Today, in the cryptocurrency space, Coinbase is nearing an agreement to acquire stablecoin startup BVNK. Romanian gambling regulators have blacklisted prediction market Polymarket, and crypto market sentiment remains uncertain despite renewed clarity on US-China trade relations.
Coinbase considers $2 billion acquisition of BVNK startup in stablecoin push: report
Coinbase Global, the world’s third-largest cryptocurrency exchange, continues to promote stablecoins after key US legislation sparked a new wave of corporate interest in blockchain-based payments.
Coinbase exchange is reportedly in late-stage negotiations to acquire stablecoin infrastructure startup BVNK in a $2 billion deal, Bloomberg reports, citing people familiar with the matter.
The $2 billion acquisition is expected to close later this year or early 2026, pending due diligence from the exchange, anonymous sources said.
The stablecoin push could provide an additional revenue stream for Coinbase, which primarily relies on crypto transaction fees to generate profits.
However, 20% of Coinbase’s revenue, or about $246 million, came from stablecoins in the third quarter of 2025, according to the exchange’s financial results released Thursday.
Founded in 2021, London-based BVNK offers enterprise-grade stablecoin payments to merchants. Coinbase Ventures, the venture capital arm of Coinbase, is an investor in stablecoin infrastructure startups.
According to the company’s homepage, BVNK has raised $90 million in funding over the past four years from investors including Citi Ventures, Visa, and Haun Ventures.
Romania blacklists Polymarket for illegal cryptocurrency gambling amid $600 million election bet
The Romanian National Gaming Authority (ONJN) has blacklisted leading prediction market Polymarket as an unlicensed gambling platform operating outside state supervision.
The decision comes after the regulator described a surge in crypto-based gambling during Romania’s presidential and local elections, when Polymarket’s trading volume reportedly exceeded $600 million, according to a recent statement from the regulator.
ONJN added that the platform’s activities amount to “counterpart betting”. This means users bet money against each other on the outcome of future events, regardless of the blockchain-based format, adding that this is a model that falls squarely under gambling law.
ONJN President Vlad Christian Soare emphasized that the move is “not about technology, but about law.” He said that whether bets are made in lei or virtual currency, they qualify as gambling and require a license.
Crypto market sentiment remains ‘fearful’ after President Trump’s deal with China
Despite more clarity on U.S.-China trade relations after US President Donald Trump announced a trade deal this week, the widely used cryptocurrency market sentiment indicator remains in uncertain territory.
However, some crypto analysts have suggested that this announcement could have a positive impact on the crypto market in the near term.
The Crypto Fear & Greed Index, which measures sentiment across the crypto market, recorded a “Fear” score of 37 on Sunday, up four points from Saturday’s “Fear” score of 33. The slight uptick came after the White House released a comprehensive statement outlining the trade deal reached between President Trump and Chinese President Xi Jinping.
“This is a major victory that protects America’s economic strength and national security while putting American workers, farmers, and families first,” the White House said in a statement Saturday.