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Crypto

Copper CEO Exits as Sale Process Continues with Lower Offers

Guavy AI Editorial Team
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Copper CEO Amar Kuchinad has left the crypto custody company after four months of searching for a buyer. The sale process, led by financial services firm Cantor Fitzgerald, values Copper at $500 million despite potential offers near $200 million.

Kuchinad departed from his role less than two years after taking over as CEO from founder Dmitry Tokarev. The company began exploring a sale in May, when it appointed Cantor to market the business and find potential buyers.

During the sale process, Copper has received offers near $200 million, significantly lower than its reported valuation of $500 million. This price difference may be due to the current state of the crypto market or the complexity of the custody services offered by Copper.

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