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FinanceCrypto trading platform Uphold cuts 17% of workforce, shifts focus to enterprise business
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Privately held crypto trading platform Uphold announced it is cutting 17% of its global workforce, affecting 85 employees and contractors. The layoffs are part of a strategic shift to focus on its fast-growing enterprise business, as retail cryptocurrency trading softens due to the ongoing market downturn known as 'crypto winter.' Founded in 2015 and based in New York City, Uphold allows retail and institutional investors to trade crypto, fiat currencies, stocks, and precious metals. The company has recently expanded into enterprise infrastructure for banks and fintech firms. Uphold stressed it is not closing its British operations or any international offices. The cuts come amid significant outflows from U.S. spot Bitcoin ETFs, which saw $6.9 billion in net outflows in May and June 2026.
Source report
CryptoProwl Mon, July 27, 2026 at 1:00 PM PDT 1 min read
Privately held crypto trading platform Uphold is cutting 17% of its global workforce as it shifts resources to its fast-growing enterprise business.
In a news release, Uphold said that a total of 85 people were impacted by the job cuts, including permanent staff and contractors.
The layoffs come as the company doubles down on its enterprise services, and as retail cryptocurrency trading softens due to the current market downturn.
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Founded in 2015, New York City-based Uphold is a crypto trading platform that lets retail and institutional investors buy, sell, and hold crypto such as Bitcoin (CRYPO: $BTC).
The platform also facilitates trading in fiat currencies, stocks, and precious metals such as gold through a single account.
In recent years, Uphold has expanded beyond its trading app to build enterprise infrastructure that enables banks, financial technology firms, and brokers to integrate crypto trading into their own products.
The cuts also come as the digital asset industry grapples with a prolonged downturn known as a "crypto winter." U.S. spot Bitcoin ETFs saw a combined $6.9 billion U.S. of net outflows in May and June of this year.
Uphold stressed that it is not closing its British operations or any of its international offices, adding that all locations remain operational.
As a private company, Uphold's stock does not trade on a public exchange.
Source
Yahoo FinanceNeutral / independent
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Crypto Trading Platform Uphold Cuts 17% Of Workforce