CoinDCX has denied rumors that Coinbase is in “advanced discussions” to acquire the exchange, reiterating it is “super focused” on building India’s crypto story.
Update (July 29 at 4:21 am UTC): This article has been updated to reflect a public denial from CoinDCX CEO Samit Gupta over the report.
Sumit Gupta, CEO of Indian crypto exchange CoinDCX, has denied rumors that his company is in talks with Coinbase for a nearly $1 billion acquisition deal.
The rumors stemmed from a report from Indian news outlet Mint on Monday, stating that Coinbase was in “advanced discussions” to acquire CoinDCX, citing two unnamed sources familiar with the matter.
Gupta denied the report in a message on X on Tuesday.
”Ignore the rumours! CoinDCX is ‘super focused’ on building for India’s crypto story and not up for sale,” Gupta wrote. ”Will share more later but just wanted to clarify this upfront!”
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