Crypto Custodian Copper CEO Departs as Sale Talks Enter Fourth Month

According to CoinDesk, cryptocurrency custodian Copper's CEO Amar Kuchinad has departed, as the company's sale talks enter their fourth month. Kuchinad joined Copper as CEO in October 2024, following the departure of founder and CEO Dmitry Tokarev. Kuchinad previously worked at Goldman Sachs and served as an advisor at the U.S. Securities and Exchange Commission. Copper has been seeking a buyer since May and hired Cantor Fitzgerald to facilitate the sale, with an initial asking price of $500 million. CoinDesk reported last month that the company had received offers of around $200 million, while Copper's valuation at its peak exceeded $2 billion. Copper also recently added two executives: Elin Cherry as Chief Compliance Officer and Sean Bowen as Chief Operating Officer. As of press time, neither Copper nor Kuchinad had responded to requests for comment.