The federally chartered digital asset custody bank is said to have reduced its workforce for a second time in recent memory.
Anchorage Digital has reportedly reduced its workforce by roughly 17%, according to a report from BeInCrypto. A separate report from BitKE described the cut as exceeding 15% and characterized it as a repeat reduction, suggesting this is not the company's first round of layoffs.
Anchorage holds a distinct position in the digital asset industry. It is the first crypto firm to receive a national trust bank charter from the Office of the Comptroller of the Currency. That designation lets it offer regulated custody services to institutional clients, including banks, asset managers and corporations holding digital assets.
The reported layoffs place Anchorage among a lengthening list of crypto companies trimming staff in 2025 and into 2026. Firms across exchanges, lending platforms and infrastructure providers have cited cost discipline, shifting business priorities and uneven revenue as reasons for cuts. Custody providers, despite serving as a backbone of institutional crypto adoption, have not been immune to these pressures.
Neither source detailed the specific divisions affected by the reported reduction, nor did they specify the total headcount before or after the cuts. The absence of those figures makes it difficult to assess which parts of Anchorage's business, custody operations, trading, or corporate functions, bore the brunt of the reduction.
The BitKE report's reference to a repeat cut raises questions about whether Anchorage is adjusting to slower-than-expected institutional onboarding, or recalibrating after an earlier period of rapid hiring. Custody banks often expand staff ahead of anticipated institutional demand, then adjust when client growth lags projections.
Anchorage's regulatory status has made it a bellwether for how traditional finance views crypto custody. Its charter was seen as a milestone when granted, signaling that federal regulators were willing to treat qualifying crypto firms similarly to conventional banks. Workforce reductions at a company with that profile may prompt renewed scrutiny of how institutional crypto adoption is actually progressing, separate from the regulatory recognition the sector has received.
The broader custody and institutional services segment of crypto has grown steadily as more corporations and funds seek regulated ways to hold digital assets. But growth in assets under custody does not always translate directly into proportional revenue or staffing needs, particularly as firms automate services and compete on fees.
Neither BeInCrypto nor BitKE detailed a formal statement from Anchorage confirming the exact percentage or rationale behind the reported cuts. As with many reported layoffs in the crypto industry, the specifics may become clearer as affected employees or company officials provide further detail in the coming days.
Market Impact
Workforce reductions at a regulated custody bank like Anchorage could be read as a signal about the pace of institutional crypto adoption, which custody providers depend on for revenue. If institutional demand for custody services is growing more slowly than firms anticipated when they staffed up, further adjustments across the sector may follow.
The reported cuts are unlikely to directly affect clients' custodied assets, since custody arrangements are typically structured to remain intact regardless of staffing changes. However, repeated layoffs at a prominent, federally chartered player may feed into broader market narratives about cost discipline overtaking expansion across crypto infrastructure companies.
As crypto firms continue adjusting headcount in response to market conditions, Anchorage Digital's reported cuts underscore that even regulated, federally chartered players are not shielded from the industry's broader cost pressures.
Frequently Asked Questions
What is Anchorage Digital?
Anchorage Digital is a digital asset custody company and the first to hold a national trust bank charter from the U.S. Office of the Comptroller of the Currency.
How large were the reported layoffs?
BeInCrypto reported a workforce reduction of about 17%, while BitKE described the cut as exceeding 15% and noted it followed an earlier reduction.
Has Anchorage Digital confirmed the layoffs officially?
Neither source cited a detailed public statement from Anchorage confirming the exact figures or reasoning behind the reported staff reduction.
Is Anchorage Digital the only crypto firm cutting jobs recently?
No. Anchorage's reported layoffs add to a broader pattern of workforce reductions across crypto exchanges, lenders and infrastructure firms over the past year.
