Dmitry Tokarev Preparing Major Leadership Transition at Custody Powerhouse Copper

The founder of institutional-grade digital asset custody platform Copper, Dmitry Tokarev, is preparing to step back from day-to-day operational duties and vacate his chief executive position. The London-based firm, chaired by former U.K. Chancellor Philip Hammond, has initiated a formal search for Tokarev’s replacement, according to sources close to the matter. Despite the leadership change, Dmitry Tokarev is expected to remain deeply engaged with the business through a new founder-focused mandate and will retain his significant equity stake in the company.

Reshuffling at the Top of Institutional Finance

Tokarev founded Copper back in 2018 and has stewarded it through the complex landscape of institutional digital asset management. The CEO’s educational background—a degree in Risk Management and Financial Engineering from Imperial College London—has shaped the company’s sophisticated approach to custody and asset protection. While an official company spokesperson declined to elaborate on specifics, stating “we do not comment on market rumours or speculation,” the timing of this transition reflects broader organizational evolution within the sector.

Executive Departures Signal Industry-Wide Mobility

The leadership transition comes amid a notable wave of senior-level movements across blockchain and crypto finance. Last month, founding partner and chief commercial officer Boris Bohrer-Bilowitzki departed to assume the CEO role at blockchain infrastructure firm Concordium. Alongside him, Mike Milner—who had served as global head of revenue for five years—also left to join Concordium’s leadership team. These exits underscore how cryptocurrency-focused talent is increasingly mobile, with professionals seeking opportunities in emerging blockchain platforms.

Market Dynamics Reshaping Institutional Layer

The reshuffling within Copper reflects a broader market environment characterized by institutional repositioning. As the digital asset industry matures, leadership transitions and personnel movements have become more frequent, signaling both the competitive nature of acquiring top talent and the strategic shifts companies are making in response to market conditions. Dmitry Tokarev’s move to a founder role while remaining a stakeholder represents a strategic evolution common in scaling institutional platforms—allowing operational expertise to pass to dedicated management while preserving founder involvement at the strategic level.