Anchorage Digital Reduces Workforce by 17% Amid Expansion Plans
Anchorage Digital has reportedly cut 17% of its workforce as it expands its institutional services, including stablecoin issuance and securing a $100 million investment from Tether.
Anchorage Digital has cut 17% of its workforce, according to a report by cointelegraph.com. This reduction comes as the company seeks to expand its institutional footprint, which includes stablecoin issuance and a $100 million investment from Tether.
Key Takeaways
- Anchorage Digital has reduced its workforce by 17%.
- The cuts are part of an expansion of its institutional services.
- Anchorage is involved in stablecoin issuance and has secured a $100 million investment from Tether.
Context
Anchorage Digital is a cryptocurrency bank that provides custody and other services for institutional clients. The company has been actively involved in the growing market for digital assets and is adapting its operations to meet the evolving demands of the sector.
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