Philip Hammond, former UK Chancellor of the Exchequer, has resigned as Chairman of cryptocurrency custodian Copper, effective April 10. He is succeeded by Mike Kuehnel, former CEO of Flow Traders. Copper is refocusing its efforts on the U.S. market and is in the process of seeking regulatory approval there, alongside exploring a potential IPO. The company, which failed to secure UK registration in December 2024, has since obtained a Swiss license. Copper's latest financial report disclosed a $40 million loss in its UK operations. Additionally, John Meserve, a former BNY executive, will join Copper's board as a non-executive director.