Crypto custody provider Copper is finding it difficult to offload the business at its desired valuation. Despite seeking a $500 million exit, interest from potential suitors has thus far failed to meet the company's expectations.
This development marks a significant shift for the London-based firm, which commanded a staggering $2.5 billion valuation during its peak. Investment bank Cantor Fitzgerald had been tasked with marketing the sale earlier this year, but market conditions have clearly cooled appetite for institutional custody assets.
The gap between the asking price and current market offers highlights the broader valuation reset occurring across the crypto-infrastructure sector. As institutional investors remain cautious, legacy crypto firms are discovering that previous venture capital premiums are no longer guaranteed.
While discussions remain ongoing, the lackluster reception underscores the challenges facing digital asset infrastructure companies as they attempt to reconcile historical price tags with the realities of today's competitive landscape.
