Crypto custody firm Copper apologizes for 'embarrassing' sushi event, launches review

Copper is launching an internal review after apologizing for an event at which sushi was served to guests from the bodies of models reportedly wearing thin bodysuits.

"We did not get this right," the firm said in a statement. "We recognize that certain aspects of the event have caused offense and do not reflect Copper's corporate values. We will be conducting an internal review of the existing process for approving events and sponsorship arrangements and the value of such events to the company going forward."

Copper is a crypto custody firm chaired by former UK chancellor Lord Philip Hammond. Founded in 2018, its clients are primarily hedge funds, trading houses and institutional investors. It has yet to gain regulatory approval from the Financial Conduct Authority.

The event was hosted at a five-star Mandrake hotel in London. The Financial Times reported earlier this week that the Copper-sponsored party was billed as allowing guests to "explore all five senses."

Copper reportedly claims a third party organized the event.

"Clearly, the story is embarrassing and, taken in the context presented, is not in line with our values as a company," the firm said.