CASE STUDY | Why The First Regulated U.S Digital Assets Custody Bank Just Cut Over 15% Workforce Again

Anchorage Digital, the federally chartered U.S. digital-asset bank and crypto custodian, has cut 17% of its workforce as a prolonged downturn in cryptocurrency markets puts pressure on the industry.

Chief Executive, Nathan McCauley, informed employees of the layoffs this week, according to The Information, which cited people familiar with the matter. Anchorage had about 400 employees globally as of February 2026 meaning the reduction would amount to roughly 68 positions if its headcount had remained at that level.

The cuts after the company undertook a similar workforce reduction 4 years ago that saw 20% of its staff laid off despite securing $350 million in Series D funding in 2021. At that time, Anchorage Digital was the sole federally-chartered crypto bank in the United States.

Anchorage Digital, the Sole Federally Chartered Crypto Bank in the United States, Cuts Workforce by 20% as Pressure Piles

The cuts come despite Anchorage continuing to expand its institutional digital-asset business.

The company was the first crypto firm to receive a national trust charter from the U.S. Office of the Comptroller of the Currency in 2021 and has since developed a major custody operation serving institutional clients.