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Anchorage Digital Cuts Staff Amid Weaker Crypto Market Conditions

Guavy AI Editorial Team
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Anchorage Digital is implementing significant workforce cuts in response to weaker crypto market conditions.

The company, valued at $4.2 billion after a recent investment by Tether, will reduce its staff by around 17%, affecting about 68 jobs out of its reported 400 employees.

Anchorage CEO Nathan McCauley informed employees about the layoffs this week, attributing them to market conditions rather than lost clients or regulatory issues.

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