Amar Kuchinad, the CEO of cryptocurrency custody firm Copper, has officially departed the company as of early 2026. This leadership change occurs at a critical juncture, as the firm has been actively seeking a buyer for at least four months. Kuchinad, who took the helm in 2024, leaves behind a company that has been a staple of institutional crypto infrastructure but is now navigating a complex M&A (mergers and acquisitions) landscape.
The search for a buyer has reportedly entered its fourth month without a finalized deal, suggesting a disconnect between the company’s valuation and market appetite. Sources familiar with the matter indicate that the departure may be linked to a strategic shift or an impasse in the sale process. Copper has previously been recognized for its ClearLoop network, which allows institutional traders to settle trades without moving assets onto exchanges, a technology that remains highly relevant in the current regulatory environment.
From a market perspective, this transition highlights the ongoing consolidation within the digital asset custody sector. As traditional financial institutions in the U.S. and Europe seek to integrate crypto services, specialized custodians like Copper are primary targets. However, the prolonged sale period and the exit of a CEO can be perceived as signs of internal friction or a lack of confidence from potential suitors, which could lead to a lower final sale price.
Institutional investors and Copper clients should monitor for the appointment of an interim or permanent successor, as well as any official statements regarding the progress of the sale. The outcome of Copper’s search for a buyer will serve as a significant indicator of the current appetite for crypto infrastructure acquisitions in 2026. If a major traditional bank or a Tier-1 exchange steps in, it could validate the institutional custody model despite this sudden leadership vacuum.