Copper’s crypto custody firm draws buyers; bids far below $500M
Crypto custody firm Copper has potential buyers. But offers are way below its $500 million asking price
Crypto custody firm Copper has attracted interest from potential buyers, but bids so far have come in well below the company’s stated $500 million asking price.
The gap between what Copper is seeking and what buyers appear willing to pay underscores a difficult environment for crypto infrastructure companies trying to raise capital or pursue an exit. Custody providers sit at the center of institutional crypto markets, safeguarding assets for funds, exchanges, and corporate clients, and their valuations often reflect expectations of continued growth in institutional adoption.
In the current market, however, acquisition discussions have increasingly been shaped by tighter funding conditions and more conservative valuation assumptions. For firms in custody and other “picks-and-shovels” segments of crypto, that can translate into a mismatch between prior fundraising-era price expectations and today’s deal appetite.
The situation at Copper highlights how, even for established service providers, selling at a desired valuation can be challenging when buyers benchmark offers against broader market resets rather than past peaks.
