Crypto Custodian Copper Gets ~$200M Takeover Bid, Below $500M Asking

The gap between a reported $200 million offer and a $500 million target says more about how crypto infrastructure is being repriced than about Copper specifically. Custody and settlement providers sit at the institutional plumbing layer, so a discounted bid signals that buyers are valuing resilience and client stickiness over growth narratives. For firms in the same segment, this sets a comparable that could shape future fundraising and consolidation talks. Whether the discussion advances at all, or whether other suitors emerge at a different level, is the open question worth watching.