CoinDCX's CEO Sumit Gupta has dismissed rumors of a potential acquisition by Coinbase, emphasizing the company's commitment to India's crypto market. A report suggested that Coinbase might acquire CoinDCX for under $1 billion, reflecting a significant decrease from its 2021 valuation of $2.2 billion. CoinDCX recently dealt with a security breach but confirmed that assets remained safe.

Coinbase has announced its acquisition of Deribit, the largest trading platform for bitcoin and ether options, in a deal valued at approximately $2.9 billion. This strategic move enhances Coinbase's position in the cryptocurrency market as it seeks to expand its offerings and capabilities.