Catching CryptoBriefing: Anchorage Digital has carried out another round of layoffs, cutting about 17% of its headcount. The company says the reason is “industry-wide cost pressure,” and it didn’t specify which business line was affected.

This firm is currently the only crypto custody provider in the U.S. that holds a federal national trust license; it received the license in 2021. In February this year, it made a strategic investment involving Tether, with its valuation raised to roughly $4.2 billion. The last major layoff was in March 2023, when about 20% (around 75 people) were cut. Afterwards, it said custody clients’ assets actually hit new highs.

While expanding its licenses and supporting stablecoins, it continues to reduce headcount—institutions also couldn’t fully avoid this round of cold weather.

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