Uphold announces layoffs of 17% to cope with slower trading activity driven by a weak market

PANews July 28, according to CoinDesk, digital asset trading platform Uphold announced it will lay off about 17% of its global employees, affecting a total of 85 full-time staff and contractors. The company said the adjustment is intended to further allocate resources to enterprise-grade business lines that are growing rapidly, in response to a slowdown in retail trading activity caused by the recent lull in the crypto market.

Uphold said it will not close its UK or other international offices, and business operations in all regions will continue as usual. Currently, the company provides crypto trading and custody infrastructure for banks, fintech companies, and brokerages, and plans to upgrade its consumer-facing application in 2026 into a multi-asset blockchain financial platform supporting features such as U.S. stock trading, tokenized securities, asset-backed lending, credit cards, prediction markets, and DeFi yield.

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