Coinbase is reportedly on the verge of acquiring CoinDCX, a move linked to its ambition to secure a stronger presence in India’s evolving cryptocurrency market.

This comes shortly after CoinDCX suffered a major security incident, where hackers targeted its operational wallet, resulting in a loss of approximately $44 million.

According to a local report published on July 29, 2025, the deal is expected to value CoinDCX at less than $900 million, significantly lower than its peak of $2.2 billion in 2021.

Industry insiders suggest that this acquisition reflects Coinbase’s broader strategy to gain an essential foothold in India’s cryptocurrency landscape.

Update: US crypto giant Coinbase is reportedly in advanced discussions to acquire Indian exchange CoinDCX at a valuation below USD 1 billion, a notable decrease from its valuation of $2.2 billion in 2021. Translation: The news of the acquisition follows a security breach that CoinDCX faced recently.

One insider noted, “This is a calculated bet at a discount—positioning for upside if India’s crypto market finds its stride.”

In response, CoinDCX CEO Sumit Gupta dismissed the rumors on social media, asserting, “We’re laser-focused on building India’s crypto future, not selling out. More details soon, but had to clear this up right away.”

As part of its acquisition spree, Coinbase aims to launch retail crypto trading in India, enhancing its global strategy. The company previously entered the Indian market in April 2022 but faced regulatory challenges that led to a halt in operations.

With renewed interest in this market, Coinbase is also reportedly considering consolidating its investments in both CoinDCX and CoinSwitch. Though insiders find this possibility plausible, no official confirmation has been released yet.

Key Takeaways

• Coinbase is in talks to acquire CoinDCX, boosting its Indian strategy.
• The valuation of CoinDCX has allegedly dropped to $900 million from $2.2 billion.
• CEO Sumit Gupta has termed the discussions as mere speculation.