CEO Sumit Gupta refutes claims of Coinbase's acquisition talks, emphasizing CoinDCX's focus on India's crypto market despite recent security challenges.
CoinDCX, India's largest crypto exchange, has dismissed rumors of a potential acquisition by Coinbase, with CEO Sumit Gupta stating the company is not for sale. Reports suggested Coinbase was in advanced talks to acquire CoinDCX for under $1 billion, a significant drop from its previous valuation of $2.2 billion. Gupta reiterated the exchange's commitment to India's crypto sector, while Coinbase declined to comment on the speculation. CoinDCX recently faced a $44 million security breach but ensured that crypto assets remained secure.