Coinbase said to end talks to buy Brazil crypto unicorn 2TM

Coinbase Global (NASDAQ:COIN) is said to end talks to acquire 2TM, owner of Mercado Bitcoin, Brazil's largest crypto exchange. The talks could have resulted in a controlling acquisition or a minority stake sale of 2TM, according to a Bloomberg report. The news comes after the Estadao newspaper in late March reported that Coinbase (COIN) was in talks to acquire 2TM. Talks between the companies have been going on since last year. Recall in January MercadoLibre (MELI) acquired shares in 2TM Group, parent firm of MercadoBitcoin.com, and made a strategic investment in Paxos, a blockchain infrastructure platform that powers the Mercado Pago cryptocurrency experience in Brazil. Last month, there was a report that Coinbase (COIN) was close to an acquisition of BtcTurk, Turkey’s largest cryptocurrency exchanges, for $3.2 billion.