Anchorage Digital reportedly cuts 17% of workforce
Anchorage Digital cuts staff 17% as crypto pressure persists See how the federally chartered bank is balancing layoffs and expansion
Anchorage Digital, a federally chartered US digital asset bank, has reportedly reduced its workforce by 17% as the crypto market remains under pressure.
According to The Information, CEO Nathan McCauley told employees about the cuts this week. Based on Anchorage’s February headcount of about 400 people, the reduction could amount to roughly 68 jobs if staffing stayed near that level.
The layoffs come as Anchorage continues to expand its institutional business. The company has recently been involved in stablecoin issuance and earlier this year received a $100 million strategic investment from Tether. Anchorage has not publicly confirmed the reported cuts.