Dmitry Tokarev to Transition from Copper CEO Role as Crypto Custody Firm Seeks Successor

Dmitry Tokarev, the founder and chief executive of cryptocurrency custody platform Copper, is moving away from his operational responsibilities at the firm. According to two sources familiar with the matter, Tokarev plans to step back from day-to-day leadership while transitioning into a strategic founder role. The institution-focused digital asset custodian is currently interviewing candidates to fill the chief executive position left by his departure.

Leadership Transition Underway at Custody Platform

Tokarev, who established Copper in 2018, will maintain substantial involvement in the company’s direction and remains a major shareholder despite assuming a different role. A representative from the firm declined to comment on the leadership changes, stating that Copper does not respond to market speculation or unconfirmed reports.

The move comes as the digital assets sector experiences a period of executive realignment. Copper’s board includes Philip Hammond, the former U.K. Chancellor, underlining the firm’s institutional standing. Tokarev himself completed his studies at Imperial College London, earning a degree in Risk Management and Financial Engineering—a background that shaped his approach to digital asset security.

Recent Executive Departures Signal Broader Industry Shifts

The custody platform has faced recent staff transitions beyond the CEO change. Last month, Boris Bohrer-Bilowitzki, a founding partner and chief commercial officer, departed to assume the CEO position at blockchain infrastructure firm Concordium. Concurrently, Mike Milner, who served as global head of revenue and had spent five years with Copper, also exited to join Concordium. These departures reflect the competitive talent landscape within institutional crypto platforms.

Founder Maintains Stake Despite New Role

Dmitry Tokarev’s transition represents a shifting pattern in fintech and digital assets leadership, where founders often move from operational roles to strategic positions. His decision to step aside while maintaining significant equity stake and involvement suggests continuity for Copper’s institutional clients who depend on stable custody and asset management services.

The broader crypto sector continues to experience leadership changes. Notable examples include Blockfills, the Chicago-based crypto lender that processed over $60 billion in trading volume during 2025, where co-founder Nicholas Hammer recently stepped down from the CEO position. Blockfills has been navigating operational challenges in the current market environment.

As Copper advances its search for a new chief executive, the firm’s institutional focus and established client base position it to attract experienced leadership capable of managing complex digital asset infrastructure at scale.