<p>The ACA Group, which has bases in Singapore and Japan, has decided to give up on the planned acquisition of BitFlyer Holdings, which owns a crypto exchange in Japan, Nikkei <a href="https://www.nikkei.com/article/DGXZQOUB305WU0Q2A930C2000000/">reported today</a> in its Japanese language edition.</p> <p>ACA <a href="https://asia.nikkei.com/Spotlight/Cryptocurrencies/Japan-crypto-exchange-bitFlyer-to-be-sold-to-Asian-investment-fund">had agreed</a> in April with a coalition of BitFlyer Holdings shareholders to buy a majority stake, estimated at the time to have a value of as much as 45 billion yen ($370 million).</p> <p>The decision comes as a number of planned M&amp;As have failed, including <span data-v-7775cd20="">Galaxy Digital <a href="https://www.theblock.co/post/163540/galaxy-digital-terminates-its-acquisition-of-bitgo">terminating the acquisition</a> of crypto custodian BitGo, and Thailand's SCB X <a href="https://asia.nikkei.com/Spotlight/Cryptocurrencies/SCB-calls-off-plan-to-acquire-Thai-crypto-exchange-Bitkub">calling off</a> its deal to acquire crypto exchange Bitkub Online, both in August. </span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>