Anchorage Digital, valued at $4.2 billion, cut 17% of its workforce. The measure impacts roughly 68 employees from an estimated staff of 400 workers, as confirmed internally by its CEO, Nathan McCauley, who attributed the decision to prolonged weakness and volatility across the sector’s financial environment.
This restructuring highlights how the broader market downturn affects even entities holding federal banking charters in the United States. Despite the cuts, the company maintains its stance in institutional custody and its expansion plans, recently supported by a $100 million strategic capital injection from Tether to advance initiatives such as regulated stablecoin issuance.
Over the coming months, Anchorage Digital will direct its operational resources toward solidifying institutional settlement services and custodying tokenized traditional assets, seeking to optimize its balance sheet while the broader market awaits a sustained recovery in liquidity.
Source: https://www.theinformation.com/briefings/exclusive-crypto-custodian-anchorage-digital-lays-17-staff
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