Copper CEO Amar Kuchinad leaves as buyer search enters fourth month
CEO departure
Amar Kuchinad has left Copper, the cryptocurrency custody firm, after serving as global CEO for two years. His exit comes as the company’s search for a buyer moves into its fourth month.
Key points
- Copper has been looking for a buyer since at least May 2026.
- The firm was once valued at over $2 billion but is now being marketed at $500 million.
- Offers received are around $200 million.
- New leadership hires include Elin Cherry as chief compliance officer and Sean Bowen as chief operating officer.
- Kuchinad joined Copper in October 2024 after roles at Goldman Sachs and an advisory position with the U.S. SEC.
Sale process
Copper hired financial firm Cantor Fitzgerald to help find a buyer. The firm is being marketed at $500 million, though recent reports say offers are far below that price.
Company background
Copper provides custody services for digital assets, holding client funds for exchanges such as Coinbase, Bitfinex, and Kraken. Custody means the firm stores private keys that control access to crypto assets.
What is confirmed
- Amar Kuchinad’s departure is confirmed by two people familiar with the matter.
- Copper’s buyer search has been ongoing for four months.
- The company’s recent leadership additions are confirmed.
Why it matters
Copper is a major player in crypto custody. Changes in its leadership and ownership could affect the services it provides to large crypto exchanges.
What happens next
Copper and its advisors will continue to seek a buyer. No timeline for a sale or new leadership appointment has been announced.
