Update: CoinDCX denies it’s in talks to be acquired by Coinbase
CoinDCX has denied a media report that it is in “advanced discussions” to be acquired by Coinbase for nearly $1 billion, 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.
The CEO of Indian crypto exchange CoinDCX has denied that his company is in talks to be acquired by Coinbase for nearly $1 billion.
Indian news outlet Mint on Monday reported that Coinbase was in “advanced discussions” to acquire CoinDCX, citing two unnamed sources familiar with the matter, but Sumit Gupta denied this in an X post 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!”
Prior to Gupta’s statement, a Coinbase spokesperson told Cointelegraph that it wouldn’t comment on “rumors or speculation.”