Crypto exchange CoinDCX’s Chief Technology Officer Vivek Gupta is stepping down after a five-year stint at the company.
Entrackr was the first to report on this. CoinDCX confirmed to YourStory that Gupta has put in his papers.
According to the Entrackr report, the company’s head of legal is also exiting, and both exits are expected to happen by the end of June.
Gupta joined CoinDCX in June 2020 as the executive vice president of technology and was elevated to CTO in 2023. Prior to this, he served as the vice president of D2C technology platform Instamojo for over a year-and-a-half.
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Established in 2018, CoinDCX has over 1.6 crore registered users on its platform, making it one of the largest crypto exchanges in the country with a quarterly trading volume of over Rs 79.6 crore.
In 2021, the company became India’s first crypto unicorn after raising $90 million in a Series C funding round, at a valuation of $1.1 billion.
In FY24, CoinDCX’s holding company, Neblio Technologies reported a 45.27% fall in profit after tax to Rs 15.46 crore. It also reported a 12.4% decline in revenue from sale of services at Rs 391.76 crore during this period.
Meanwhile, a report in The Economic Times, citing sources, said that India is likely to release a discussion paper next month to explore policy options for crypto assets. This comes at a time when there is a growing acceptance of cryptocurrency worldwide, following US President Donald Trump’s pro-crypto stance.
Edited by Swetha Kannan
