Anchorage Digital crypto bank cuts 17% of workforce

crypto bank cuts — Anchorage Digital, a federally chartered U.S. digital asset bank, has reportedly cut 17% of its staff, a move linked to the prolonged crypto market downturn.

The Information reported that CEO Nathan McCauley informed employees of the layoffs this week. Anchorage had approximately 400 employees as of February, which suggests the reduction affected about 68 people.

The workforce reduction occurs as the broader crypto market continues to struggle below previous highs, despite some recent recovery. Bitcoin remains far below its peak value of $126,000 from October 2025.

Anchorage Digital, valued at $4.2 billion earlier this year, has simultaneously expanded its institutional operations. The firm has moved into stablecoin issuance and received a $100 million strategic investment from Tether.