Anchorage Digital Cuts 20% of Staff While Citing Crypto Regulatory Uncertainty

The crypto bankAnchorage 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 alsolaid 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.