Anchorage Digital reportedly cuts 17% of its workforce

Anchorage Digital, the first federally chartered US digital asset bank, has reportedly laid off 17% of its staff. The Information reported that Chief Executive Nathan McCauley told employees about the cuts this week. The Information cited people familiar with the matter and linked the layoffs to a year-long crypto market slump. Anchorage has not publicly commented on the reduction. Anchorage has been contacted for comment.

McCauley put Anchorage's global workforce at about 400 people in congressional testimony in February 2025. A 17% cut would affect roughly 68 jobs if staffing remained near that level. The actual number may differ because headcount could have changed since then. Anchorage laid off 20% of its workforce in 2023. McCauley later said that being cut off from banks contributed to that decision.

Other crypto firms have also cut staff in 2026. Gemini reduced its workforce by about 30%. Crypto.com cut 12% of its staff in March. Coinbase announced in May that it is eliminating about 700 roles, or 14% of its staff. Dune laid off 25% of its team that same month to focus on AI agents and institutional data. Exchange Luno cut 20% of its staff in July. Bitwise cut about 14% of its staff in August. BitMEX, the Lisk blockchain and Ethereum layer-2 network Blast announced complete shutdowns.

Technology companies outside crypto have also increased job cuts. A Challenger, Gray & Christmas report shows that US technology firms announced 10,799 job cuts in September, up 77% from August. The technology sector has announced 165,925 job cuts so far in 2026, up 54% from a year earlier. However, total US job cut announcements fell 18% in September. Technology accounts for 29% of this year's US job cut announcements.