Anchorage Digital Lays Off 17% of Workers, Adding to Crypto Job Cut Wave

Anchorage Digital, the first US digital asset bank to receive a federal charter, is said to have reduced its workforce by 17%. The company's CEO, Nathan McCauley, informed employees of the job cuts this week, The Information reported.

According to sources close to the situation, the staff reductions are linked to the prolonged downturn in the crypto market that has lasted over a year. Anchorage Digital has yet to issue a public statement about the layoffs.

Estimating the Job Losses from Anchorage's 17% Cut

In testimony before a U.S. Senate committee in February 2025, McCauley stated that the company had roughly 400 employees globally. Assuming headcount has remained around that figure, a reduction of 17% would eliminate approximately 68 positions.

The actual number could vary because staffing levels may have changed since February. BeInCrypto has reached out to Anchorage Digital for a response.

Anchorage Digital has a history of significant workforce reductions. In 2023, the company cut 20% of its employees. McCauley subsequently mentioned that losing access to banking services played a role in that decision.

Crypto Job Losses Mount: Bitwise, Coinbase and Others Trim Staff

Anchorage Digital adds to the growing list of cryptocurrency companies that have reduced their headcount during 2026. Gemini decreased its staff by roughly 30%, while Crypto.com made a 12% reduction in March.

In May, Coinbase disclosed plans to cut approximately 700 positions, representing 14% of its workforce. Also in May, Dune laid off 25% of its staff, intending to concentrate on AI agents and institutional data services.

Luno, a cryptocurrency exchange, reduced its workforce by 20% in July, while Bitwise made cuts of roughly 14% in August. Several other platforms announced total closures, among them BitMEX, the Lisk blockchain, and Blast, an Ethereum layer-2 network.

Beyond the crypto sector, technology companies have also accelerated layoffs. According to a Challenger, Gray & Christmas report, U.S. tech firms announced 10,799 job cuts in September, a 77% increase compared to August.

In the first nine months of 2026, the tech sector has announced 165,925 job cuts, a 54% rise from the same period a year earlier. Nonetheless, overall U.S. job cut announcements declined by 18% in September, with tech accounting for 29% of the year's total so far.