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

A cryptocurrency firm at the centre of a scandal involving guests eating sushi from semi naked models is to hold an urgent review into the event and 'embarrassing' fallout - and issued a grovelling apology.

Copper Technologies – which is chaired by former chancellor Philip Hammond – was thrown into the spotlight after photographs of the event that was a flashback to the City's debauched 80s heyday were leaked.

In them two models – a man and a woman wearing only thin body suits to protect their modesty - can be seen lying on a table while guests nibble at party food placed around them.

The event was held at The Mandrake Hotel in London earlier this month after Copper sponsored the Digital Assets Summit, and was an after show party for selected guests who had attended the conference.

In a lengthy statement Copper admitted the event was 'embarrassing' and that a review was being held into the party which they said was arranged by a 'third party event planner'. 

The image shows a group of men in the red-lacquered room at the five-star Mandrake hotel in central London, with a partially naked man and woman lying motionless on the table in front of them

The event was held at The Mandrake Hotel (pictured) in London earlier this month after Copper sponsored the Digital Assets Summit, and was an after show party for selected guests who had attended the conference

Pointedly ignoring the fact the models were surrounded by sushi they described them as 'performance artists' and added that other acts included a 'magician mentalist and palm reader'.

In the pictures – which were taken in a red-lacquered room at the five star Mandrake - a board has been placed on their stomachs and a pillow under their heads.

Mr Hammond did not attend the event and semi naked sushi is also known as Nyotaimori and has been blasted as degrading and objectifying.

In their statement Copper said: 'As you will have seen, today, various members of the media community published an article about an event that Copper sponsored at the Mandrake Hotel last week.

The event played out in the hotel's 20-seater private dining room with the background of a huge champagne fridge. The hotel says the room is 'Ideal for private gatherings, meetings, private dinners and events' 

Guests queue for The Mandrake Hotel launch in September 2017 in London

The former Chancellor of the Exchequer Lord Hammond, did not attend the private event held by Copper, a company which stores digital assets for its customers

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

'We have always held ourselves to high ethical standards and look to champion the benefits of tokenisation and digital assets.

'The context of the event is important. As part of our sponsorship of the Digital Assets Summit 2024, we jointly hosted this afterparty at the Mandrake Hotel with a partner in the digital asset space.

'The event was organised by a third-party event planner and incorporated a number of performance artists.

'This included a magician, mentalist, palm reader and another performance that featured both a male and female artist, each lying on a table in swimming costumes.

'The Mandrake Hotel was chosen as it is an art-themed establishment, owned by famous art collector Rami Fatouk, with a long history of presenting such events.

'The event was open to all delegates as part of the conference with the intention of creating an artistic expression that was fitting for the location.

'Notwithstanding the above, we recognise that certain aspects of the event have caused offence 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.

'The senior leadership team at Copper is reaching out proactively to key clients, partners, investors and regulators.

'We did not get this right and we regret any distraction that this may have caused to our wider mission of supplying world-class digital asset custody and prime services to institutional investors.'

An invitation for the party seen by the Financial Times said:' Transcend the ordinary at the Copper experience. Attendees will be able to entertain and explore all five senses.'

The Mandrake declined to comment when contacted.