“Ignore the Rumors”: CoinDCX CEO Shuts Down Talk of a Post-Hack Sale to Coinbase
Main Idea
CoinDCX CEO Sumit Gupta denies rumors of a $900M acquisition by Coinbase following a $44M security breach, asserting the company's focus on India's crypto market.
Key Points
1. Sumit Gupta, CEO of CoinDCX, publicly rejected rumors of a $900M acquisition by Coinbase, stating the company is not for sale.
2. The rumors emerged after CoinDCX suffered a $44 million security breach.
3. CoinDCX's peak valuation was $2.2 billion three years ago, making the rumored $900M acquisition a significant discount.
4. Coinbase has not commented on the acquisition rumors or its strategy in India.
5. Gupta emphasized CoinDCX's commitment to building India's crypto ecosystem despite the recent hack.
Description
CoinDCX CEO denies $900M Coinbase acquisition rumors after $44M security breach. Coinbase remains silent on alleged deal, maintains FIU registration and India stakes. CoinDCX affirms independence, says it remains focused on India’s crypto development. Sumit Gupta, the CEO of Indian cryptocurrency exchange CoinDCX, has publicly rejected claims that the platform is in talks to be acquired by the U.S.-based exchange Coinbase. The denial follows growing speculation that Coinbase was seeking to purch...
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