$4.2B crypto bank Anchorage Digital cuts 17% of workforce: Report
Summary
Anchorage Digital, a federally chartered US digital asset bank valued at $4.2 billion earlier this year, has reportedly cut 17% of its workforce, or about 68 jobs if headcount stayed near 400. CEO Nathan McCauley allegedly informed employees this week. The cuts appear tied to the prolonged crypto downturn, even as Anchorage continues expanding its institutional business. The company was the first crypto firm to receive a national trust charter from the OCC in 2021 and has become a major crypto custodian. It has also moved into stablecoin issuance, including Tether’s new US stablecoin USAT, and earlier this year received a $100 million strategic investment from Tether.
