“Coindcx not for sale”: CEO hacks off the coinbase shopping talks amidst speculation

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India’s largest Crypto Exchange, Coindcx, Major Crypto Exchange is at the center of rumors, but CEO Sumit Gupta has created one through Crystal Clears: The company is not for sale,

His public statement on the social platform X comes in view of speculation that the US-based coinbase is demanding the purchase of the Indian firm in $ 900 million, a faster markdown of $ 2.2 billion from CoinX’s 2021 peak values.

Sumit Gupta addresses rumors

After a harmful $ 44 million hack, the coinbase suggested that the coinbase was in “advanced talks” to get coinbase coindcx at a significant discount. However, Gupta did not waste any time to shut down the story.

“Ignore the rumors!

The firm Ributal followed the growing media coverage based on anonymous sources, which the coinbase saw hack as an entry point in India’s growing crypto market.

COIN's price trends to the upside on the daily chart. Source: COINUSD on Tradingview 

The coinbase remains silent, but India lives in focus

While Coindcx has clearly denied the deal, the coinbase has neither confirmed nor denied speculation. According to its general policy, a spokesman said the company does not comment on the rumors of the market.

However, the coinbase continues to protest in India. It is registered with the Financial Intelligence Unit (FIU) and has bets in both Coindcx and competitive Coinswitch.

Thought Coinbase first stopped the expansion of India due to the regulatory university, focusing on the region.

Safety violations and market effects

A violation of $ 44 million caused by unauthorized access to coindcx’s internal wallet inspires concerns about the company’s flexibility. Coindcx responded to Swift, confirming that no customer was affected by money and launched a $ 11 million reward program to detect hackers.

Despite the shock, the leadership of Coindcx is full of confidence. With more than 13 million users and a strong domestic presentation, the exclusive is determined to maintain its freedom, whether it is discussed by market forecasting or acquisition.

Covered from Chatgpt, chart from tradingview

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