Today in crypto, Coinbase is nearing a deal to acquire stablecoin startup BVNK. Romania’s gambling regulator has blacklisted prediction market Polymarket, and crypto market sentiment remains in a state of fear despite renewed clarity on US-China trade relations.
Coinbase mulls $2B BVNK startup acquisition in stablecoin push: Report
Coinbase Global Inc., the world’s third-largest cryptocurrency exchange, is continuing its stablecoin push after key legislation in the United States sparked a renewed wave of corporate interest in blockchain-based payments.
Coinbase exchange is reportedly in late-stage talks to acquire stablecoin infrastructure startup BVNK in a $2 billion deal, according to a report by Bloomberg, citing people familiar with the matter.
The $2 billion acquisition is expected to close later this year or in early 2026, pending due diligence from the exchange, according to the anonymous source.
The stablecoin push could bring an additional source of revenue for Coinbase, which primarily relies on cryptocurrency trading fees to generate profits.
However, about $246 million, or 20% of Coinbase’s revenue, came from stablecoins during the third quarter of 2025, according to the exchange’s earnings results, published on Thursday.
Founded in 2021, London-based BVNK offers merchants enterprise-grade stablecoin payments. Coinbase’s venture capital wing, Coinbase Ventures, is an investor in the stablecoin infrastructure startup.
BVNK raised $90 million in funding over the past four years, from investors including Citi Ventures, Visa and Haun Ventures, according to the startup’s homepage.
Romania blacklists Polymarket for illegal crypto betting amid $600M election wagers
Romania’s National Office for Gambling (ONJN) has blacklisted leading prediction market Polymarket, calling it an unlicensed gambling platform operating outside state oversight.
The decision follows what regulators described as a surge in crypto-based betting during Romania’s presidential and local elections, where Polymarket’s trading volume reportedly exceeded $600 million, according to a recent statement from the regulator.
ONJN added that the platform’s activity constitutes “counterpart betting,” meaning users wager money against one another on the outcomes of future events, a model that falls squarely under gambling laws, regardless of its blockchain-based format.
ONJN President Vlad-Cristian Soare stressed that the move “is not about technology, but about the law.” He said that whether bets are made in lei or crypto, they still qualify as gambling and must be licensed.
Polymarket users bet on NYC Mayoral Election. Source: Polymarket
Crypto market sentiment stays in ‘Fear’ following Trump’s deal with China
A widely used crypto market sentiment indicator has remained in uncertain territory despite improved clarity on trade relations between US and China, following US President Donald Trump’s announcement of a trade deal this week.
However, some crypto analysts suggest the announcement could soon have a positive impact on the crypto market.
The Crypto Fear & Greed Index, which measures overall crypto market sentiment, posted a “Fear” score of 37 on Sunday, up 4 points from its “Fear” score of 33 on Saturday. The slight uptick comes as the White House released a comprehensive statement outlining the trade agreement reached between Trump and Chinese President Xi Jinping.
“A massive victory that safeguards US economic strength and national security while putting American workers, farmers, and families first,” The White House said in a statement on Saturday.
