Overview

• Negotiations are ongoing and not finalized, with CoinDCX’s valuation set below $1 billion compared to a $2.2 billion peak during the last bull market.
• CoinDCX covered the full $44 million loss from its internal liquidity wallet hack using treasury reserves and kept customer assets untouched.
• The exchange halted its web3 services, processed more than 31,000 withdrawal requests in a single day and launched a bounty program offering up to 25% of any recovered funds.
• Coinbase secured a Financial Intelligence Unit license in March to re-enter India’s cryptocurrency market ahead of formal regulatory guidelines.
• The potential deal follows Coinbase’s aggressive M&A drive this year, including its $2.9 billion Deribit purchase and acquisitions of Liquifi, Spindl and Iron Fish.