Sumit Gupta, an IIT Bombay alumnus, is the co-founder and CEO of CoinDCX, India's first crypto unicorn. He is recognized as a visionary entrepreneur and technology leader who has spearheaded the Web3 revolution in India. Gupta's journey is rooted in a vision to build a trusted and transparent cryptocurrency exchange, fostering widespread adoption of digital assets in India.
Gupta's foray into the crypto world began in 2014 when he recognized the potential of blockchain technology to transform economies and empower individuals, particularly those excluded from traditional financial systems. In 2018, he and his IIT classmate, Neeraj Khandelwal, co-founded CoinDCX with the clear objective of nurturing the Indian crypto and Web3 ecosystem.
CoinDCX aimed to create a platform that aggregated global liquidity and trading services onto a single, user-friendly gateway. This meant simplifying the process of buying, selling, and trading cryptocurrencies, making it accessible to a broader audience. Prioritizing customer experience and security was also a key focus. Today, CoinDCX stands as the largest and most trusted crypto exchange in India, boasting over 16 million users. The platform is committed to upholding the highest standards of compliance and security, being the first FIU-registered entity and holding ISO 27001:2022 certification.
Transparency has been a guiding principle for Gupta in building CoinDCX. Following the collapse of FTX and other incidents that shook investor confidence, Gupta emphasized the importance of transparency in reassuring users about the safety and security of their funds. CoinDCX has taken several steps to demonstrate its commitment to transparency, including publishing Proof of Reserves (PoR) and liability reports. Gupta has stressed that PoR is just one aspect of the picture and that equal visibility of liabilities is necessary to ensure a healthy Reserves-to-Liability (R2L) ratio.
In July 2025, CoinDCX faced a security breach involving approximately $44.2 million. In response, Gupta reaffirmed the company's financial strength, sharing data that showed the DCX Group had an annual revenue of approximately $136 million, an annual transaction volume of $158 billion, and over $1.15 billion in assets under custody. CoinDCX also has a broader commitment to investor protection, with Gupta previously assuring that the company would cover losses from its reserves.
Beyond CoinDCX, Gupta is actively involved in shaping the future of Web3 in India. He played a crucial role in launching the Bharat Web3 Association and has initiated programs like Unfold and Namaste Web3 to foster a robust Web3 ecosystem. CoinDCX also operates a learning academy that offers guides, articles, courses, and lectures related to blockchain and cryptocurrencies. Looking ahead, Gupta believes that virtual digital assets (VDAs) have the potential to drive unprecedented financial inclusion in India and aims to onboard 50 million Indians to the decentralized financial ecosystem.
