Ex-UK chancellor joins Copper as chair, says Copper closes new funding round at $2 billion valuation

Former British Chancellor of the Exchequer Philip Hammond has announced that he will join crypto asset custody firm Copper as chairman, the Financial Times reported. Most of the funding for Copper’s new round of financing, which is expected to value the company at around $2 billion, has already been secured, said Philip Hammond, who has served as an advisor to the group since 2021 and holds a small stake in the company. shares. Investors include venture capital and private equity as well as strategic investors such as Barclays. In addition, Philip Hammond warned that the UK as a financial center for digital assets is lagging behind EU competitors, and that the UK needs to step up its pace and establish a more effective regulatory framework for digital assets.