Anchorage Digital Reportedly Cuts 17% of Staff Amid Crypto Downturn
CEO Nathan McCauley told employees the cuts would affect about 68 jobs as Anchorage expands stablecoin services and Tether invests $100 million.
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Anchorage Digital reportedly cuts 17% of staff amid crypto downturn
Anchorage Digital has reportedly cut 17% of its workforce after securing a $100 million Tether investment earlier this year. The Information reported on Oct. 2, citing people familiar with the matter, that McCauley had told employees about the layoffs during…
$4.2B crypto bank Anchorage Digital cuts 17% of workforce: Report
The reported cuts come as Anchorage expands its institutional footprint, including stablecoin issuance and a $100 million investment from Tether. Anchorage Digital, a federally chartered US digital asset bank valued at $4.2 billion earlier this year, has reportedly cut 17% of its workforce, suggesting that the prolonged crypto market downturn is weighing on the company […]
Anchorage Digital, the company that launched Tether's USAT stablecoin, has laid off 17% of its workforce, approximately 68 positions; the bank, valued at $4.2 billion, is shrinking under pressure from the bear market.
Anchorage Digital announced a cut of about 17% of its workforce and attributed the decision to cost pressures that affect the entire crypto sector. The company did not detail what equipment the changes will undergo or whether the operation of its subsidiary bank will have any impact.
Anchorage Digital Slashes 75 Roles Amid Crypto Volatility
NoSmokeSport - Sports News & Latest Trending World News NoSmokeSport - Sports News & Latest Trending World News - Better Sport News Anchorage Digital laid off 75 employees on March 14, 2023, or 20% of its staff, citing regulatory uncertainty and market volatility. This strategic realignme... The post Anchorage Digital Slashes 75 Roles Amid Crypto Volatility first appeared on NoSmokeSport - Sports News & Latest Trending World News and is written …
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