Crypto custody company Copper CEO Amar Kuchiad resigns, company sales negotiations continue for four months

Amar Kuchiad, CEO of Copper, a cryptocurrency custody company, has resigned after four months of negotiations to sell the company. Copper has been searching for buyers since May and has hired Cantor Fitzgerald to assist. The initial asking price was $500 million, and the current offer received is about $200 million. The company's peak valuation once exceeded $2 billion. Copper recently added Chief Compliance Officer Elin Cherry and Chief Operating Officer Sean Bowen. Copper and Amar Kuchiad did not respond to requests for comment.