Copper Receives Lowball Takeover Bids Below $500M Asking Price

Crypto custody firm Copper has received multiple takeover bids from two to three interested parties, according to a report. The offers are significantly lower than the company's initial asking price of $500 million, with estimates ranging around $200 million.

The reported bids reflect a broader trend of consolidation in the crypto industry, where many companies that raised capital at peak valuations are now facing down rounds or distressed sales.

Copper provides institutional-grade custody and settlement solutions for digital assets. The company's sale process is being managed by Cantor Fitzgerald, which was engaged to explore strategic options for Copper.