Crypto startup CoinDCX has announced its “largest-ever” ESOP (employee stock ownership plan) liquidity event, amounting to ₹111 Cr. The buyback will provide liquidity to over 500 current and former employees In a statement, the unicorn startup said that the buyback ensures that “ownership” is more than a line item in an offer letter. It offers a real, liquid share in the value that our employees have created through years of effort. “We are including former employees because their contribution is permanent. Moving on to new ventures doesn’t erase the sweat equity they poured into our foundation,” it added. The startup claimed that the liquidity event reflects its robust financial health and its successful transition into a mature, scaled enterprise within the digital asset industry. Important to highlight that it recently raised an undisclosed capital from Coinbase. The transaction catapulted CoinDCX’s post-money valuation to $2.45 Bn. The startup has raised over $244 Mn from investors like Pantera Capital, B Capital Ventures, Bain Capital, among others. For the fiscal year FY25, the crypto unicorn posted a net profit of ₹1.7 Cr, marking a near 15% increase from about ₹1.5 Cr PAT reported in the previous year. Operating revenue rose 43% to ₹559.6… Read MoreInc42 Media
