USDT
+0.0%Anchorage Digital cuts 17% of staff amid crypto market downturn
Image: CointelegraphAnchorage Digital, a $4.2 billion federally chartered US digital asset bank, reportedly cut 17% of its workforce this week. CEO Nathan McCauley informed employees of the reduction, which would equal roughly 68 roles if headcount remained at the ~400 level reported in February. The cuts come amid a prolonged crypto market downturn, even as Anchorage expands its institutional footprint including stablecoin issuance and holds a $100 million Tether investment.
Key points
- Anchorage Digital reportedly cut 17% of its global workforce this week.
- The reduction would amount to roughly 68 roles if headcount stayed at the ~400 level reported in February.
- Anchorage received a $100 million strategic investment from Tether earlier this year.
- The workforce cuts come amid a prolonged downturn in crypto markets.
Why it matters
The layoffs at a major federally chartered crypto custodian highlight ongoing pressure on crypto firms from the prolonged market downturn, even as Anchorage expands its regulated stablecoin and institutional service offerings.
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Sources · 3 publishers
Cointelegraph
Tier 1
$4.2B crypto bank Anchorage Digital cuts 17% of workforce: Report
Crypto.news
Tier 2
Anchorage Digital reportedly cuts 17% of staff amid crypto downturn
Coverage timeline
- First reported by Crypto Briefing
- Confirmed by Cointelegraph
- CryptoVideos brief published
How this brief was made. Our system found this event in 3 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
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