Anchorage Digital lays off about 17% of staff as sector-wide cost pressures bite

Anchorage Digital is cutting about 17% of its workforce, pointing to cost pressures it says are hitting the entire sector. What we know about the cuts The layoffs affect roughly one in six employees at the digital asset platform. The company tied the decision to cost pressures across the industry rather than to any single event or business line. The roughly 17% figure is the key number here. No exact headcount has been attached to it. The move is being described as part of a broader restructuring. Which teams are affected, and whether any business units are being wound down, has not been laid out. This has happened before Anchorage has walked this road once already. On March 14, 2023, the company let go of approximately 75 employees, or about 20% of its staff at the time. Those 2023 cuts followed a strategic review that ran for several months. The outcome was a sharper focus on institutional custody and regulated services, which remain the core of the business. Back then, the company cited three culprits. Those were regulatory uncertainty in the US, a difficult macroeconomic backdrop, and volatility in crypto markets. The 2023 round landed during a rough stretch for crypto-friendly...