[Former UK Chancellor Steps Down as Chairman of Crypto Custody Firm Copper] According to a report by Financial News on April 10, former UK Chancellor Philip Hammond has stepped down from his role as Chairman of the crypto custody firm Copper. He will be succeeded by former Flow Traders CEO Mike Kuehnel. This leadership change comes as Copper shifts its business focus to the United States and seeks regulatory approval there, with preliminary discussions about a potential IPO already underway. After failing to secure UK registration in December 2024, the company obtained a license in Switzerland instead. Its latest financial report reveals a $40 million loss in its UK operations. Additionally, former BNY executive John Meserve will join the board as a non-executive director.