CoinDCX CEO and co-founder Sumit Gupta publicly denied on Tuesday that the Indian cryptocurrency exchange is in early stages of discussing the sale to Coinbase.
On his X platform, via a tweet, Gupta wrote, “Just woke up and saw this news! Ignore the rumours! CoinDCX is ‘super focused’ on building for India’s crypto story and not up for sale!”
He was reacting to a report filed by Indian financial news website Livemint, reporting that Coinbase is preparing to acquire CoinDCX at a discount valuation of under $900 million.
Gupta went on to say more details would be disclosed later, but emphasized closing down rumors.
Another Co-Founder, Neeraj Khandelwal, also denied the rumours of its acquisition and stated, “CoinDCX is focused on building for the community.”
Livemint Report Suggests Sophisticated Talks at High Valuation Cut
Irrespective of Gupta’s denial, the Livemint report quoting two sources aware of the matter states Coinbase is indeed in the advanced stage of negotiating a buyout of CoinDCX.
If true, the sale would be a massive valuation drop from CoinDCX’s 2021 peak of $2.2 billion to below $900 million, a more than 59% drop.
The report states that Coinbase views the potential takeover as a long-term strategic investment to establish itself in a favorable position in India’s evolving cryptocurrency landscape.
Also Read: CoinDCX Announces $6M Crypto Investor Protection Fund
Recent Coinbase Deals Herald Aggressive Expansion Plan
CoinDCX rumor comes in the wake of Coinbase’s recent series of high-profile acquisitions in 2025.
On January 15, 2025, the company spent $2.9 billion acquiring crypto derivatives exchange Deribit, one of the largest deals in the crypto space.
Coinbase has also bought token management platform Liquifi, ad tech firm Spindl, which is crypto-based, and Iron Fish’s group, a privacy-focused blockchain.
These steps suggest a clear plan: extending Coinbase’s features well beyond simple trading, even potentially turning it into an end-to-end infrastructure player in the crypto space.
Also Read: CoinDCX Founder Sumit Gupta Commends India’s AI Push And Hopes For Crypto Support Soon
Market Volatility Continues as CoinDCX Seeks to Reestablish Stability
CoinDCX’s robust denial of the acquisition rumors may be an attempt to reestablish investor and user confidence after its July 19 hack.
The $44 million security breach has already soiled the reputation and market position of the exchange.
With a sale rumor so soon, internal problems and market forces are expected to be behind it.
Whether the acquisition talks are real or merely rumors, Gupta’s emphasis on moving forward and shaping India’s crypto narrative demonstrates the company’s effort to remain relevant independently.
All eyes are now on how both companies move in the weeks ahead.