Crypto Custody Firm Copper’s CEO Dmitry Tokarev Plans to Step Down

• Copper is interviewing candidates to replace CEO Dmitry Tokarev, who is stepping aside to assume a founder's role at the company.
• Last month, executives Boris Bohrer-Bilowitzki and Mike Milner left to join blockchain firm Concordium.

The CEO of cryptocurrency custody firm Copper, Dmitry Tokarev, is planning to step back from the day-to-day running of the firm and to resign as CEO, according to two people familiar with the situation.

The digital assets custodian, which counts the former U.K. Chancellor Philip Hammond as its chairman, is interviewing for a replacement, one of the people said.

Tokarev, who helped found the company in 2018, will still be heavily involved in the business, the person said. He remains a significant shareholder.

"We do not comment on market rumours or speculation," a Copper spokesperson said in emailed comments.

There have been other executive departures of late. Last month, founding partner and chief commercial officer Boris Bohrer-Bilowitzki left to take on the role of CEO at blockchain firm Concordium. Mike Milner, the global head of revenue who had been with the company for five years, also left to join Concordium.

Tokarev has been at the helm of Copper since the institution-focused digital asset storage firm’s inception. He graduated from Imperial College, London with a degree in Risk Management and Financial Engineering.