Crypto custody firm Copper receives acquisition offers around $200 million, down from $500 million asking price

London-based crypto custody firm Copper has received acquisition offers around $200 million as of August 25, 2026. This is a sharp decline from the $500 million asking price marketed by Cantor Fitzgerald in mid-2026 and its peak 2021 valuation of $2.5 billion. Having raised over $300 million, Copper faces challenges with preferred stock structures. The firm now focuses on its ClearLoop settlement system, which supports over 1,000 counterparties, after halting enterprise custody in 2023.

Copper acquisition offers received

• ▪London-based cryptocurrency custody firm Copper has received two or three acquisition offers valued at approximately $200 million as of August 25, 2026.
• ▪Financial services firm Cantor Fitzgerald had previously marketed cryptocurrency custody firm Copper for sale at an asking price of $500 million in mid-2026.

Valuation decline from billions

• ▪Cryptocurrency custody firm Copper has raised more than $300 million in venture funding prior to receiving acquisition offers in August 2026.
• ▪Cryptocurrency custody firm Copper was previously valued at up to $2.5 billion during the 2021 cryptocurrency bull market.

Preferred stock investor challenges

• ▪The venture funding of over $300 million raised by cryptocurrency custody firm Copper at a high valuation has contributed to challenges regarding preferred stock structures.
• ▪Cryptocurrency custody firm Copper faces corporate challenges related to preferred stock, which gives venture investors a higher claim on the company's assets and fixed dividends.

ClearLoop institutional settlement system

• ▪The ClearLoop settlement system operated by cryptocurrency custody firm Copper supports over 1,000 active counterparties and processes over $50 billion in monthly notional trading volume.
• ▪Cryptocurrency custody firm Copper closed its enterprise custody business in 2023 to focus on ClearLoop, an institutional settlement system that eliminates settlement risk.

BitGo IPO performance comparison

• ▪Cryptocurrency custody firm Copper was in early discussions for an initial public offering (IPO) in early 2026, following a partnership with crypto custodian BitGo.
• ▪Shares of cryptocurrency custodian BitGo have declined by more than 60% since its public debut as of August 25, 2026.