Copper CEO exits as $500M sale continues

• Copper CEO Amar Kuchinad has left the company as its search for a buyer enters its fourth month.
• Copper is seeking $500 million, while reported buyer interest has reached about $200 million.
• Copper was once valued above $2 billion, creating a wide gap between its past valuation and current sale process.

Copper CEO Amar Kuchinad has left the company as Copper’s search for a buyer enters its fourth month.

Copper has been seeking a buyer since May, with Cantor Fitzgerald marketing the company for $500 million.

Reported buyer interest has reached about $200 million, well below Copper’s previous valuation above $2 billion.

Copper has recently appointed Elin Cherry as chief compliance officer and Sean Bowen as chief operating officer.

Kuchinad joined Copper as CEO in October 2024 after founder Dmitry Tokarev left the company, following roles at Goldman Sachs and the SEC.

Copper’s ClearLoop platform provides crypto custody and settlement services and has clients including Coinbase, Bitfinex and Kraken.