2024

MINA

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Crypto custodian firm Copper has appointed a new chief executive to double down on its presence in the U.S., Hong Kong, and Abu Dhabi.
Copper, a <a href="https://crypto.news/tag/crypto-custody/" target="_blank" rel="noopener noreferrer nofollow">crypto custodian</a> and collateral management hub, announced the appointment of Amar Kuchinad as its new global chief executive as the firm seeks to strengthen its institutional approach and expand its presence in the U.S., Hong Kong, and Abu Dhabi.
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 We are thrilled to announce the appointment of Amar Kuchinad as the new Global CEO of Copper, taking over from Copper’s founder Dmitry Tokarev. Over the past seven years, <a href="https://twitter.com/tokarev_d?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@tokarev_d</a> has not only built Copper from the ground up but has also set a high standard for innovation in… <a rel="noopener noreferrer nofollow" href="https://t.co/iEbbWMQ2zu" target="_blank">pic.twitter.com/iEbbWMQ2zu</a>— Copper.co (@CopperHQ) <a href="https://twitter.com/CopperHQ/status/1845791883672367243?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 14, 2024</a>
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In a <a href="https://copper.co/en/insights/company-news/copper-co-appoints-amar-kuchinad-as-its-new-global-ceo" target="_blank" rel="noopener noreferrer nofollow">blog announcement</a>, Copper said that Kuchinad, who succeeds founder Dmitry Tokarev, will spearhead the company’s growth strategy, driving its “institutional-first approach to accelerate expansion across core markets.”
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 “Strengthening Copper’s U.S. presence whilst building on recent regulatory milestones in Hong Kong and Abu Dhabi will be central to this approach.”
 Copper
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Tokarev, after seven years as CEO, will continue his involvement as founder director and strategic shareholder, per the blog announcement. Prior to Copper, Kuchinad served as managing director at Goldman Sachs and as a senior policy advisor at the U.S. Securities and Exchange Commission. He also founded Electronifie, which developed an SEC-registered alternative trading platform.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/uk-based-copper-adds-custody-staking-support-for-mina/"> UK-based Copper adds custody, staking support for MINA </a>
In his new role, Kuchinad will oversee ClearLoop, the firm’s custody and trading network, which is said to be processing 20 million trades each month, amounting to a total notional value of $100 billion.
The leadership change comes amid heightened scrutiny of Copper following investigations revealing links to sanctioned individuals. A <a href="https://crypto.news/crypto-custodian-copper-reportedly-transferred-over-4m-to-entity-allegedly-tied-to-russian-arms-dealing-network/" target="_blank" rel="noopener noreferrer nofollow">report</a> by the International Consortium of Investigative Journalists highlighted a transfer of over $4.2 million in crypto to Jonatan Zimenkov, a Russian national with ties to an arms-dealing network. Although the report indicated that Copper did not breach regulations at the time of the transactions, it raised questions about the firm’s compliance practices at the time.
In March 2022, Tokarev issued a&nbsp;<a href="https://copper.co/insights/company-news/we-stand-with-ukraine" target="_blank" rel="noopener noreferrer nofollow">public statement</a>&nbsp;on Copper’s website, condemning the Kremlin’s military offensive against Ukraine, adding that “the Russian government does not speak for every Russian. They do not even speak for the majority of them.”
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/barclays-bank-invests-in-crypto-assets-firm-copper/"> Barclays bank invests in crypto assets firm Copper </a>

Copper appoints new CEO to focus on strengthening US presence

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