Anchorage Digital, the only federally licensed crypto bank in the United States. It said on Tuesday it would cut about 20% of its workforce amid regulatory uncertainty in the United States, macroeconomic challenges, and crypto market volatility.
“The strategic adjustments we are making. It occurred during a review process that lasted several months,” the company said in a statement.readyIt added that it had laid off 75 staff while saying the business was growing. but pointed to “Macro-economic, market, and regulatory trends” that are “creating obstacles for our business and the crypto industry.”
The announcement came just days after the regulator.take control Crypto-friendly Signature Bank and Silicon Valley Bank Although both institutions are licensed and regulated by government agencies, Anchorage Digital operates under the oversight of the Federal Office of the Currency Regulator.
“Our customers shouldn’t experience service issues,” the company said. “We remain optimistic about the digital economy.”
Anchorage Digital Raises $350 Million in 2021 Series D Funding Round Led by KKR Other Investors include Goldman Sachs, BlackRock, PayPal Ventures, Andreessen Horowitz, Alameda Research, Apollo credit fund, GIC, GoldenTree Asset. Management, Wellington Management and private equity firm Thoma Bravo.
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