{"id":468977,"date":"2025-07-29T11:36:07","date_gmt":"2025-07-29T11:36:07","guid":{"rendered":"https:\/\/www.supercryptonews.com\/?p=52578"},"modified":"2025-07-29T11:36:07","modified_gmt":"2025-07-29T11:36:07","slug":"coindcx-ceo-denies-coinbase-acquisition-rumors-amid-expansion-and-recovery-efforts","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2025\/07\/29\/coindcx-ceo-denies-coinbase-acquisition-rumors-amid-expansion-and-recovery-efforts\/","title":{"rendered":"CoinDCX CEO Denies Coinbase Acquisition Rumors Amid Expansion and Recovery Efforts"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/e-bitco.in\/wp-content\/uploads\/2025\/07\/coindcx-ceo-denies-coinbase-acquisition-rumors-amid-expansion-and-recovery-efforts.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p><span class=\"selected\">Sumit Gupta, CEO of Indian cryptocurrency exchange CoinDCX, has publicly refuted recent reports suggesting that his company is in advanced acquisition talks with U.S. crypto giant Coinbase for nearly $1 billion. The denial comes shortly after an Indian news outlet published the acquisition rumors and weeks after CoinDCX experienced a significant security breach.<\/span><\/p>\n<p><span class=\"selected\">On Monday, Indian news outlet Mint reported that Coinbase was in \u201cadvanced discussions\u201d to acquire CoinDCX, citing two anonymous sources. However, Gupta swiftly addressed the speculation in an X (formerly Twitter) <a href=\"https:\/\/x.com\/smtgpt\/status\/1950028878946156605\">post<\/a> on Tuesday, stating, \u201cIgnore the rumours! CoinDCX is \u2018super focused\u2019 on building for India\u2019s crypto story and not up for sale. Will share more later but just wanted to clarify this upfront!\u201d<\/span><\/p>\n<p><span class=\"selected\">The acquisition rumors surfaced approximately eleven days after CoinDCX disclosed a $44.2 million hack on July 18. Attackers reportedly breached an operational wallet within minutes by compromising an internal account used for \u201cliquidity provisions\u201d with another exchange through a server breach. Despite the significant sum, CoinDCX CEO Sumit Gupta confirmed that no user funds were affected, attributing this to the exchange\u2019s robust security protocols. In response to the incident, CoinDCX announced a new recovery bounty program last week, offering white hat hackers up to 25% of any recovered funds they help trace and retrieve.<\/span><\/p>\n<p><span class=\"selected\">Meanwhile, Coinbase has been actively expanding its global footprint and engaging in a series of acquisitions. The company registered with India\u2019s Financial Intelligence Unit (FIU) in March, signaling a potential intent to deepen its presence in the world\u2019s most populous country. In May, Coinbase finalized a $2.9 billion cash-and-stock acquisition of Deribit, aiming to solidify its position in the crypto derivatives market. Earlier this month, it also acquired Liquifi, a token-management platform designed for early-stage on-chain builders.<\/span><\/p>\n<p> <a href=\"https:\/\/www.supercryptonews.com\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sumit Gupta, CEO of Indian cryptocurrency exchange CoinDCX, has publicly refuted recent reports suggesting that his company is in advanced acquisition talks with U.S. crypto giant Coinbase for nearly $1 billion. The denial comes shortly after an Indian news outlet published the acquisition rumors and weeks after CoinDCX experienced a significant security breach. On Monday, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[195,111,25,907],"class_list":{"0":"post-468977","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-other","7":"tag-coinbase","8":"tag-cryptocurrency-exchange","9":"tag-news","10":"tag-perspectives"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/468977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=468977"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/468977\/revisions"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=468977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=468977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=468977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}