson for the crypto exchange told Fortune’s Ben Weiss. It is not yet clear why Coinbase killed the $2B deal, which had made it as far as the due diligence process, Weiss says. “We’re continuously seeking opportunities to expand on our mission and product offerings,” said the Coinbase spokesperson. “After discussing a potential acquisition of BVNK, both parties mutually agreed to not move forward.” Shares of Circle Internet (CRCL), another stablecoin issuer, are down nearly 4% in afternoon trading.
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