Custody firm Copper seeks buyers at $500M valuation after previously reaching $2.5B, with bids reportedly falling short.
VC & Fundraising ·
Custody firm Copper is drawing interest from potential buyers, though bids are reportedly falling well short of its $500 million asking price, according to sources tracking the sale process. The valuation represents a steep decline from Copper's previous $2.5 billion peak, underscoring pressure on digital-asset infrastructure firms amid market contraction and tightening investor appetite.
The shortfall signals broader challenges in the custody sector, where firms provide secure storage and management of crypto holdings for institutions and high-net-worth clients. Copper's struggle to attract bids near its asking price, despite drawing multiple parties, suggests either that buyers view the firm's current market position as weaker than management's expectations or that overall demand for custody services remains constrained.
It remains unclear how many parties are actively bidding, what price ranges they have offered, or what timeline Copper is targeting for a transaction. The firm has not publicly commented on the sale effort or its strategic objectives.