Coinbase eyes CoinDCX acquisition amid India expansion plans
Coinbase, the leading U.S.-based cryptocurrency exchange, has initiated acquisition talks with CoinDCX—one of India’s largest digital asset platforms. The potential deal is part of Coinbase’s broader strategy to strengthen its foothold in Asia’s rapidly expanding crypto market. It also comes at a time when CoinDCX is grappling with the aftermath of a major security incident and a sharp decline in valuation.
According to BeInCrypto, CoinDCX’s estimated valuation has dropped from a peak of $2.15 billion in 2021 to under $1 billion today. The decline follows a hack in July 2025 that targeted the exchange’s hot wallet used for internal liquidity operations, resulting in the theft of $44 million. Although customer funds were unaffected thanks to cold wallet storage, the breach raised serious concerns about platform security. CoinDCX CEO Sumit Gupta assured users that client assets remain safe and that the losses will be covered by the company’s reserves.
Coinbase’s growth strategy and M&A activity
If completed, the acquisition would be yet another addition to Coinbase’s active mergers and acquisitions strategy in 2025. The company previously acquired Deribit for $2.9 billion and also bought startups Liquifi, Spindl, and Iron Fish to enhance its infrastructure and product suite.
Coinbase’s interest in India aligns with its recent regulatory progress. In March 2025, the exchange received a license from India’s Financial Intelligence Unit (FIU), allowing it to re-enter the market after its 2022 launch was disrupted by compliance issues. According to data from Triple-A, India has more than 93 million crypto users, making it one of the most important growth markets for global crypto platforms.
CoinDCX’s market position and outlook
CoinDCX, which raised $135 million during its Series D funding round and served over 10 million users at its peak, is currently ranked 397th among centralized exchanges, according to CoinMarketCap. The exchange’s daily trading volume is approximately $14 million, with total assets valued at around $160 million.
If finalized, the acquisition could serve as a pivotal milestone in Coinbase's deeper involvement in India’s digital economy, bringing global infrastructure and stronger security protocols to one of the world’s most promising crypto markets.
Also read: PayPal launches crypto payment platform for U.S. merchants
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