Anchorage Digital Cuts 17% of Workforce Amid Crypto Market Downturn

Anchorage Digital, a US-based federally chartered digital asset bank valued at $4.2 billion earlier this year, has reportedly cut 17% of its workforce.

Citing people familiar with the matter, The Information reported that CEO Nathan McCauley informed employees of the cuts this week.

The reduction is roughly equivalent to about 68 jobs, based on Anchorage's estimated global headcount of around 400 as of February.

This move comes as crypto markets have struggled over the past year, with Bitcoin briefly recovering above $87,000 on Friday but remaining well below its peak of $126,000 reached in October.