Exclusive: Crypto Custodian Anchorage Digital Lays Off 17% Staff

Anchorage Digital, the first federally chartered U.S. digital-asset bank, has reduced its workforce by 17%. CEO Nathan McCauley informed employees of the cuts this week. The company, which provides crypto custody and issues stablecoins such as Tether’s USAT, is facing sector-wide cost pressures. These layoffs reflect the ongoing financial strain within the crypto sector, which may potentially impact market stability and innovation as firms struggle to manage operational expenses during this period of economic volatility.