CoinScoopCopper CEO Amar Kuchinad steps down amid ongoing sale negotiations
Crypto custodian Copper is currently in the fourth month of sale negotiations, with CEO Amar Kuchinad stepping down from his position. Kuchinad, a former Goldman Sachs executive and SEC advisor, joined the firm in October 2024 following the departure of founder Dmitry Tokarev. Copper has been seeking a buyer since May, with Cantor Fitzgerald assisting the process. While the initial asking price was $500 million, recent reports suggest bids are around $200 million, a significant drop from the company's peak valuation of over $2 billion.
Summaries are written by AI from the original article. Not investment advice.