CoinDCX appoints Vivek Gupta as new CTO

Home-grown crypto company CoinDCX has appointed Vivek Gupta as the chief technology officer (CTO),  elevating him from his previous role as head of engineering and executive vice president (EVP).

As the CTO, Gupta will spearhead the innovation and capability-building efforts for simplifying the user experience through web3 solutions for CoinDCX’s 15 million user base. He will also be responsible for onboarding new users on the platform and lead a 190-member team across engineering, DevOps, data science, and infrastructure.

“In my new role, I am excited for the opportunity to lead CoinDCX’s technological initiatives and together with the team shape the future of web3,” said Gupta.

In his previous role at CoinDCX, Gupta led the technology side development of the self-custody wallet Okto, a CoinDCX decentralised finance (DeFi) initiative. Okto was launched in August 2022 to enable users to access thousands of tokens from several decentralised exchanges across chains using the built-in wallet. Apart from Okto, Gupta has also built several other technology solutions for CoinDCX from the ground up, the company said in a statement.

Earlier this month, the company appointed Sridhar Govardhan as the head of information security, Amit Gala as the head of finance, and Rajnish Vedi as the head of customer experience, as part of the company’s expansion strategy.

Last month, CoinDCX reportedly fired 80-100 employees in a ‘silent layoff’ from the marketing, branding, and activation teams as a cost-cutting measure. The news came at the heels of Coinbase’s announcement of laying off 950 employees and plans to cut down operating expenses by 25% quarter-on-quarter. Coinbase is an investor in CoinDCX.