Copper, a crypto custody firm, allegedly hosted an event in London where sushi was served off two partially clad models, as reported by the Financial Times. Known as “The Copper Experience,” the private function took place at the upscale Mandrake Hotel in London’s Fitzrovia following the Digital Assets Summit 2024. According to the FT, a photo revealed a red-lacquered dining room where two individuals in minimal attire were positioned on a long table, with sushi served directly on their bodies. The after-party invitation promised attendees a multi-sensory experience. Despite requests for comment, Copper did not respond to inquiries from Cryptonews. A senior Copper employee noted that such a setup was not typical for their parties, stating, “Crypto is getting a lot more civilized, so that’s not really the style.”
Copper Pursues Swiss Registration Amid Regulatory Challenges in the UK
In response to regulatory hurdles encountered in the United Kingdom (UK), Copper, a prominent crypto custody firm, has opted to pursue registration in Switzerland. This strategic move comes against the backdrop of regulatory challenges and complexities faced by the company within the UK’s financial landscape.
An intriguing development in 2023 saw the appointment of former UK Chancellor Philip Hammond as the chairman of Copper. However, it’s worth noting that Hammond was reportedly not present at the contentious London event where sushi was served on partially-clad models, stirring controversy within the industry.
The decision to pursue registration in Switzerland follows Copper’s setback in the UK regulatory arena. In 2022, the company faced difficulties in obtaining approval from the UK’s financial regulatory authority, leading to the withdrawal of its application to operate within the country. This setback prompted Copper to pivot its focus towards Switzerland, known for its favorable regulatory environment and proactive stance towards cryptocurrency and blockchain technology.
By seeking registration in Switzerland, Copper aims to navigate the regulatory landscape more effectively and establish a solid foothold in a jurisdiction renowned for its crypto-friendly policies. This strategic move underscores the company’s commitment to overcoming regulatory challenges and expanding its operations in a conducive regulatory environment.
Concerns over the event are underscored by the industry’s male-dominated culture.
The situation surrounding the event is depicted by an insider close to the company as more resembling flamboyant performance art rather than anything salacious. Additionally, it was disclosed that the models involved were a man and a woman, both dressed in swimwear.
The practice of serving sushi off semi-clad bodies, known as nyotaimori, has garnered attention in Western countries as an exotic cultural experience inspired by Japanese traditions. However, this tradition remains on the fringes, even within Japan’s expansive erotic entertainment industry.
Despite occasional portrayals in media and popular culture, nyotaimori dinners are not widely adopted and are not considered commonplace in either Japan or Western societies.
The Financial Times highlighted concerns surrounding a prevalent culture of “crypto bros,” characterized by male dominance in major companies, as an ongoing issue. This culture has been associated with governance failures, exemplified by the collapses of exchanges like FTX.
Hosting a nyotaimori dinner, which could be perceived as potentially objectifying, may be seen as perpetuating this problematic culture and further spotlighting governance shortcomings within the industry.
