Vivek Gupta, the Chief Technology Officer (CTO) of CoinDCX, has stepped down after working at the crypto company for five years.
“Our CTO, Vivek Gupta, who has been an integral part of our journey for over five years, has been instrumental in building a world-class tech platform and scaling a 200+ member engineering team. As Gupta moves on to explore new opportunities, we remain deeply grateful for his contributions, particularly in establishing a global engineering hub that supports our growth in India and international markets,” CoinDCX said in a statement.
According to his LinkedIn profile, Gupta started working at CoinDCX in 2020 as the Executive Vice President of Technology.
Tarun’s LinkedIn profile shows that he has been with the startup for just over a year after joining Cashfree Payments in April last year.
CoinDCX said that it is strengthening its leadership bench and is hiring across key roles. “We have over 100 open positions, including new senior leadership roles such as CFO and general counsel,” it said.
The report said that CoinDCX’s finance head, Abhinav Jain Janka, had also left the company. However, CoinDCX denied this, with a spokesperson saying, “The news about Janka leaving is not true.”
CoinDCX was started in 2018 by Sumit Gupta and Neeraj Khandelwal. It lets people buy and sell cryptocurrencies and other digital assets. The platform says it has over 1.6 crore users and offers more than 500 different crypto assets.
The startup became India’s first crypto exchange unicorn in 2021 after raising $90 million in a Series C funding round led by B Capital Group, which Facebook’s Eduardo Saverin co-founded.
According to CoinDCX’s financial report for FY24, its primary income dropped by 12.41%, going from ₹447.70 crore to ₹391.70 crore. Its profit also went down by 45.27%, falling from ₹28.25 crore to ₹15.46 crore.
The crypto startup said that its number of users and trading activity has grown over the past year.
Earlier this year, CoinDCX expanded to the Middle East and North Africa (MENA) region by launching its crypto trading platform, BitOasis, in Bahrain. The company said it also received a crypto services license from Bahrain’s central bank.
CoinDCX competes with other major crypto platforms like Coinbase, Binance, and CoinSwitch Kuber in India’s cryptocurrency exchange market.
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