PANews reported on May 21 that, according to CoinDesk, sources familiar with the matter revealed that cryptocurrency custody company Copper is seeking to sell the company for $500 million. Wall Street investment bank Cantor Fitzgerald has been appointed to assist with the sale. Copper's core asset is the ClearLoop settlement system, which allows network participants to complete delivery versus payment (D/C) transactions within custody, eliminating settlement risk by removing assets from the blockchain. Copper shut down its corporate custody business in 2023 to focus on ClearLoop, serving numerous institutional clients. Copper considered an IPO earlier this year, but the crypto IPO market has been stagnant this year with Bitcoin trading below $80,000 and artificial intelligence absorbing most of the capital.