Uphold Cuts 17% of Global Workforce as Crypto Winter Slows Retail Trading

TLDR

• Uphold laid off 85 people — about 17% of its global workforce — including full-time staff and contractors
• The cuts were driven by slowing retail crypto trading and a shift toward enterprise services
• The total crypto market cap fell to around $2.1 trillion at the end of Q2 after three straight quarters of declines
• U.S. spot Bitcoin ETFs saw $6.9 billion in net outflows in May and June
• Uphold plans to expand its consumer app with U.S. stocks, tokenized securities, and DeFi features by end of 2026

Uphold, the New York City-based digital asset trading platform, has cut roughly 17% of its global workforce. Around 85 people were affected, including both permanent employees and contractors across multiple regions.

🚨LAYOFF ALERT -🇺🇸

Uphold, a digital asset trading platform has cut 17% of its global workforce as part of a strategic realignment driven by prolonged weakness in retail crypto trading activity. pic.twitter.com/UXg4FwnMJr

- WhatLayoff 🚨 (@WhatLayoff) July 27, 2026

The company said the layoffs are part of a strategic shift toward its enterprise business, which connects banks, fintechs, and broker-dealers to crypto trading and custody services.

… Continue reading the full article at the original source below.