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Anchorage Digital cuts 17% of workforce amid crypto downturn

The Information said CEO Nathan McCauley told employees about the cuts this week, after the bank had about 400 staff globally as of February.

Reported · Written up by our desk · Market Structure

Anchorage Digital, a federally chartered US digital asset bank valued at $4.2 billion earlier this year, has reportedly cut 17% of its workforce, pointing to pressure from the prolonged crypto market downturn, according to The Information.

The outlet reported that CEO Nathan McCauley informed employees of the cuts this week, citing people familiar with the matter.

Anchorage has also been expanding its institutional footprint, including stablecoin issuance and a $100 million investment from Tether, while its global headcount was about 400 employees as of February based on McCauley’s earlier congressional testimony.

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