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Coinbase Abandons BVNK Acquisition; MegaETH Revokes Token Sale Allotment

Published on November 11, 2025

Categories: Exchanges Business Token Sales

Major crypto exchange Coinbase has reportedly scrapped its plans to acquire stablecoin firm BVNK in a deal estimated at $2 billion. In other news, the MegaETH project revoked a $1 million token sale allotment after an influencer publicly shared trading strategies for the tokens.

Coinbase Calls Off Stablecoin Firm Acquisition

American crypto giant Coinbase has reportedly abandoned its strategic acquisition of stablecoin firm BVNK, a deal that was previously valued at $2 billion. This development, first reported by Fortune, signifies a shift in Coinbase's expansion and stablecoin strategy amidst evolving market conditions and regulatory landscapes.

MegaETH Revokes Influencer's Token Allocation

The MegaETH project has faced controversy after revoking a significant $1 million token sale allotment from crypto influencer IcoBeast. The decision came after the influencer posted on social media about their plans to hedge their newly acquired MEGA tokens, raising questions about influencer transparency and the conduct of token sales in the decentralized finance space.

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A visual representation of corporate decision-making, with a 'canceled' stamp over a merger document, juxtaposed with a digital ledger showing a revoked crypto token allocation, possibly with social media icons in the background. Stylized, modern, and conveys both business and crypto controversy.