Crypto custody firm Copper apologizes for 'embarrassing' sushi event

Crypto custody firm Copper apologizes for 'embarrassing' sushi event, launches review

Companies • March 28, 2024, 9:18AM EDT

Published 1 minute earlier on

UPDATED: March 28, 2024, 9:24AM EDT

Quick Take

Copper is launching an internal review after apologizing for an event it claims did not align with its corporate values.
At the event, sushi was served off the bodies of scantily-clad models.

Copper is launching an internal review after apologizing for an event at which sushi was served to guests from the bodies of models reportedly wearing thin bodysuits.

"We did not get this right," the firm said in a statement. "We recognize that certain aspects of the event have caused offense and do not reflect Copper's corporate values. We will be conducting an internal review of the existing process for approving events and sponsorship arrangements and the value of such events to the company going forward."

Copper is a crypto custody firm chaired by former UK chancellor Lord Philip Hammond. Founded in 2018, its clients are primarily hedge funds, trading houses and institutional investors. It has yet to gain regulatory approval from the Financial Conduct Authority.

The event was hosted at a five-star Mandrake hotel in London. The Financial Times reported earlier this week that the Copper-sponsored party was billed as allowing guests to "explore all five senses."

Copper reportedly claims a third party organized the event.

"Clearly, the story is embarrassing and, taken in the context presented, is not in line with our values as a company," the firm said.

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Adam is the managing editor for Europe, the Middle East and Africa. He is based in central Europe and was a managing editor and podcast host at the crypto exchange OKX's former research arm, OKX Insights. Before that, he co-founded BeInCrypto.com, which he elevated into one of the leading crypto media brands at its peak as the editor-in-chief. Earlier, he served as the editor-in-chief at Bitcoinist.com. Before joining the blockchain and crypto industry, he worked for Looper.com, Grunge.com and SVG.com. He tweets via @XBT002 and can be emailed at [email protected].