Cryptocurrency firm apologises after hosting party where guests ate sushi from semi-naked models in flashback to City’s debauched 80s heyday

A cryptocurrency company at the center of a scandal involving guests eating sushi from half-naked models is to conduct an urgent review of the event and its “shameful” consequences, and issued a humiliating apology.

Copper Technologies, chaired by former chancellor Philip Hammond, was thrust into the spotlight after photographs leaked of the event which was a flashback to the city’s heyday of debauchery in the 1980s.

In them you can see two models, a man and a woman dressed only in fine suits to protect their modesty, lying on a table while guests nibble on the party food placed around them.

The event was held at London’s Mandrake Hotel earlier this month, after Copper sponsored the Digital Asset Summit, and was an after-show party for select guests attending the conference.

In a lengthy statement, Copper admitted that the event was “embarrassing” and that a review was underway into the party which they said was organized by an “outside event planner.”

Deliberately ignoring the fact that the models were surrounded by sushi, they described them as “performance artists” and added that other acts included a “mentalist and palmist magician.”

In the images, taken in a red lacquered room at the five-star Mandrake hotel, a board is placed on their stomach and a pillow is placed under their head.

Hammond did not attend the event and half-naked sushi is also known as Nyotaimori and has been criticized for being degrading and objectifying.

In his statement, Copper said: ‘As you may have seen, today, several members of the media community published an article about an event Copper sponsored at the Mandrake Hotel last week.

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

‘We have always adhered to high ethical standards and seek to defend the benefits of tokenization and digital assets.

‘The context of the event is important. As part of our sponsorship of the Digital Asset Summit 2024, we co-hosted this after-party at the Mandrake Hotel with a partner in the digital asset space.

‘The event was organized by an external event planner and incorporated several entertainers.

‘This included a magician, a mentalist, a palm reader and another performance featuring a male and female performer, each lying on a table in their bathing suits.

‘The Mandrake Hotel was chosen because it is an art-themed establishment, owned by famous art collector Rami Fatouk, with a long history of presenting these types of events.

‘The event was open to all delegates as part of the conference with the intention of creating an artistic expression that was appropriate for the venue.

‘Notwithstanding the foregoing, we recognize that certain aspects of the event have offended and do not reflect Copper’s corporate values.

‘We will carry out an internal review of the existing process for approving events and sponsorship deals and the value of such events to the business in the future.

‘Copper’s senior leadership team is proactively reaching out to key customers, partners, investors and regulators.

“We did not get it right and we regret any distraction this may have caused to our broader mission of providing world-class digital asset custody and top-notch services to institutional investors.”

An invitation to the party seen by the Financial Times read: “Transcend the ordinary at the Copper experience.” Attendees will be able to entertain themselves and explore the five senses.’

The Mandrake declined to comment when contacted.