Coinbase to Acquire CoinDCX: Sumit Gupta’s “Super Focused” Statement

There’s a rumor playing in the crypto market related to Coinbase acquiring CoinDCX after the $44 million hack. Coinbase's futuristic thoughts on growing the company with the acquisition sparked many concerns as well as excitement among the investors. However, Sumit Gupta wipes out the rumours by being clear and concise in his words. What did he say, and what was the reaction? It's something you shouldn’t miss.

Sumit Gupta’s Statement on Coinbase Acquiring CoinDCX

Following the increasing rumors about the prospective acquisition of Indian exchange, its co-founder and CEO, Sumit Gupta, decided to clarify the situation on X (previously known as Twitter).

In a brief but effective tweet, he categorically rejected any negotiations of a sale, saying, Just woke up and saw this news! Beware of the rumours! CoinDCX is super focused on building the Indian crypto story and not on sale!

This statement was used in various ways. To begin with, it was supposed to assure investors and users that CoinDCX is stable, and it is confident in its future, despite the recent hack of 44 million dollars. Secondly, it was also intended to end the notion that the exchange is financially distressed or looking to get out.

The fact that Gupta made a public clarification at the right time and in a very strategic manner was to manage the narrative, maintain trust, and emphasize that the company is committed to the Indian market in the long run. His tweet was made just a few hours after media houses indicated that Coinbase is advanced in talks to acquire CoinDCX at approximately $900 million.

Source: X

Background: What Sparked the Rumours?

According to recent reports, Coinbase—one of the largest U.S.-based crypto exchanges—is exploring a possible deal to acquire CoinDCX. The potential valuation discussed is approximately $900 million, a steep drop from $2.2 billion valuation in 2021.

These rumours came shortly after CoinDCX faced a $44 million hack on July 19, 2025 . The hack is suspected to have links to the Lazarus Group, a North Korean hacking network known for targeting crypto firms. The USDC and USDT tokens were stolen in the hack. Although no user funds were lost, the incident cast a serious doubt on the security of Indian crypto exchanges.

For relaxation, CoinDCX offered a bounty of up to $11 million to retrieve the stolen money, compensated the loss with its own treasury, and did not affect its users, and also acted to strengthen risk management internally.

Why Coinbase Might Be Interested

Despite the hack, the U.S. company’s long-term bet on India’s growing crypto market. Coinbase has not officially commented, but insiders say the company sees value in user base and Indian market reach.

However, the timing of the negotiations, immediately following the hack, has brought speculation as to whether this is a calculated move to buy the exchange at a reduced price.

Besides the hype, Coinbase revealed that it has added Bio Protocol (BIO) and Euler (EUL) to its listing. This shows the company’s strong focus on expanding its DeFi and token offerings, making it a serious player in the decentralized finance ecosystem.

Conclusion

While talks between Coinbase and CoinDCX are still unconfirmed from the U.S. side, Sumit Gupta’s latest post makes the company's stance clear: We are here to build, not exit. The Indian market remains full of potential, but it also demands stronger security, transparency, and trust. Whether or not the deal happens, the conversation has once again spotlighted India as a key crypto destination.