Anchorage Digital Cuts 20% of Staff While Citing Crypto Regulatory Uncertainty
- Financial services startup is laying off around 75 employees
- Anchorage says banking subsidiary is unaffected by the layoffs
Photographer: Yuichiro Chino/Moment RF/Getty Images
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The crypto bank Anchorage Digital is the latest industry participant to slash staff as the sector continues to grapple with a major market downturn for digital assets. The financial services startup said Tuesday that it is laying off about 20% of its staff, or 75 people, and cited the uncertain crypto regulatory landscape in the US as a factor in its decision.
Coinbase Global Inc., Blockchain.com, Genesis and Crypto.com also laid off employees in 2023, leading to more than 2,000 job cuts so far this year. San Francisco-based Anchorage said in its statement that broad macroeconomic challenges and the volatility of the crypto market also pushed it to shed staff.