Former UK Chancellor of the Exchequer steps down as Chairman of Copper

On April 10th, former UK Chancellor of the Exchequer Philip Hammond stepped down as chairman of crypto custodian Copper and was succeeded by former Flow Traders CEO Mike Kuehnel. Copper is shifting its business focus to the United States and seeking regulation, while also initiating preliminary discussions on a potential IPO. The company obtained a Swiss license after failing to apply for UK registration in December 2024. The latest financial report shows a loss of $40 million in the UK business, and former BNY executive John Meserve will join the board as a non-executive director.