Anchorage Digital Cuts 17% of Workforce

Anchorage Digital, the first federally chartered US digital asset bank, laid off 17% of its staff this week, according to Cointelegraph reporting sourced to The Information. Chief Executive Nathan McCauley told employees about the cuts, which the outlet attributed to a year-long crypto market slump. Based on McCauley's congressional testimony in February 2025, the global workforce stood at about 400 people at that time. A 17% reduction would affect approximately 68 jobs. Cointelegraph noted that Anchorage has not publicly commented on the reduction. This is the second major workforce contraction at the company. Anchorage cut 20% of its staff in 2023, a decision McCauley attributed to being cut off from banking services. The 2026 layoff arrives despite regulatory approvals and institutional inflows that suggest stability: Anchorage is not alone in cutting headcount. The sector has contracted sharply over the past year. Gemini trimmed about 30% of its workforce. Crypto.com cut 12% in March. Coinbase announced it would eliminate about 700 roles, or 14% of staff, in May. Dune laid off 25% of its team in May to focus on AI agents and institutional data. Exchange Luno trimmed 20% in July. Bitwise cut about 14% in August. BitMEX, the Lisk blockchain, and Ethereum layer-2 network Blast announced complete shutdowns. The cuts extend beyond crypto. US tech firms announced 10,799 cuts in September, up 77% from August according to Challenger, Gray & Christmas. Tech announced 165,925 cuts so far in 2026, up 54% from a year earlier. Total US job cut announcements fell 18% in September, leaving tech with 29% of this year's cuts.