Copper Draws Bids Far Below $500 Million Asking Price
Copper provides digital-asset custody and trading infrastructure for institutional investors and was once valued at $2.5 billion. Its effort to sell for $500 million already represents a steep reset from that peak, yet prospective buyers remain unwilling to meet the price. The gap underscores how investors have turned more cautious on crypto businesses as the sector’s earlier funding boom has faded.
Copper enlisted investment bank Cantor Fitzgerald in May 2026 to run a sale process and has attracted interest from potential buyers. Offers have reportedly come in at about $200 million, far below the company’s $500 million asking price and less than one-tenth of its former valuation. Any transaction may therefore depend on whether Copper accepts a substantially lower price.
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The history behind this eventCrypto Custodian Copper Seeks Sale for About $500 Million
Crypto custodian Copper serves institutional investors. Its flagship ClearLoop product, launched in 2020, enables delivery-versus-payment settlement while assets remain in custody, reducing settlement risks arising from counterparties and on-chain transfers. The company shut down its enterprise custody business in 2023 to focus its resources on the system.
CoinDesk reported on May 20, 2026, citing two people familiar with the matter, that Copper was seeking a buyer and targeting a sale price of about $500 million. It has hired Cantor Fitzgerald to assist with the transaction. Copper's website says ClearLoop has more than 1,000 active counterparties and over $50 billion in monthly notional trading volume. Neither company responded to requests for comment at the time.
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