According to a report from the Financial Times, crypto custody firm Copper hosted a private party in London called “The Copper Experience” last week. The event took place at the upscale Mandrake Hotel in Fitzrovia, following the Digital Assets Summit 2024.

The report stated that the party featured a red-lacquered dining room, where two individuals in minimal attire were positioned on a long table. Sushi was reportedly served directly on their bodies. An image obtained by the Financial Times depicted this scene.

The invitation to the after-party promised attendees a multi-sensory experience, stating that they would be able to entertain and explore all five senses.

Copper did not respond to requests for comment from Cryptonews or the Financial Times at the time of the report.

A senior employee of Copper, however, mentioned to the Financial Times that such a party setup with scantily clad individuals was not typical for the company. They added that the crypto industry is becoming more civilized, indicating that this style of event is not in line with the company’s usual approach.

It is worth noting that events and parties within the crypto industry can vary widely in nature and style. While some gatherings may aim to create unique and memorable experiences, others focus more on business networking and professional discussions. The reported event hosted by Copper appears to have garnered attention due to its unconventional approach.

UK Regulatory Challenges Drive Copper to Seek Swiss Registration

Copper is a company that specializes in providing digital asset custody and trading services specifically designed for institutional investors. Their offerings include a scalable settlement network, custody-integrated staking, and automated wallet services.

In 2023, Copper made headlines by appointing former UK Chancellor Philip Hammond as its chairman. However, it is important to note that he was reportedly not present at the controversial event mentioned earlier.

Copper faced challenges in obtaining approval from the financial regulatory authority in the UK, and as a result, the company withdrew its application to operate in the country in 2022. Instead, Copper shifted its focus towards obtaining registration in Switzerland, where it aimed to continue its operations.

Navigating the regulatory landscape is a significant aspect for companies operating in the cryptocurrency and digital asset industry. The decision by Copper to withdraw its application in the UK and pursue registration in Switzerland suggests a strategic shift aimed at establishing a regulatory-compliant presence in a jurisdiction that may be more supportive of their business activities.

Concerns Arise Over Male-Dominated Culture in the Industry, Highlighted by Recent Event

An insider close to the company has provided further context, describing the situation as more akin to flamboyant performance art rather than anything salacious. They also revealed that the models involved were a man and a woman, both dressed in swimwear.

It is worth noting that the practice of serving sushi off semi-clad bodies, known as nyotaimori, has gained attention in Western countries as an exotic cultural experience inspired by Japanese traditions. However, it remains a fringe practice, even within Japan’s expansive erotic entertainment industry, and is not widely adopted or considered commonplace in either Japan or Western societies.

The Financial Times (FT) article highlighted concerns about a prevalent culture of “crypto bros” within the cryptocurrency industry, characterized by male dominance in major companies. This culture has been associated with governance failures, as exemplified by the collapse of exchanges like FTX.

In this context, hosting a nyotaimori dinner, which may be seen as potentially objectifying, can be viewed as perpetuating this problematic culture and further highlighting governance shortcomings within the industry.

It is important to consider the broader implications and perceptions surrounding such events, particularly in an industry where diversity and inclusivity are significant concerns. The incident raises questions about the appropriateness of certain practices and their alignment with the values and goals of the crypto industry as it strives to mature and establish itself as a reputable and inclusive space.

According to a report from the Financial Times, crypto custody firm Copper hosted a private party in London called “The Copper Experience” last week. The event took place at the upscale Mandrake Hotel in Fitzrovia, following the Digital Assets Summit 2024.

The report stated that the party featured a red-lacquered dining room, where two individuals in minimal attire were positioned on a long table. Sushi was reportedly served directly on their bodies. An image obtained by the Financial Times depicted this scene.

The invitation to the after-party promised attendees a multi-sensory experience, stating that they would be able to entertain and explore all five senses.

Copper did not respond to requests for comment from Cryptonews or the Financial Times at the time of the report.

A senior employee of Copper, however, mentioned to the Financial Times that such a party setup with scantily clad individuals was not typical for the company. They added that the crypto industry is becoming more civilized, indicating that this style of event is not in line with the company’s usual approach.

It is worth noting that events and parties within the crypto industry can vary widely in nature and style. While some gatherings may aim to create unique and memorable experiences, others focus more on business networking and professional discussions. The reported event hosted by Copper appears to have garnered attention due to its unconventional approach.

UK Regulatory Challenges Drive Copper to Seek Swiss Registration

Copper is a company that specializes in providing digital asset custody and trading services specifically designed for institutional investors. Their offerings include a scalable settlement network, custody-integrated staking, and automated wallet services.

In 2023, Copper made headlines by appointing former UK Chancellor Philip Hammond as its chairman. However, it is important to note that he was reportedly not present at the controversial event mentioned earlier.

Copper faced challenges in obtaining approval from the financial regulatory authority in the UK, and as a result, the company withdrew its application to operate in the country in 2022. Instead, Copper shifted its focus towards obtaining registration in Switzerland, where it aimed to continue its operations.

Navigating the regulatory landscape is a significant aspect for companies operating in the cryptocurrency and digital asset industry. The decision by Copper to withdraw its application in the UK and pursue registration in Switzerland suggests a strategic shift aimed at establishing a regulatory-compliant presence in a jurisdiction that may be more supportive of their business activities.

Concerns Arise Over Male-Dominated Culture in the Industry, Highlighted by Recent Event

An insider close to the company has provided further context, describing the situation as more akin to flamboyant performance art rather than anything salacious. They also revealed that the models involved were a man and a woman, both dressed in swimwear.

It is worth noting that the practice of serving sushi off semi-clad bodies, known as nyotaimori, has gained attention in Western countries as an exotic cultural experience inspired by Japanese traditions. However, it remains a fringe practice, even within Japan’s expansive erotic entertainment industry, and is not widely adopted or considered commonplace in either Japan or Western societies.

The Financial Times (FT) article highlighted concerns about a prevalent culture of “crypto bros” within the cryptocurrency industry, characterized by male dominance in major companies. This culture has been associated with governance failures, as exemplified by the collapse of exchanges like FTX.

In this context, hosting a nyotaimori dinner, which may be seen as potentially objectifying, can be viewed as perpetuating this problematic culture and further highlighting governance shortcomings within the industry.

It is important to consider the broader implications and perceptions surrounding such events, particularly in an industry where diversity and inclusivity are significant concerns. The incident raises questions about the appropriateness of certain practices and their alignment with the values and goals of the crypto industry as it strives to mature and establish itself as a reputable and inclusive space.

By ailf

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