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Odaily News: U.S. digital asset bank Anchorage Digital has reportedly laid off approximately 17% of its workforce. The company was valued at $4.2 billion earlier this year; if its global headcount remains at around 400 as it was in February, this round of layoffs would affect roughly 68 positions. CEO Nathan McCauley informed employees of the layoff arrangements this week.In recent years, Anchorage Digital has expanded its regulated crypto business and entered stablecoin issuance, including participating in Tether's newly launched USD stablecoin USAT. The company also received a $100 million strategic investment from Tether earlier this year. (Cointelegraph)
the token is issued by Anchorage Digital Bank, can be natively minted and redeemed on Celo, and can be directly used to pay on-chain gas fees via Celo's fee abstraction mechanism. USAT went live in January this year and currently has a market cap of approximately $185 million.