Anchorage Digital Cuts Jobs Amid Sector-Wide Cost Pressures

Anchorage Digital, a digital asset platform, has laid off about 17% of its workforce. The company cites cost pressures hitting the entire sector as the reason for the cuts.

The layoffs affect roughly one in six employees at Anchorage. No exact headcount has been provided by the company.

This is not the first time Anchorage has faced restructuring. In March 2023, the company cut approximately 75 employees, or about 20% of its staff at the time, as part of a strategic review that led to a sharper focus on institutional custody and regulated services.

Anchorage attributes the latest cuts to broader challenges facing crypto firms, not to any single event or business line. The company has maintained that client assets under custody had hit record levels even during the 2023 reductions.