Anchorage Digital reportedly cuts 17% of staff amid crypto downturn

Anchorage Digital reportedly cut 17% of its workforce amid a crypto downturn, following Tether’s $100 million investment and stablecoin expansion.

• Anchorage Digital has reportedly laid off 17% of its workforce amidst a general downturn in the cryptocurrency market.
• This reduction follows a significant $100 million investment from Tether earlier in the year, which is also a partner in Anchorage's USAT stablecoin issuance.
• Despite the layoffs, Anchorage continues to expand its services, including custody for tokenized assets like uranium and partnerships for stablecoin infrastructure.

Topics: Institutional adoption, Infrastructure providers, Scalability, Asset manager initiatives, Tokenization platforms, Growth metrics

Tags: #anchoragedigital #tether #stablecoin #layoffs #cryptodownturn #usat #tokenizeduranium #layerzero #custody

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Cleveland-Cliffs to idle output at Canada steel plant, blames tariffs, says CBC

Cleveland-Cliffs is idling some production at its Hamilton, Ontario plant in ​Canada and will lay off hundreds ‌of workers, citing the damage done by US tariffs, CBC News said on Monday.

• Cleveland-Cliffs is idling production and laying off hundreds of workers at its Hamilton, Ontario steel plant due to damage from US tariffs.
• The company cites high import volumes preventing it from bridging the market gap created by the trade crisis.
• Stelco will concentrate production at its Nanticoke plant, offering affected Hamilton employees jobs there.

Topics: Asset types, Jurisdictions, Legal regulatory, Real assets, Cross jurisdictional policy, Enforcement actions litigation

Tags: #clevelandcliffs #tariffs #steelproduction #canada #ontario #hamiltonplant #layoffs #ustariffs #stelco #tradecrisis

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Uphold Cuts 85 Jobs, 17% of Staff, in Pivot to Enterprise

Uphold cut 85 employees and contractors — 17% of staff — as retail crypto trading slows and the platform shifts investment to enterprise services.

• Uphold has laid off 17% of its staff (85 employees) due to a slowdown in retail crypto trading.
• The company is pivoting its investment and resources towards growing its enterprise services business, providing crypto infrastructure to financial institutions.
• Despite the restructuring, Uphold plans to expand its retail app into a broader financial platform offering stocks, tokenized securities, and other services.

Topics: Infrastructure providers, Scalability, Institutional adoption, Tokenization platforms, Institutional capital inflows, Asset manager initiatives

Tags: #uphold #layoffs #enterpriseservices #retailcryptotrading #blockchaintechnology #financialinstitutions #tokenizedsecurities #digitalassets #cryptoinfrastructure

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Uphold Cuts Staff. The Money Now Goes to Its Bank-Facing Business

Uphold has cut its global headcount by 17%, laying off roughly 85 employees and contractors, CoinDesk reported, citing sources familiar with the matter.

• Uphold has reduced its global workforce by 17% to reallocate resources towards its enterprise business serving banks, fintechs, and broker-dealers.
• The company plans to continue its consumer app roadmap, including the addition of US stocks and tokenized securities by the end of 2026.
• This strategic shift aims to leverage the growing demand from financial institutions for digital asset services via API-based solutions.

Topics: Infrastructure providers, Institutional adoption, Scalability, Tokenization platforms, Major financial incumbents, Institutional capital inflows

Tags: #uphold #layoffs #enterprisebusiness #tokenizedsecurities #fintechs #brokerdealers #api #consumerapp #financialinstitutions

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