Coinbase is reportedly close to finalizing a deal to acquire Indian crypto exchange CoinDCX for under $900 million—a significant drop from CoinDCX's previous $2.2 billion valuation. This comes just weeks after CoinDCX was hit by a $44 million hack, raising questions about the timing and terms of the deal.

Editor’s Note: If true, this deal highlights the rough patch CoinDCX is going through—post-hack jitters and a valuation plunge. For Coinbase, it could be a strategic (and discounted) move into India’s growing crypto market, but it also signals how volatile and risky the industry remains. Investors and users will be watching to see how this shakes out.