CoinDCX founders reassure investors, say ‘ready for crypto winter’
Premium- Your funds are completely safe with us, CoinDCX continues to operate as usual, its CEO said
Reassuring investors' faith amid the tougher times in the crypto market, Indian crypto exchange CoinDCX founder Sumit Gupta in a note to the community said that he and Neeraj Khandelwal, co-founder, are extremely bullish that they will get through this difficult time too.
“The crypto market is going through a difficult time. Crypto winter is here. Projects people had immense faith in have started to look shaky. Times are tough, there is no denying that. But as J. Kennedy said, "when the going gets tough, the tough get going," CoinDCX shared its CEO's message in a tweet on Thursday.
“We are ready for crypto winter. As investors and traders, I assure you that there's nothing to worry about. Your funds are completely safe with us. CoinDCX continues to operate as usual. The crypto winter won't deter us from our vision and belief," he added.
The company is backed by global investors and its founder said it continues to expand its workforce to build the next generation of crypto in India with DCX Ventures, Investment and trading platforms in a compliant and secure manner.
“We have sailed through tougher times and come out strong. Neeraj and I are extremely bullish that we will get through this too," CoinDCX cheif executive Sumit Gupta added.
Crypto markets are struggling to consolidate after declining precipitously in recent months as the Federal Reserve hiked interest rates to fight inflation. The collapse of the Terra/Luna ecosystem and continued concern about hedge fund Three Arrows Capital Ltd. have further rattled investors.
All sorts of pockets in crypto have been beset by negative developments. A number of firms in the space have announced layoffs and hiring freezes, and many market-watchers are expecting further price declines.