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After what started as a disappointing week, the Coinbase stock (Ticker: COIN) seems to be back on a recovery path. COIN briefly climbed above the $360 level on Friday, October 31st, rallying on the positive earnings report and new developments from this week.
According to a new report, Coinbase has also entered into late-stage talks to purchase stablecoin infrastructure BVNK in an estimated $2 billion deal. This move represents a play in a much larger stablecoin industry push by the largest US-based cryptocurrency exchange.
Exchange Closes In On $2 Billion BVNK Deal
On Friday, Bloomberg reported that Coinbase is looking to complete a $2-billion acquisition of the London-based BVNK, pending due diligence. The San Francisco-based cryptocurrency company expects to close this deal before the year’s end or early next year, according to one of the sources close to the matter.
According to the report, the company’s venture capital arm, Coinbase Ventures, is an investor in BVNK. One of the cited sources also revealed that while the deal is already in late-stage talks, terms may change, and the deal is still at risk of collapsing.
A Coinbase spokesperson told Bloomberg in a statement:
We don’t comment on rumors or speculation. Driven by our mission to expand economic freedom globally, we actively explore various opportunities—whether through building, acquiring, partnering, or investing – to advance our mission.
This latest Bloomberg report somewhat adds credence to the Fortune report—from earlier this week—that disclosed that Coinbase holds exclusivity with BVNK for takeover talks after winning the bidding war. Mastercard was reportedly also engaged in talks with the stablecoin infrastructure before setting its sights on Zerohash, another crypto startup, for over $1.5 billion.
Hence, this BVNK purchase by Coinbase, if completed, would represent the latest one in a growing list of stablecoin-related deals in recent months. These developments come on the back of the introduction of the first crypto regulation (the GENIUS Stablecoin Act) in the United States.
Coinbase Posts Strong Earnings In Q3 2025
While Coinbase’s Q3 earnings call trended for an unusual reason, after CEO Brian Armstrong dropped a list of crypto buzzwords relevant to the Mentions Market, the crypto company delivered strong profits in the last quarter.
The US-based crypto company reported about $1.9 billion in revenue and a bottom line of approximately $432.6 million in 2025’s third quarter, representing a 55% year-over-year increase. Meanwhile, the firm’s Bitcoin holdings have also jumped by 2,772 BTC to 14,458.
As of this writing, the Coinbase stock (COIN) is valued at about $343.78, reflecting a 4.6% jump in the past 24 hours. While the company’s stock traded as high as $361 on Friday, it witnessed a correction before closing the day around the $340 mark.
