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Anchorage Digital cuts roughly 17% of staff amid sector cost pressures

Institutional crypto bank Anchorage Digital has reportedly laid off about 17% of its workforce as the broader crypto sector grapples with ongoing financial strain.

Anchorage Digital logo with white text and diamond icon on a black background
Image: @TheBlockCo

Institutional crypto bank Anchorage Digital has reportedly cut roughly 17% of its workforce, according to a report from The Information. The firm provides custody, trading, and staking services to institutional investors.[2][1]

The layoffs highlight ongoing financial strain and cost pressures across the crypto sector. The workforce reductions also arrive as the $4.2 billion company has been expanding its institutional footprint, including initiatives in stablecoin issuance alongside a $100 million investment from Tether.[1][3]

Key facts

  • Anchorage Digital has reportedly laid off about 17% of its staff, according to The Information.
  • The company is valued at $4.2 billion.
  • Anchorage Digital offers custody, trading, and staking services to institutional investors.
  • The layoffs reflect ongoing financial strain and sector-wide cost pressures in crypto.
  • The cuts come as Anchorage expands its institutional offerings, including stablecoin issuance and securing a $100 million investment from Tether.

Sources · 3 sources

  1. CB

    Crypto BriefingArticle ·

    Anchorage Digital lays off about 17% of staff as sector-wide cost pressures bite Anchorage Digital's layoffs highlight ongoing financial strain in the crypto sector, potentially impacting innovation and market stability. The post Anchorage Digital lays off about 17% of staff as sector-wide cost pressures bite appeared first on Crypto Briefing .

    Open source
  2. TB

    The Block@TheBlockCoPost on X ·

    NEW: Institutional crypto bank Anchorage Digital has reportedly laid off roughly 17% of its staff, according to The Information. The firm provides custody, trading and staking services to institutional investors. https://t.co/VqMtfELEJO

    Open source
  3. CT

    Coin TelegraphArticle ·

    $4.2B crypto bank Anchorage Digital cuts 17% of workforce: Report The reported cuts come as Anchorage expands its institutional footprint, including stablecoin issuance and a $100 million investment from Tether.

    Open source