After what started off as a disappointing week, Coinbase stock (ticker: COIN) appears to be back on the recovery path. The coin briefly touched the $350 level on Friday, October 31, rising on the back of a positive earnings report and new developments from this week.
According to a new report, Coinbase has also entered late-stage talks to purchase the BVNK stablecoin infrastructure in a deal valued at $2 billion. The move represents a play on the larger stablecoin industry backed by the largest cryptocurrency exchange in the United States.
The exchange closes a $2 billion BVNK deal
Friday, Bloomberg I mentioned Coinbase is looking to complete a $2 billion acquisition of London-based BVNK, pending due diligence. The San Francisco-based cryptocurrency company expects to close this deal before the end of the year or early next year, according to one of the sources familiar with the matter.
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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 although the deal is already at a late stage of talks, the terms could change, and the deal is still at risk of collapsing.
A Coinbase spokesperson told Bloomberg in a statement:
We do not comment on rumors or speculation. Driven by our mission to expand economic freedom globally, we actively explore various opportunities – whether through construction, acquisition, partnership or investment – to advance our mission.
The recent Bloomberg report adds somewhat credence to Fortune’s report – released earlier this week – which revealed that Coinbase has exclusivity with BVNK for takeover talks after winning the bidding war. Mastercard was also reportedly involved in talks with stablecoin infrastructure before setting its sights on Zerohash, another cryptocurrency startup, for more than $1.5 billion.
Hence, this purchase of BVNK by Coinbase, if completed, would represent the latest in a growing list of stablecoin-related deals in recent months. These developments come against the backdrop of the introduction of the first cryptocurrency regulation (GENIUS Stablecoin Act) in the United States.
Coinbase reports strong profits in Q3 2025
While Coinbase’s third-quarter earnings calls were headed for an unusual reason, after CEO Brian Armstrong dropped a list of cryptocurrency buzzwords related to the signals market, the cryptocurrency company posted strong earnings last quarter.
The US-based cryptocurrency company reported revenues of approximately $1.9 billion and a final tally of approximately $432.6 million in the third quarter of 2025, representing a 55% increase year over year. Meanwhile, the company’s Bitcoin holdings also jumped by 2,772 BTC to 14,458.
As of this writing, Coinbase (COIN) stock is worth around $343.78, reflecting a 4.6% jump over the past 24 hours.
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Featured image from Shutterstock, chart from TradingView
The post Coinbase Stock Touches $350 After Positive Q3 Earnings, New Acquisition — Details first appeared on Investorempires.com.
