Anchorage Digital Layoffs Cuts 17% of Staff as Crypto Winter Persists

Anchorage Digital trims workforce by 17%

Anchorage Digital, a federally chartered US digital asset bank valued at $4.2 billion earlier this year, has reportedly laid off 17% of its employees. The cuts were announced this week by CEO Nathan McCauley, according to a report by The Information on Friday. Anchorage had approximately 400 employees globally as of February, based on McCauley's own congressional testimony. If that headcount held steady, the 17% reduction would affect roughly 68 workers. Cointelegraph contacted Anchorage for comment but did not receive an immediate response.

Key figures

• Workforce reduction: 17%
• Estimated jobs cut: approximately 68
• Company valuation: $4.2 billion (as of earlier this year)
• Tether strategic investment received earlier this year: $100 million
• Employee count (February): about 400 globally

Expansion amid layoffs

The staff cuts come at a time when Anchorage has been broadening its presence in the regulated US crypto sector. The company became the first crypto business to receive a national trust charter from the Office of the Comptroller of the Currency in 2021 and has grown into one of the larger crypto custodians. More recently, Anchorage has moved into stablecoin issuance, which are digital tokens pegged to a stable asset like the US dollar. The company is involved with Tether's new regulated stablecoin called USAT and received a $100 million strategic investment from Tether earlier this year.

Crypto market pressures

The report cited a prolonged downturn in crypto markets as a factor behind the layoffs. Bitcoin has struggled over the past year, recently recovering to around $84,500 but remaining well below its $126,000 peak reached in October 2025.

What remains unclear

Anchorage Digital has not publicly confirmed the layoffs. Cointelegraph's request for comment received no response as of publication.

Why this matters

The layoffs highlight how even well-capitalized, institutionally focused crypto companies are feeling pressure from the extended market downturn. Anchorage's ability to grow its regulated business lines — including a major investment from Tether and expansion into stablecoins — contrasts with the internal cost-cutting, suggesting the company is balancing long-term positioning against near-term financial strain.

Sources

• Cointelegraph
• The Information