Overview

• Local media reported Coinbase is in advanced talks to acquire CoinDCX at a valuation below $1 billion.
• CEO Sumit Gupta dismissed the rumors in an X post, stating that CoinDCX is "not up for sale" and remains focused on India's market.
• Coinbase declined to comment on the reports, saying it doesn't address speculation and highlighting its strategy to build, buy and invest globally.
• CoinDCX this month absorbed a $44 million hack loss from an internal liquidity wallet using its treasury, ensuring customer assets were unaffected.
• After securing an FIU license in March, Coinbase has pursued acquisitions including Deribit, Liquifi, Spindl and Iron Fish to bolster its international footprint.