Crypto bank Anchorage is making layoffs

Anchorage Digitalan American custodian specializing in cryptocurrency backed by Goldman Sachs and a16z, has fired about 20% of its staff.

In the face of current market conditions and regulatory uncertainty about the crypto in the United States, Anchorage Digital has cut its workforce and separated 20% of its workforce, or about 75 employeesreported Bloomberg Tuesday night.

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Founded in California in 2017, Anchorage offers services including. conservationfor the digital assetsincluding for cryptocurrencies like Bitcoin.

By the end of 2021, the crypto-bank closed a $350 million funding round, boosting its valuation to over 3 billion dollars. Several giants, including GS, Blackrock and KKR, are backing the San Francisco-based company. Note that this is the first crypto company in the United States to obtain a federal banking license.

The layoffs at Anchorage come at a time when many crypto industry players have been cutting back on their teams for several months now as they await better days.

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