India, July 29 -- Crypto unicorn CoinDCX's founder Sumit Gupta has dismissed a report suggesting that US-based cryptocurrency major Coinbase is in advanced negotiations to acquire the company, which is recovering from a recent $44 Mn hack.

In an X post, Gupta said, "Ignore the rumours! CoinDCX is 'super focused' on building for India's crypto story and not up for sale!"

This comes after a Mint report, citing sources close to the matter, said that Coinbase is in discussions for a potential acquisition of CoinDCX, which would possibly value the latter at less than a billion dollars, that is below its peak valuation of $2.2 Bn.

Founded in 2018 by Gupta and Neeraj Khandelwal, CoinDCX allows users to trade in cryptocurrencies and other digi...