Multi-asset trading platform Uphold has cut approximately 17% of its global workforce, affecting 85 employees and contractors amid restructuring driven by weakened retail crypto activity. The New York-based company, founded in 2015, had nearly doubled its workforce during the previous market expansion and is now adjusting its cost structure to current trading conditions. This decision comes within a broader context of prolonged decline in the digital asset market, with total capitalization falling to approximately $2.1 trillion at the end of the second quarter, after three consecutive quarterly declines. Uphold stated it is not closing its UK business or any other international offices, and plans to focus more heavily on enterprise services, particularly for banks, fintechs, and dealers, before broadening its consumer app in 2026.
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