CoinDCX, India's largest crypto change, dismissed a neighborhood media report that U.S. rival Coinbase (COIN) was seeking to purchase it.
“Ignore the rumours,” CEO Sumit Gupta stated Tuesday in a submit on X.
Earlier within the day Mint reported that Coinbase was in superior talks to accumulate the Mumbai-based firm, citing two individuals with data of the matter. The potential acquisition might worth CoinDCX at lower than $1 billion, a steep drop from its $2.2 billion valuation in 2021, it stated.
Mint's sources added that Coinbase already has fairness in each CoinDCX and rival CoinSwitch.
In his submit, Gupta emphasised the change's India-focused technique.
“CoinDCX is 'super focused' on building for India’s crypto story and not up for sale! Will share more later, but just wanted to clarify this upfront!” Gupta famous.
Coinbase declined to remark.
“We don’t comment on rumors or speculation. We have a bold mission to increase economic freedom in the world, and are constantly exploring opportunities around the world to build, buy, partner and invest to accelerate our roadmap,” it said.
CoinDCX recently suffered a $44 million safety breach that focused an operational pockets. The exploit was shortly contained, making certain the crypto belongings have been untouched and secure in chilly wallets.
