Dmitry Tokarev Transitions from Copper CEO Role to Founder Position

The leadership landscape at Copper, a major cryptocurrency custody and digital asset storage platform, is undergoing significant change. Dmitry Tokarev, who founded the company in 2018, is preparing to step back from day-to-day operational responsibilities and vacate the CEO position. According to sources with knowledge of the situation, Copper is actively recruiting a successor to lead the institution-focused firm while Dmitry Tokarev shifts his focus to a founder-level strategic role within the organization.

Despite the leadership transition, Dmitry Tokarev will maintain substantial involvement in the company’s direction and remains a major shareholder. A Copper spokesperson addressed the developments with a measured statement: “We do not comment on market rumours or speculation,” declining to elaborate on the ongoing recruitment process.

Leadership Transition at Copper’s Executive Level

The move represents a significant evolution for the digital asset custody firm, which operates under the chairmanship of Philip Hammond, the former U.K. Chancellor. Dmitry Tokarev, a graduate of Imperial College London with a background in Risk Management and Financial Engineering, has steered Copper through its development as a preferred custodian for institutional clients. His transition from the chief executive role to a founder position suggests the company is maturing beyond its founding phase while leveraging Dmitry Tokarev’s vision and expertise in a strategic capacity.

Copper’s recruiting efforts come at a time when the company seeks to strengthen its executive team with fresh leadership focused on operational and strategic expansion. The timing underscores the firm’s confidence in its market position and growth trajectory within the competitive custody sector.

Recent Executive Movements Across the Crypto Industry

Copper is not alone in experiencing significant personnel changes. Last month, Boris Bohrer-Bilowitzki, a founding partner and the chief commercial officer of Copper, departed to assume the CEO role at Concordium, a blockchain infrastructure firm. Mike Milner, who served as the global head of revenue and had spent five years with the custody provider, also transitioned to Concordium alongside Bohrer-Bilowitzki.

These departures highlight a broader trend of executive movement and reorganization within the cryptocurrency sector. Industry professionals are actively pursuing opportunities across different segments of the digital asset ecosystem, reflecting the dynamic and evolving nature of the market.

Related Industry Developments

The executive reshuffling extends beyond Copper. Nicholas Hammer, co-founder of Blockfills, a Chicago-based crypto lender, recently stepped down from the CEO position. The platform, which processed over $60 billion in trading volume in 2025, encountered operational challenges during market volatility, with some clients reportedly encouraged to withdraw assets before the firm suspended deposit and withdrawal operations on February 11. Blockfills is currently exploring strategic alternatives, including finding a potential buyer to navigate these challenging circumstances.

These interconnected changes across leading crypto platforms and custodians underscore the sector’s ongoing evolution and the adjustments required as the industry matures and addresses various operational and market challenges. The repositioning of leaders like Dmitry Tokarev reflects both personal career transitions and organizational adaptations within digital asset firms.