Coinbase is reportedly in advanced discussions to acquire India’s crypto exchange CoinDCX, which recently suffered a significant hack. The acquisition, if completed, would be valued at less than a billion dollars, marking a strategic move by Coinbase to strengthen its presence in the Indian market. Sources suggest that purchasing CoinDCX at a discounted valuation could be a low-cost gamble for Coinbase, potentially leading to substantial benefits if India’s crypto market grows. Despite the discussions, a Coinbase spokesperson stated that they do not comment on rumors or speculation, emphasizing their commitment to exploring opportunities worldwide. The valuation indicated a significant decrease from CoinDCX's $2.2 billion worth in April 2022. Additionally, Coinbase is exploring options to combine its stakes in CoinDCX and CoinSwitch, another Indian crypto exchange, although no formal negotiations have begun. This acquisition consideration comes on the heels of Coinbase’s previous strategic moves, including the acquisition of Deribit to enhance its crypto derivatives market position.

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