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FollowingAnchorage Digital Bank laid off 17% of its workforce, as cost pressures contrast sharply with business expansion
Federally chartered cryptocurrency bank Anchorage Digital has reportedly cut its workforce by 17%. The move has put the bank under cost pressure, in sharp contrast to the previous year's expansion in stablecoin issuance, institutional custody and settlement infrastructure. CEO Nathan McCauley has informed employees of the layoffs in the past week, according to people familiar with the matter.
Anqioqi did not publicly disclose the number of employees affected, nor did he provide specific breakdown data on the departments that were laid off. McCauley said in testimony to the Senate Banking Committee in February 2025 that Anchochi has approximately 400 employees worldwide. Calculating this historical figure based on the reported 17% decline, it means about 68 positions have been cut, although Anchochi's workforce may have changed significantly since that testimony.
The layoffs come eight months after Tether made a US$100 million strategic equity investment in Anchochi Digital, which valued the company at US$4.2 billion and was co-initiated with an employee share buyback offer.
Does layoffs point to pressure on Anchoqi's core business?
据报道，此次人员缩减与数字资产市场的长期低迷有关，但安乔奇尚未公开发布财务结果，以显示较弱的加密价格如何影响其收入、托管资产或交易活动。这一区别至关重要，因为安乔奇并非主要的方向性加密货币投资企业。其机构模式涵盖托管、质押、结算、交易基础设施和稳定币服务，这意味着其收入可能以不同方式依赖于资产价值、客户活动和交易量。
该公司此前也曾减少过员工。麦考利曾向立法者表示，安乔奇在2023年裁员约20%，其中包括70名美国员工，原因是维持银行关系的困难扰乱了其部分业务。此后，其监管地位得到加强。货币监理署（OCC）于2025年解除了对安乔奇数字银行的合规相关同意令，此前该机构曾指出其在《银行保密法》和反洗钱框架方面存在缺陷。
投资者启示
17%的员工削减幅度显著，但这本身并不能确立安乔奇资产负债表或托管业务的恶化。更重要的指标将是机构资产、稳定币发行量和客户活动的变化，而这些数据均未随裁员报告一同披露。
为何裁员时机与安乔奇的扩张形成反差？
This staff reduction follows a period of unusual activity in Anqioqi's organization's business. Bitcoin chose Anchochi Digital Bank to issue its U.S. dollar stablecoin USA. It is reported that USA launched through Anchochi's federally supervised banking infrastructure, expanding the role of the custodian from storing digital assets to directly supporting stablecoin issuance. Subsequently, Anchochi launched a stablecoin infrastructure for international banks, integrating issuance, redemption, custody, legal tender Treasury services and blockchain settlement. The product provides financial institutions with a way to access tokenized dollar infrastructure through federally licensed providers without having to assemble these functions among multiple cryptocurrency companies.
Despite the weakness of the crypto market, its product expansion continues. In September this year, Anchochi added institutional custody of Etherlink and multiple Tezos-based assets, including stablecoins, liquidity pledge products and tokenized uranium. It has also expanded pledge and custody support on networks such as TRON.
Investor Revelation
Tensions exist between personnel contraction and product expansion. If Anchochi can continue to increase agency commissions while maintaining a small cost base, layoffs may increase operating leverage. If staff reductions restrict compliance, engineering or customer service capabilities, executing the expansion may become more difficult.
What changes has the US$100 million investment in Bitcoin brought?
特币2月份的投资为裁员故事提供了一个重要的制衡因素。这笔交易将安乔奇估值为42亿美元，反映了一种现有的商业关系，而非纯粹的被动金融投资。两家公司在宣布交易时已经在USA₮项目上合作。安乔奇还表示，它不需要这笔交易主要用于筹集新的运营资本，而是将其与首次员工股份回购要约相结合，为长期服务的员工提供流动性。
此后，安乔奇进一步进入稳定币市场。据报道，该公司推出了面向国际银行的稳定币服务，将发行和结算与最初定义该公司的托管业务并列。这一战略使安乔奇面临两种相反的力量：较弱的加密交易和资产价格可能会减少现有业务的活跃度，而受监管的稳定币和机构代币化可以创造对新收入流，减少对投机市场周期的依赖。
投资者启示
下一个问题是，安乔奇较新的稳定币和机构产品能否产生足够的经常性活动，以抵消其他领域的周期性压力。公司规模的大小不如公司42亿美元的估值最终能否得到受监管数字资产基础设施带来的持久收入支持重要。
