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CryptoWorld News reports that Uphold has responded to the New York Attorney General's statement regarding its $5 million Cred settlement. Uphold stated that the Attorney General's statement misinterpreted the key facts of the settlement and rejected any allegations of intentionally promoting Cred. Uphold pointed out that Cred misled the company and its customers, leading over 6,000 clients to invest approximately $50 million through the product, ultimately resulting in losses of over $34 million. Uphold CEO Simon McLoughlin said they are disappointed with the Attorney General's statement and emphasized that the company acted quickly after learning of Cred's issues. The settlement requires Uphold to pay $5 million in damages and to maintain a risk review process before recommending third-party products.