Crypto Custodian Copper's Potential Acquisition Offer Around $200M, Far Below $500M Asking Price

On August 25, sources familiar with the matter revealed that cryptocurrency custody firm Copper is attracting interest from potential buyers, but current two to three acquisition offers are around $200 million, significantly below the approximately $500 million valuation sought by investment bank Cantor Fitzgerald in May this year.

Copper was valued at up to $2.5 billion during the 2021 bull market and has raised over $300 million in total funding. The company closed its institutional custody business in 2023, shifting focus to its institutional settlement system ClearLoop. Copper did not respond to requests for comment, and Cantor Fitzgerald declined to comment.

[TechFlow]