Anchorage Digital Cuts 17% of Staff as Crypto Winter Bites $4.2B Bank

Anchorage Digital, the federally chartered US digital asset bank valued at $4.2 billion, has reportedly eliminated 17% of its workforce in a move that signals deepening strain across the crypto industry. According to The Information, CEO Nathan McCauley informed employees of the layoffs this week, cutting roughly 68 jobs based on the company's headcount of approximately 400 as of February 2025, a figure McCauley disclosed during congressional testimony. Cointelegraph reached out to Anchorage's PR representatives but had not received a response at press time.

The layoffs arrive against a backdrop of a prolonged crypto market downturn. Bitcoin briefly recovered above $87,000 on Friday but remains far below its $126,000 all-time high reached in October 2025, reflecting the broader chill sweeping through digital asset markets. Despite the headcount reduction, Anchorage has continued to expand its institutional footprint, most notably through its stablecoin issuance operations and a $100 million strategic investment from Tether earlier this year. The bank is also a key issuer partner for Tether's newly launched USAT stablecoin.

Founded as the first crypto firm to receive a national trust charter from the Office of the Comptroller of the Currency in 2021, Anchorage has grown into one of the most prominent institutional custodians in the US regulated crypto sector. However, its latest workforce reduction underscores a widening gap between infrastructure investment and revenue performance that is affecting even well-capitalized digital asset firms. The cuts position Anchorage among a growing list of crypto companies that have trimmed staff in 2026 as institutional appetite for digital assets cools.