Coinbase and the Brazilian company 2TM, the parent company of Mercadoin Bitcoin, would have deleted the talks with the EXCHANGE crypto buying the company.
According to a report by Tuesday Bloomberg, 2tm and Coinbase ended the discussions on the exchange of crypto in the United States buying the Brazilian company, which was valued at more than $ 2 billion. We do not know what led the purchase not to pass, because 2TM would have refused to comment and that a spokesman of Coinbase said that he was simply “attached to the Brazilian market”.
Coinbase and 2TM were abandoned on a possible purchase by the exchange of the Brazilian cryptocurrency brokerage https://t.co/hmzxdj7koi
– Bloomberg Crypto (@Cryptto) May 4, 2022
As a parent company of Mercadoin Mercadoin – one of the largest crypto brokerage companies in Latin America – 2TM cemented its unicorn status in July 2021 following a funding cycle of $ 200 million, pushing the company before an assessment of $ 2 billion. Cointelegraph reported in March that 2TM was evaluated at $ 2.2 billion in front of the declared plans of Coinbase to buy the company. In addition, 2TM acquired majority participation in Crypto Exchange, based in Lisbon, Criptoloja in January.
An institutional investor report Coinbase on Latin America from December 2021 suggested interest operations to widen operations in Brazil. In April, the Senate of Brazil approved a law to regulate cryptocurrencies in the country, which should be promulgated by President Jair Bolsonaro by the end of 2022. Rio de Janeiro, the second most populated city in Brazil, also announced in March, it will accept Bitcoin (BTC) Payments for taxes related to Urban Real Estate Within the limits of the city starting in 2023.
In relation: The Brazilian version of Cintelelegraph unveils the 10 best people in crypto and blockchain
One of the greatest exchanges of crypto in the United States, Coinbase would have made offers to buy other crypto and blockchain companies around the world. In January 2021, Coinbase announced the acquisition of the Blockchain Bison Trails infrastructure platform as well as the Routefire platform for improved commercial execution. In April, Cointelegraph announced that the scholarship planned to buy the large cryptography company based in Turkey BTCTURK for $ 3.2 billion.
Cointelegraph stretched out 2TM, but did not receive an answer at the time of publication.
