Cryptocurrency custody firm Copper has appointed Amar Kuchinad as its new global CEO, replacing Dmitry Tokarev who will remain as the board’s founder director. Kuchinad, who previously worked at Credit Suisse, Goldman Sachs, and as a senior policy advisor to the SEC, will be responsible for leading the company’s global growth strategy, especially focusing on strengthening its presence in the U.S.
Last week, CoinDesk reported Tokarev’s plans to step down as CEO. The company aims to expand globally, as evidenced by its recent acquisition of a Trust or Company Service Provider (TCSP) license in Hong Kong.
In related news, Nasdaq has paused its plan for a crypto custody service, while Dogecoin saw an increase in value following a tweet from Elon Musk. Crypto custody, which involves storing digital assets securely, has both benefits and risks that investors should be aware of.
Additionally, Copper announced that it will be laying off up to 15% of its staff. Despite this, a Goldman Sachs analyst has stated that cryptocurrency is seen as an alternative to copper rather than gold, indicating the growing importance and value of digital assets in the current financial landscape.
As a reputable media outlet covering the cryptocurrency industry, CoinDesk upholds strict editorial policies to ensure integrity, independence, and freedom from bias in its publications. CoinDesk is part of the Bullish group, which invests in digital asset businesses, and employees may receive equity-based compensation from Bullish. The evolving landscape of cryptocurrency and digital assets continues to attract attention and investment, with key players like Copper appointing new leadership to navigate this rapidly changing industry.