Uphold Cuts 17% of Workforce (85 Employees) Amid Retail Trading Decline

According to CoinDesk, Uphold announced yesterday (July 28) that it is laying off approximately 17% of its global workforce, totaling 85 full-time and contract employees. The digital asset trading platform cited slowing retail trading activity due to recent crypto market downturns as the primary reason for the adjustment. The company said it will redirect resources toward its faster-growing enterprise-level business, which provides crypto trading and custody infrastructure for banks, fintech companies, and broker-dealers. Uphold confirmed that no international offices will be closed and all regional operations will continue normally.
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