On September 9, Amar Kuchinad, the CEO of cryptocurrency custody firm Copper, has resigned, marking the fourth month of negotiations for the company's sale. 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 of this year and has hired Cantor Fitzgerald to assist with the sale, initially priced at $500 million. Last month, CoinDesk reported that the company received offers around $200 million, while Copper's valuation exceeded $2 billion at its peak. Recently, Copper also added two new executives: Elin Cherry as Chief Compliance Officer and Sean Bowen as Chief Operating Officer. As of the time of publication, neither Copper nor Kuchinad has responded to requests for comment.
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Copper CEO Resigns as Sale Negotiations Enter Fourth Month
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