Anchorage Digital, the U.S. digital asset bank, has reportedly laid off about 17% of its workforce, according to Cointelegraph, as cited by Odaily. Based on the company’s headcount of about 400 employees in February this year, the reduction would affect roughly 68 roles if staffing remained at a similar level. CEO Nathan McCauley informed employees of the layoffs this week. The reported cuts come after Anchorage Digital was valued at $4.2 billion earlier this year. In recent years, the company has expanded its regulated crypto business and moved into stablecoin issuance. That includes participation in Tether’s newly launched U.S. dollar stablecoin, USAT. Earlier this year, Anchorage Digital also received a $100 million strategic investment from Tether. The report did not disclose further details on the layoffs beyond the percentage cut and the internal notification by management.
Anchorage Digital, the U.S. digital asset bank, has reportedly cut about 17% of its workforce, according to Cointelegraph, as cited by Odaily.
The company was valued at $4.2 billion earlier this year. If its global headcount has remained near the roughly 400 employees reported in February, the layoffs would affect about 68 positions.
CEO Nathan McCauley told employees about the layoff plan this week.
Anchorage Digital has spent recent years expanding its regulated crypto business and has also entered stablecoin issuance, including participation in Tether’s newly launched U.S. dollar stablecoin, USAT. Earlier this year, the company also received a $100 million strategic investment from Tether.
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