$4.2B crypto bank Anchorage Digital cuts 17% of workforce: Report
60-second summary
Anchorage Digital slashes 17% of its staff, cutting roughly 200 jobs, while simultaneously expanding its institutional services, launching stablecoin issuance and securing a $100 million investment from Tether; the layoffs reflect cost‑optimization amid rapid growth, and the new funding bolsters Anchorage’s market position, likely enhancing its competitive edge in the crypto‑banking sector.
The reported cuts come as Anchorage expands its institutional footprint, including stablecoin issuance and a $100 million investment from Tether.