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Odaily News: Copper has been seeking a buyer since May this year and hired Cantor Fitzgerald to assist with the sale process, with an initial asking price of $500 million. The company has currently received offers of around $200 million, down from a peak valuation of over $2 billion. Amar Kuchinad joined Copper as CEO in October 2024, following the departure of Copper founder and former CEO Dmitry Tokarev. Kuchinad previously worked at Goldman Sachs and served as an advisor to the U.S. Securities and Exchange Commission. Copper recently added two new executives, with Elin Cherry as Chief Compliance Officer and Sean Bowen as Chief Operating Officer.
According to Cointelegraph, digital asset infrastructure provider Copper announced that its US subsidiary, Copper Markets (US) Inc., officially obtained SEC-registered broker-dealer status on August 7 and became a FINRA member, officially establishing a compliant market presence in the United States. The company will provide institutional clients with qualified custody, staking, financing, and over-the-counter trading services, while also opening its ClearLoop network, allowing institutions to pledge and transfer crypto assets and tokenized assets between counterparties as collateral.
According to Bloomberg, cryptocurrency hedge funds are extending their trading activities into traditional commodities and stock indices. Previously, these funds operated in the cryptocurrency markets—long overlooked by Wall Street—trading tokens on 24/7, clearinghouse-free, and unregulated platforms. Now, traditional assets such as crude oil, copper, and the Nasdaq-100 Index are increasingly appearing on these platforms, signaling that cryptocurrency trading infrastructure is penetrating mainstream financial assets.