Sources: Encryption hosting company Copper ditches its software and infrastructure development business

BlockBeats, March 16, UK cryptocurrency custodian company Copper is abandoning its enterprise business, the company's software and infrastructure development division, according to CoinDesk, citing sources. The reason, the sources said, is that Copper's Clear Loop hosting and clearing business makes more economic sense going forward. Copper's enterprise division, which focuses on digital asset custody and infrastructure solutions for banks and funds, will face job cuts and it is unclear how many will be affected. Copper had previously been alerted in December 2022 to a security issue involving the company's GitHub repository, which contained blueprints of how the company would protect customer assets. A source at the time said the company's entire code base was vulnerable to being hacked and downloaded.