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CoinDCX appoints Amol Wanjari as Engg Head, Sangeeth Aloysius as Product Head

EntrackrEntrackr · 2d ago
CoinDCX appoints Amol Wanjari as Engg Head, Sangeeth Aloysius as Product Head
Medial

Crypto exchange CoinDCX has appointed Amol Wanjari as Head of Engineering and Sangeeth Aloysius as Head of Product. According to CoinDCX, these leadership appointments support its focus on onboarding more Indian investors over the next six months. The company is also expanding its workforce, with plans to increase hiring by 15% as part of its growth strategy. It aims to build secure, efficient, and user-focused trading systems for Indian users. Amol Wanjari, formerly with Amazon, has over 20 years of experience and has held engineering roles at Amazon Pay, Acko, and Bizongo. His background includes work on distributed systems, AI-based tools, and platform development, along with experience in team development and infrastructure delivery. "My focus will be on strengthening this foundation and making the platform even more seamless, reliable, and intuitive for every kind of investor. We have a strong team of over 200 engineering professionals, and therefore we’re well-positioned to innovate at scale and redefine the future of crypto investing in India," said Amol Wanjari. Sangeeth Aloysius, formerly with Flipkart, has over 18 years of experience in product management. He previously served as Senior Director and Head of Products at Flipkart, where he worked on consumer experience, pricing, loyalty, and supply chain. He is an alumnus of the Indian School of Business. With a user base of over 1.9 crore, CoinDCX is working to improve platform access, expand its offerings, and enhance its trading experience through technology and operational changes.

Exclusive: CoinDCX CTO, Finance and Legal heads set to resign

EntrackrEntrackr · 1m ago
Exclusive: CoinDCX CTO, Finance and Legal heads set to resign
Medial

Exclusive: CoinDCX CTO, Finance and Legal heads set to resign Crypto exchange CoinDCX is facing a fresh round of exodus at the top level, with multiple senior executives set to exit the company, according to two sources familiar with the matter. “CoinDCX’s Chief Technology Officer (CTO), Head of Finance, and Head of Legal are exiting the company as part of broader structural changes aimed at streamlining operations and cutting costs,” said a source requesting anonymity. CoinDCX has also initiated a new round of layoffs, though the number of affected employees remains unclear. In August 2023, the Bengaluru-based firm had laid off around 12% of its workforce, impacting around 70 staff. As per sources, the changes come as CoinDCX continues to grapple with declining trading volumes and increasing compliance headache. Confirming the top-level exits, a CoinDCX spokesperson said, "We are ramping up our teams and strengthening our leadership bench across key functions. We currently have over 100 open positions, including new senior leadership roles such as CFO and General Counsel. Our business has scaled significantly across geographies, and we expect this momentum to continue as the crypto industry gains broader recognition…” Seven-year-old CoinDCX claims to be the largest cryptocurrency exchange in India, with more than 15 million registered users. The company recently began operations in Bahrain through its subsidiary BitOasis as part of its expansion into the MENA region. Led by Sumit Gupta, CoinDCX is aiming to generate over 30% of its revenue from this market. CoinDCX turned unicorn in August 2021 when the firm raised $90 million in Series C round. The company scooped up another $135 million to go past the $2 billion valuation mark in April 2022. However, it has not raised any external funding over the past three years. Crypto platforms in India have been under scrutiny as the country has yet to establish a regulatory framework for the sector. In the past, the Enforcement Directorate summoned several cryptocurrency firms, including CoinDCX, to investigate potential violations of the Foreign Exchange Management Act (FEMA). An ET report suggests that India is expected to publish a discussion paper in June to examine potential policy options for crypto assets. The paper will reportedly incorporate insights from a joint report by the International Monetary Fund (IMF) and the Financial Stability Board (FSB).

CoinDCX elevates Mridul Gupta to founding partner

EntrackrEntrackr · 11m ago
CoinDCX elevates Mridul Gupta to founding partner
Medial

Crypto exchange CoinDCX has elevated Mridul Gupta as its founding partner. In his new role, Gupta will be responsible for meeting the company’s growth goals, focusing on international expansion, building high-performance teams, and driving profitability. According to CoinDCX, Gupta will continue to be responsible for the India market, strengthening its product portfolio, marketing, partnerships, and operations to accelerate the firm’s strategic growth in India. He joined the platform in 2021 as its chief operating officer (COO) and has been instrumental in building compliant crypto investment & trading products. Prior to CoinDCX, he was the chief strategy officer at Pine Labs. He also had a stint at Stellaris Venture Partners, Goldman Sachs, his own startup and consulted multiple banks across India & South East Asia. Recently, CoinDCX has acquired BitOasis as they are planning to enter into the Middle East and North African market. Launched in 2018 by Sumit Gupta, CoinDCX is a cryptocurrency trading platform designed to facilitate cryptocurrency transactions. The company’s platform allows customers to trade multiple cryptocurrencies legally and withdraw funds to their bank account.

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