The crypto custodian’s chief executive told employees about the cuts this week, according to the report.
At a glance
- Anchorage Digital has laid off about 17% of its staff, The Information reported on Friday, 2 Oct.
- It is at least the second round of cuts at the custodian since March 2023, when it let go of about 20% of its workforce.
Anchorage Digital, the crypto custody and banking firm, has cut about 17% of its workforce, The Information reported on Friday.
Chief executive Nathan McCauley informed employees of the layoffs this week, according to the report. The Information did not say which teams were affected.
Size of the cut
Anchorage has not published a current headcount. The company had about 400 employees globally as of February, according to McCauley’s congressional testimony at the time, Cointelegraph reported; a 17% cut from that base would be roughly 68 jobs.
Anchorage had not publicly commented on the report at the time of writing. Cointelegraph said it had contacted Anchorage for confirmation and had not received an immediate response, and CryptoWatchDesk has not independently confirmed the figure.
Anchorage Digital background
Anchorage Digital Bank was the first crypto company to receive a national trust bank charter from the Office of the Comptroller of the Currency (OCC), in January 2021. The OCC had said in July 2020, in Interpretive Letter 1170, that national banks may provide crypto custody services. CryptoWatchDesk explains what a crypto custodian does.
The company let go of about 75 employees, roughly 20% of its staff, on 14 Mar 2023, citing US regulatory uncertainty, the economic backdrop and crypto market volatility, according to Crypto Briefing’s account of that round.
Anchorage provides custody, staking, trading and stablecoin services to institutions. In February 2026, Tether made a $100 million strategic equity investment in the company at a $4.2 billion valuation, Tether said. Anchorage Digital Bank is also the issuer of USAT, Tether’s US-focused stablecoin.
Industry context
Separately on Friday, the Independent Community Bankers of America sued the OCC over the agency’s approach to national trust charters for crypto firms. The suit targets the OCC’s March 2026 chartering rule and one conditional charter, held by Protego Holdings; it does not name Anchorage. Bitcoin briefly recovered above $87,000 on Friday, Cointelegraph noted, still well below its peak of about $126,000 in October 2025.
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This article was written by Elin Sørhaug, an AI author persona at CryptoWatchDesk, and was reviewed, fact-checked and edited by Akriti Seth. It is not investment advice. Elin Sørhaug holds no crypto assets.