ChainCatcher news, according to Coindesk, the cryptocurrency company Copper announced in a press release on Wednesday that it will now provide custody and trading for tokenized money market funds such as BlackRock's BUIDL for its clients.The company has signed new partnerships with major players in the tokenization space, including Securitize, Franklin Templeton, Ondo, and Hashnote. Securitize is the transfer agent and tokenization platform for BlackRock's US Dollar Institutional Digital Liquidity Fund, which is issued on the Ethereum blockchain and represented by the blockchain-based BUIDL token.

ChainCatcher news, according to CoinDesk, the cryptocurrency company Copper announced in a press release on Wednesday that it will now provide custody and trading for tokenized money market funds such as BlackRock's BUIDL for its clients.The company has signed new partnerships with major players in the tokenization space, including Securitize, Franklin Templeton, Ondo, and Hashnote. Securitize is the transfer agent and tokenization platform for BlackRock's US Dollar Institutional Digital Liquidity Fund, which is issued on the Ethereum blockchain and represented by the blockchain-based BUIDL token.

ChainCatcher news, Bloomberg reporter Emily Nicolle posted on X that the crypto custody firm Copper has hired former Goldman Sachs managing director Amar Kuchinad to replace Dmitry Tokarev as the group's CEO, focusing on attracting more traditional financial clients and expanding significantly in the United States.

ChainCatcher news, according to Coindesk, two people familiar with the matter revealed that Copper's CEO Dmitry Tokarev plans to step back from the company's day-to-day operations and resign from his position as CEO. One insider stated that Copper is looking for a successor.Dmitry Tokarev co-founded the company in 2018 and will remain deeply involved in its business. He is still a significant shareholder in the company. Recently, other executives have also left. Last month, founding partner and Chief Business Officer Boris Bohrer-Bilowitzki left to become the CEO of blockchain company Concordium. Mike Milner, the global revenue head who served at the company for five years, also left to join Concordium. Dmitry Tokarev has been at the helm of Copper since its establishment as a digital asset custody company focused on institutions. He graduated from Imperial College London with a degree in risk management and financial engineering.A Copper spokesperson commented in an email: "We do not comment on market rumors or speculation."

ChainCatcher news, according to Whale Alert monitoring, the wallet address marked as "Copper" transferred approximately 59,832 ETH and 1,222 BTC to OKX about 30 minutes ago, totaling around 210 million USD.It is reported that the wallet address marked as "Copper" is a custodian address, suspected to be for wallet consolidation.

ChainCatcher news, according to The Block, cryptocurrency custody firm Copper has partnered with Hedera to expand institutional access to the HBAR token. Copper will provide custody and staking services for the HBAR token and offer institutional users a gateway to DeFi through its ClearLoop and Connect platforms. Copper is chaired by former UK Chancellor of the Exchequer Philip Hammond and has over 300 large institutional and crypto exchange clients.

ChainCatcher news, according to Bloomberg, informed sources revealed that London-based cryptocurrency custody firm Copper Technologies Ltd. is considering refocusing on the U.S. market in the event of a Trump victory.It is reported that Copper opened an office in New York in 2021 but withdrew from the U.S. the following year after a crash in digital asset prices. Copper founder Dmitry Tokarev stated in a statement, "I would be surprised to hear of any digital asset company that does not see the U.S. as a growth opportunity."

ChainCatcher news, according to Cointelegraph, Sui has partnered with the custody service provider Copper to enhance its appeal to institutional funds.Greg Siourounis, Managing Director of the Sui Foundation, stated that it will launch new staking custody features and other decentralized finance functionalities to provide more options for clients issuing stablecoins and RWAs.

ChainCatcher news, according to Cointelegraph, the growth of USDT supply in June has significantly decreased, reflecting a reduction in liquidity in the crypto market.A report from cryptocurrency custodian Copper shows that as of June 24, the month-over-month growth of Tether (USDT) supply was less than 1.5%, significantly lower than the growth rates in April and May (over 5%).Copper's research director Fadi Aboualfa stated, "This indicates that as Bitcoin and Ethereum face downward pressure, the liquidity flowing into the crypto market is decreasing, while altcoins are still lagging far behind, with almost no hope for a significant rebound in the short term."USDT trading volume has dropped from a historical high of $76.72 billion on March 11 to $5.35 billion on June 24. With the market cap of USDT reaching $113 billion, the slowdown in supply growth indicates a decrease in funds flowing into the crypto market.Additionally, the daily outflow from the Bitcoin market has recently increased significantly, with over $540 million flowing out last week. Over the past 30 days, the price of Bitcoin has fallen by more than 10%, from $68,000 to $62,000.

According to ChainCatcher news reported by The Block, the cryptocurrency exchange platform Kraken has increased support for Copper's ClearLoop, allowing institutional clients to settle trades on Copper's infrastructure rather than on the exchange itself.ClearLoop enables such traders to trade virtual balances on the exchange while actual settlements occur on their own network. This means that the token balances of these traders are guaranteed by Copper, rather than being stored on the exchange. This move helps institutional clients reduce the risk of funds being stolen.

ChainCatcher news, cryptocurrency custody and trading company Copper announced on Wednesday that it is working with the Abu Dhabi Global Market Financial Services Regulatory Authority (FSRA) to launch digital securities brokerage services in Abu Dhabi early next year.

ChainCatcher news, according to CoinDesk, digital asset custodians BitGo and Copper are merging their respective custody settlement networks. The combination of BitGo's Go Network and Copper's ClearLoop system will allow users to access exchanges such as Bybit, OKX, Powertrade, Bitget, Gate.io, Deribit, BIT, Bitfinex, and Bitstamp.Matthew Ballensweig, head of Go Network, stated that the expansion of the company's existing over-the-counter settlement network is currently primarily aimed at non-U.S. users, but the next step will be a launch in the U.S. BitGo recently announced that it has obtained a cryptocurrency custody license issued by Germany's financial regulator BaFin. Copper closed its enterprise custody business earlier this year to focus on its ClearLoop settlement network, which was launched in 2020 and serves dozens of institutional companies.

ChainCatcher news, according to CoinDesk, Komainu, a compliant digital asset custodian jointly established by Nomura Securities, Ledger, and Coinshares, has joined the ClearLoop network of the crypto custody platform Copper. This collaboration will allow Komainu's institutional clients to trade through ClearLoop, enabling clients to benefit from the regulated on-chain custody provided by Komainu while gaining access to over-the-counter settlement through the network. ClearLoop allows investors to connect multiple exchanges within a trading network, holding assets before trade execution, thereby reducing counterparty risk and eliminating the need to transfer assets to exchange-based wallets.

ChainCatcher news, Bitget announced a partnership with the crypto custody platform Copper to provide over-the-counter settlement services for institutional clients, which has now integrated Copper's ClearLoop network. After the integration, Bitget's institutional clients will securely store their assets within Copper's infrastructure while delegating their assets for trading on the Bitget platform. Once client assets are stored in Copper and connected to their Bitget account, the Bitget account will instantly display the balance and support over 450 tokens and more than 580 trading pairs. (source link)

ChainCatcher news, according to CoinDesk, Wu Jihan's digital asset financial services platform Matrixport has partnered with cryptocurrency custody company Copper to provide over-the-counter settlement services for its institutional clients. Matrixport will join Copper's ClearLoop network, allowing users to securely store their assets within Copper's infrastructure while trading on exchanges connected to ClearLoop through Matrixport sub-accounts. (Source link)

ChainCatcher news, digital asset custody provider Copper has announced the appointment of Stefano Maestri as Chief Technology Officer, Sam Goh as Chief Financial Officer, and Sam Brown as General Counsel. Copper has also recently appointed former Coinbase Country Manager for Germany, Sascha Rangoonwala, as Managing Director for EMEA.It is reported that last month Copper announced a strategic shift focusing on its custody, collateral, and settlement solutions as well as its rapidly growing over-the-counter trading and settlement network ClearLoop. (source link)

ChainCatcher news, according to CoinDesk, cryptocurrency custody company Copper stated that up to 15% of its employees may face layoffs. Copper currently has over 300 employees, and a spokesperson said the layoff process has just begun, and the company cannot provide an exact number of layoffs. (Source link)

ChainCatcher news, according to a report by CoinDesk citing sources, cryptocurrency custody company Copper has abandoned its enterprise business, specifically the company's software and infrastructure development division. Sources say the reason is that Copper's Clear Loop custody and settlement business is more economically viable in the future. Copper's enterprise division, which focuses on providing digital asset custody and infrastructure solutions for banks and funds, will face layoffs, and it is unclear how many people will be affected.It is reported that last December, Copper received an alert regarding security issues involving the company's GitHub repository, which contained blueprints on how the company protects customer assets. At that time, a source indicated that the company's entire codebase was vulnerable to attacks and could be downloaded. (source link)

ChainCatcher news, according to the Financial Times, former UK Chancellor of the Exchequer Philip Hammond announced that he will join the crypto asset custody company Copper as chairman.Philip Hammond stated that most of the funding for Copper's new round of financing is already in place, and this fundraising is expected to value the company at around $2 billion. He has been an advisor to the group since 2021 and holds a small stake in the company. Investors include venture capital and private equity as well as strategic investors like Barclays Bank.In addition, Philip Hammond warned that the UK is falling behind its EU competitors as a financial center for digital assets, and the UK needs to accelerate efforts to establish a more effective regulatory framework for digital assets. (Source link)