- Anchorage Digital is reportedly cutting 17% of its staff, about 68 jobs, despite a recent $100 million Tether investment that valued it at $4.2 billion.
- The move lands in a year that has seen more than 7,411 crypto jobs cut and new postings fall roughly 80% year over year, even as institutional investors signal they want more exposure to digital assets.
- For institutional clients and crypto workers, it suggests regulated infrastructure firms may be concentrating resources instead of completely retreating.
It has been reported that Anchorage Digital is laying off 17% of its workforce as crypto winter grips even one of the more well-funded regulated firms in the industry. If the headcount is still around the 400 employees reported by CEO Nathan McCauley to Congress in February 2025, that would entail approximately 68 layoffs.
The move comes eight months after Tether invested $100 million in Anchorage at a $4.2 billion valuation.
Cost-cutting sits next to capital strength
Reportedly, employees were told by McCauley that Anchorage is cutting jobs due to the general downturn in the current crypto market, as per The Information. The number 68 mentioned here is an estimate and not an official number. It is based on the 17% cut reported by The Information and the earlier employee data reported by McCauley.
The timing is remarkable. The investment by Tether in February valued Anchorage at $4.2 billion and has made possible the payment to employees through the first employee tender offer. Thus, the layoffs do not appear as a desperate need for cash, but as an effort to reduce expenses in response to the worsening economic situation.
A crypto labor market that kept shrinking through 2026
Anchorage is not the only company going through layoffs. CryptoJobsList reports that there have been at least 7,411 job cuts in 60 crypto companies in 2026. The biggest among these is Block’s 4,000 job cuts in February.
Hiring activity has also declined. In January, Tiger Research reported that the number of new job listings on the leading crypto job portals declined by approximately 80% on a year-over-year basis, continuing a decline that began after 2022.
The hiring that survives points toward infrastructure
The remaining vacancies in the job market are becoming increasingly specialized. Out of a total of 2,932 openings monitored by Tiger Research in the first half of 2026, engineering accounted for 34.1%, followed by compliance and legal jobs at 10.4%. Meanwhile, stablecoins and payments comprised 13.4% of the total job openings in the market.
That’s consistent with Anchorage’s approach. The company identifies itself as a service provider to institutions in custody, trading, settlement, and other digital asset-related activities. It has also advanced further into the institutional market infrastructure with the development of products that link regulatory custody with crypto trading.
Institutions keep buying even as firms get leaner
Institutional interest has not faded. In a 2026 survey published by EY, it was revealed that 73% of the companies surveyed intended to expand their investments in digital assets over the following year.
Similarly, the analysis of BCG established that infrastructure, such as custody, settlement, and tokenized assets, is becoming more important due to the increasing integration of digital assets with traditional finance.
Anchorage fits into the changing picture. In June, Binance included Anchorage in its triparty banking network, allowing institutions to keep collateral in regulated custody while trading.
The layoffs therefore indicate a crypto industry that is becoming more selective about where its funds go. There is still enough capital, but companies are limiting their spending. For Anchorage, the issue is whether the company can thrive with a smaller workforce while focusing on infrastructure projects as its avenue of growth.
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FAQs
How many jobs is Anchorage Digital reportedly cutting?
Anchorage is reportedly reducing its workforce by 17%, which works out to roughly 68 roles based on CEO Nathan McCauley's February testimony that the company employed about 400 people globally, according to Cointelegraph citing The Information.
Did Anchorage Digital recently raise money before the layoffs?
Yes. Anchorage announced a $100 million strategic investment from Tether at a $4.2 billion valuation in February, a deal that also funded the company's first-ever employee tender offer, per Anchorage's press release.
Is the broader crypto job market also shrinking?
Yes. CryptoJobsList counts more than 7,411 crypto jobs cut across 60 companies in 2026, and Tiger Research found new postings fell about 80% year over year in January 2026, with engineering and compliance the most resilient hiring categories.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Ibiam Wayas
Ibiam Wayas has covered the crypto news beat since 2019. He studied Computer Science at National Open University of Nigeria. His work has appeared on various crypto news platforms, including Coinfomania, Crypto News Australia, and AltcoinBuzz. Drawing on his background in Computer Science, he now focuses on crypto, robotics, and longevity news.
