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10/03/2026

Anchorage Digital Cuts 17% of Workforce Amid Expansion

What happened: Anchorage Digital, a crypto bank valued at $4.

Anchorage Digital Cuts 17% of Workforce Amid Expansion

What happened: Anchorage Digital, a crypto bank valued at $4.2 billion, laid off 17% of its staff—approximately 68 employees—this week. The move follows a $100 million strategic investment from Tether and expansion into stablecoin issuance, including Tether’s USAT and Western Union’s USDPT. Anchorage holds an OCC national trust charter and previously cut 20% of staff in 2023.

Why it matters: The layoffs come despite Anchorage’s growing institutional footprint, suggesting a focus on operational efficiency rather than existential distress. With bitcoin trading well below its $126,000 October 2025 peak, the move may reflect broader cost pressures in the digital asset sector. The cuts also highlight the ongoing challenge for crypto banks to balance growth initiatives with sustainable staffing levels.

Source: Cointelegraph