The former chancellor Philip Hammond could see the value of his stake in the cryptocurrency firm Copper plunge after the company suffered a blow to its hopes of winning approval to operate in the UK, forcing it to explore a move to Switzerland.
The Guardian understands that Hammond, recruited by Copper Technologies as a “senior adviser” in 2021, has “growth shares” that could be worth up to 0.5% of the company, implying a notional value of $15m after its most recent fundraising round valued it at $3bn.
