Copper, the crypto custody firm once valued at $2.5 billion, has attracted potential buyers—but the bids on the table fall well short of the roughly $500 million price tag it set earlier this year, according to reports.
A Steep Fall From Peak Valuation
Copper, which provides digital asset custody and trading infrastructure for institutional clients, was once a darling of the crypto sector with a valuation reaching $2.5 billion. That figure has since collapsed as market conditions and investor appetite shifted dramatically.
Investment bank Cantor Fitzgerald began marketing the company at around $500 million in May of this year, a fraction of its former worth. Even at that reduced level, prospective acquirers are reportedly unwilling to meet the asking price.
The gap between Copper's ambitions and buyer reality underscores how far crypto valuations have fallen from their peaks.
Interest Without Agreement
While the firm has drawn interest from multiple parties, the offers submitted so far are said to be substantially below the $500 million target. That mismatch has complicated efforts to complete a sale on terms acceptable to Copper's stakeholders.
The situation reflects broader challenges facing crypto infrastructure companies that raised money at lofty valuations during the industry's boom years, only to confront a more cautious funding environment.
- Copper was previously valued at $2.5 billion at its peak.
- Cantor Fitzgerald began marketing the firm near $500 million in May.
- Current offers reportedly fall well below that asking price.
For now, a deal remains uncertain. Whether Copper's leadership accepts a lower price or holds out for a better offer could shape the next chapter for one of the sector's prominent custody providers.