Cryptocurrency News

Coinbase’s plans to purchase firm behind Mercado Bitcoin fall through: Report

05/05/2022

Less than a minute

2022.05.05 09:12

Coinbase's plans to purchase firm behind Mercado Bitcoin fall through: Report
Coinbase’s plans to purchase firm behind Mercado Bitcoin fall through: Report

Coinbase (NASDAQ:COIN) and Brazilian company 2TM, the parent company of Mercado Bitcoin, have reportedly scrapped talks around the crypto exchange purchasing the firm.

According to a Tuesday Bloomberg report, 2TM and Coinbase have ended discussions around the United States-based crypto exchange buying the Brazilian company, which was valued at more than $2 billion. It’s unclear what led to the purchase not going through, as 2TM reportedly declined to comment and a Coinbase spokesperson said it was simply “committed to the Brazilian market.”

05/05/2022

Less than a minute

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