# Ignore the Rumors: CoinDCX CEO Addresses $900 Million Coinbase Acquisition Plan
## Introduction
In a recent statement, CoinDCX CEO Sumit Gupta addressed rumors swirling around a potential $900 million acquisition plan by Coinbase. These rumors come in the wake of a $44 million crypto hack that the Indian crypto exchange faced just two weeks ago. Let’s delve into Gupta’s response to these acquisition speculations.
## Denial of Acquisition Rumors
Insider reports circulating earlier today suggested that the American giant Coinbase is eyeing CoinDCX for acquisition, reportedly at a significant discount from its $2.2 billion valuation three years ago. However, Gupta has come forward to deny these acquisition rumors, emphasizing a different narrative.
## The Clarification by Sumit Gupta
Gupta firmly refutes the claims of a pending acquisition deal with Coinbase. He dismisses the notion that the exchange is in talks with Coinbase for a possible takeover at the speculated discounted price. This firm denial sheds light on the realities of the situation amid the ongoing uncertainties in the crypto space.
## Conclusion
As the speculations surrounding the rumored $900 million acquisition plan by Coinbase continue to circulate, Sumit Gupta’s clear denial stands as a beacon of truth amidst the uncertainty. It is essential to sift through the rumors and focus on verified information to understand the evolving landscape of the crypto industry.
*The post ‘Ignore the Rumors’ Says CoinDCX CEO on $900 Million Coinbase Acquisition Plan originally appeared on CoinGape.*