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Copper CEO Amar Kuchinad exits as company sale search drags on

Copper has been seeking a buyer since at least May, with financial firm Cantor Fitzgerald marketing the custody business at about $500 million.

Reported · Written up by our desk · Market Structure

Copper’s global CEO Amar Kuchinad has left the cryptocurrency custody firm, according to two people familiar with the matter, as the company’s search for a buyer enters a fourth month.

Copper had become involved in a protracted process to find an acquirer for a business that was valued at over $2 billion at one point, and was later reported to be receiving interest around the $200 million mark, with Cantor Fitzgerald appointed to facilitate the sale.

The company has also added leadership, naming Elin Cherry as chief compliance officer and Sean Bowen as chief operating officer.

Copper’s in-custody Clearloop settlement system has signed clients including Coinbase, Bitfinex, and Kraken, and neither the company nor Kuchinad responded to requests for comment by publication time.

Latest closeCopper $6.606 ▲1.5%

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