Nathan McCauley, CEO of Anchorage Digital, vehemently denied claims regarding a U.S. Department of Homeland Security (DHS) investigation into his crypto bank during a panel at Consensus 2025 in Toronto. He described the article that sparked this rumor as “bullshit,” asserting that there is no investigation ongoing at this time. McCauley noted that Anchorage had instructed its legal team to investigate the allegations which were found to be false.

The controversy began with a report from Barron’s, which stated that the DHS’s El Dorado Task Force had contacted former employees of Anchorage to inquire about the company’s practices. Following that, McCauley highlighted Anchorage Digital’s reputation for regulatory compliance, pointing out its receipt of a BitLicense from the New York Department of Financial Services.