Copper CEO exits as $500 million sale search drags on

Copper CEO Amar Kuchinad has left the crypto custody company four months into a sale process that reportedly values the firm at $500 million despite potential offers near $200 million. Summary Kuchinad has departed less than two years after taking over from Copper founder Dmitry Tokarev. Cantor Fitzgerald has been marketing the custody company with a reported $500 million price tag. Potential buyers have submitted offers near $200 million, according to an earlier report. Copper recently appointed Elin Cherry and Sean Bowen to senior compliance and operations roles. Copper CEO leaves during buyer search According to a report on Sep. 8, citing two people familiar with the matter, Kuchinad had left Copper while the company continued seeking a buyer. The report did not name a temporary or permanent replacement, disclose the reason for his exit, or say when he completed his final day. Kuchinad’s departure has come during the fourth month of the sale process. Copper appointed financial services firm Cantor Fitzgerald to find potential buyers and market the company at a reported valuation of $500 million, according to people familiar with the process. The custody firm began exploring a sa...