Amar Kuchinad, chief executive officer of digital asset custody provider Copper, has stepped down from his post while the organization’s quest for an acquirer stretches into its fourth month, based on information provided by two individuals close to the situation.
Copper, whose Clearloop in-custody settlement platform has onboarded clients such as Coinbase COIN$178.96·Market Closed, Bitfinex, and Kraken, has been actively pursuing a buyer starting no later than May.
Investment bank Cantor Fitzgerald was retained to manage the transaction process, initially promoting the business with a $500 million price tag. CoinDesk revealed last month that the enterprise, which once commanded a valuation surpassing $2 billion during its peak, has been drawing bids closer to $200 million.
Copper recently integrated a pair of executives into its management ranks, bringing in Elin Cherry as chief compliance officer alongside Sean Bowen as chief operating officer.
Kuchinad assumed the CEO role at Copper back in October 2024, succeeding the company’s founder and former CEO Dmitry Tokarev. Prior to this, Kuchinad spent time at Goldman Sachs and also served in an advisory capacity for the U.S. Securities and Exchange Commission (SEC).
Neither Copper nor Kuchinad provided a statement when approached for comment prior to publication.
Originally published at https://www.coindesk.com/business/2026/09/08/copper-ceo-amar-kuchinad-departs-as-search-for-a-buyer-enters-a-fourth-month.
