Anchorage Digital Slashes Workforce Amid Crypto Downturn

Anchorage Digital has cut 17% of its workforce in response to the prolonged crypto downturn, according to reports. The company's CEO, Nathan McCauley, informed employees about the layoffs this week.

The reported reduction would equal around 68 jobs if February's headcount remained unchanged at approximately 400 employees globally.

Anchorage Digital received a $4.2 billion valuation earlier this year and secured a $100 million Tether investment in February, which followed the launch of USAT, its U.S.-focused stablecoin.