Copper CEO Amar Kuchinad departs as buyer search drags into fourth month

Copper.co, the London-headquartered digital asset custody firm that once commanded a $2.5 billion valuation, is now navigating a leadership vacuum on top of a sale process that isn’t going according to plan. CEO Amar Kuchinad has departed the company as the search for a buyer enters its fourth month with offers clustering around $200 million, a figure that would represent a 92% haircut from the company’s peak valuation. A sale that keeps getting cheaper Copper kicked off its formal sale process back in May 2026, enlisting investment bank Cantor Fitzgerald to find potential acquirers. The initial target was a $500 million valuation. That figure already represented a steep markdown from the $2.5 billion the company was once worth at its funding peak. By late August, even that reduced ask proved too rich. Buyer interest coalesced around the $200 million range, according to reports. For a company that has raised approximately $286 million in total funding across multiple rounds, a $200 million exit would mean investors collectively lose money on the deal. Kuchinad took the CEO role in October 2024, succeeding founder Dmitry Tokarev, who remains a key shareholder. The company has been w...