Global investors believing in India's crypto story are backing us

With Bitcoin hitting new highs, India's crypto platforms are celebrating.

- Sumit Gupta, Co-founder, CoinDCX

Crypto exchange startup CoinDCX, also India's first crypto unicorn, recorded ₹23,497 crore in spot trading volume in the first half of this year, a 37% jump over H1 last year. In an interview with S Shanthi, CoinDCX co-founder Sumit Gupta, talks about the recent shift in how the country is approaching Web3 and crypto policy, improved capital flow towards startups with strong product-market fit and how the company is recovering from the $44 million loss it faced due to a security breach last month.

Excerpts:

Bitcoin has been hitting new all-time highs this year. Do you think this will put an end to negative market sentiments towards crypto?

Yes, the sentiment around crypto has shifted. Bitcoin hitting new all-time highs has played a major role, and Ethereum's continued resilience has further reinforced confidence in foundational protocols. The approval of spot Bitcoin and Ethereum ETFs in the US was a big milestone. It's no longer just about institutional interest. We are seeing real institutional participation. Startups with solid fundamentals are once again being seen as high-potential opportunities, and the blanket pessimism we saw during the downturn is steadily fading.

CoinDCX suffered a $44 million security breach last month, but there was zero impact on customer assets.

How did you ensure that?