Anchorage Digital, the first federally chartered US digital asset bank, has reportedly laid off 17% of its staff. Chief Executive Nathan McCauley told employees about the cuts this week, according to The Information.
The report cited people familiar with the matter and tied the layoffs to a year-long crypto market slump. Anchorage has not publicly commented on the reduction.
How Many Jobs Anchorage’s 17% Cut Could Reach
McCauley put the global workforce at about 400 people in congressional testimony in February 2025. If staffing held near that level, a 17% cut would affect roughly 68 jobs.
The real figure may differ since headcount could have shifted since then. BeInCrypto has contacted Anchorage Digital for comment.
The company has made deep cuts before. In 2023, Anchorage laid off 20% of its workforce. McCauley later said that being cut off from banks contributed to that decision.
From Bitwise to Coinbase, Crypto’s Job Cuts Keep Coming
Anchorage joins a long line of crypto firms that have cut staff in 2026. Gemini shrank its workforce by about 30%, while Crypto.com cut 12% in March.
Coinbase then announced it is eliminating about 700 roles, or 14% of staff, in May. That same month, Dune laid off 25% of its team to focus on AI agents and institutional data.
Exchange Luno trimmed 20% of its staff in July, and Bitwise cut about 14% in August. Others announced complete shutdowns, including BitMEX, the Lisk blockchain, and Ethereum layer-2 network Blast.
Outside crypto, technology companies have stepped up job cuts. US tech firms announced 10,799 cuts in September, up 77% from August, a Challenger, Gray & Christmas report shows.
Tech has announced 165,925 cuts so far in 2026, up 54% from a year earlier. However, total US job cut announcements fell 18% in September, leaving tech with 29% of this year’s cuts.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights