CoinDCX Denies Reports of Acquisition Discussions with Coinbase

CoinDCX, India's largest crypto exchange, denied reports from Mint that Coinbase is seeking to acquire it. CEO Sumit Gupta urged stakeholders to "ignore the rumors" in a post on X.

Mint claimed Coinbase was in advanced talks for an acquisition, potentially valuing CoinDCX under $1 billion, down from $2.2 billion in 2021.
Coinbase reportedly holds equity in both CoinDCX and competitor CoinSwitch.
Gupta emphasized CoinDCX's commitment to India's crypto market, stating the exchange is not for sale.
Coinbase declined to comment on the rumors but mentioned it explores global opportunities for growth.
CoinDCX recently experienced a $44 million security breach, which was contained without compromising assets in cold wallets.