Coindcx, the largest crypto exchange in India, rejected a local media report that US Coinbase Coinbase (Coin) sought to acquire it.
“Ignore rumors,” said CEO Sumit Gupta on Tuesday in an article on X.
Earlier in the day, Mint reported that Coinbase was in advanced talks to acquire the company based in Mumbai, citing two people knowing the issue. The potential acquisition could enhance Coindcx at less than $ 1 billion, a lowered drop in its valuation of $ 2.2 billion in 2021, he said.
Mint sources have added that Coinbase already has equity in Coindcx and Rival Coinswitch.
In his article, GUPTA underlined the strategy focused on the India of the exchange.
“Coindcx is” super concentrated “on the construction of the history of India cryptography and not on sale! I will share more later, but I just wanted to clarify this in advance!” Gupta noted.
Coinbase refused to comment.
“We are not starting rumors or speculation. We have a bold mission to increase economic freedom in the world and constantly explore opportunities around the world to build, buy, associate and invest in accelerating our roadmap,” he said.
Coindcx recently underwent a security violation of $ 44 million which targeted an operational portfolio. The feat was quickly contained, ensuring that cryptographic assets were intact and safe in cold wallets.
