Copper, the crypto custody firm, is asking $500 million for a sale, but the offers coming in are well below that. The company, once valued at $2.5 billion, is being marketed by Cantor Fitzgerald, which started the process in May.
The $500 million ask
In May of this year, Cantor Fitzgerald put Copper up for sale with a $500 million price tag. Months later, the bids have rolled in, and they're not close. Offers for Copper are way below the $500 million asking price.
From $2.5 billion to a fraction
Copper was once valued at $2.5 billion. The current asking price of $500 million already represents a steep drop, but the offers on the table are even further behind. That spread tells the story of a market that doesn't share the seller's view of the firm's worth.
Where the sale stands
The sale process is still active, with no announced deadline. The question now is whether the sellers will bend on price or wait for a bid that matches the ask. For now, the gap remains wide.
