Anchorage Digital, a federally chartered digital asset bank, announced on March 14 that it will be reducing its headcount by approximately 20%, or 75 employees, as part of a strategic realignment to better focus resources amid an evolving landscape facing the crypto industry.
While Anchorage’s client assets under custody are at an all-time high, regulatory uncertainty in the US, broad macroeconomic challenges, and crypto market volatility are creating headwinds for its business and the industry at large. Anchorage expressed continued confidence in the digital asset landscape and its ability to build regulated solutions for digital asset holders.
The layoffs are not related to the recent turmoil in the US banking sector, and Anchorage stated that its clients should experience no disruption in service. The company will be executing the actions in a seamless manner with all appropriate support for its team members.
Anchorage — which became the first U.S.-based crypto firm to be granted a national trust bank charter from the Office of the Comptroller of the Currency in January 2021 — expressed continued confidence in the digital asset landscape and its ability to build “regulated solutions for digital asset holders.”
