Uphold layoffs — Jul 27, 2026

Uphold Cuts 85 Jobs, or 17% of Workforce, in July 28 Restructuring

Uphold has cut 17% of its global workforce, affecting 85 permanent employees and contractors, as the digital asset exchange reallocates resources toward its growing enterprise business. The restructuring affects employees across multiple regions.

The company said weaker retail crypto trading activity accelerated the decision to shift its focus. Uphold is prioritizing enterprise services as demand from banks, fintech companies and broker-dealers continues to grow.

“We’re recalibrating after several years of extraordinary growth, during which we nearly doubled our headcount,” CEO Simon McLoughlin said in emailed comments. “Despite the current slowdown in crypto trading activity, we’ve never been more confident in the prospects for digital assets and blockchain technology.”

Founded in 2015 and based in New York City, Uphold operates a trading platform for retail and institutional customers. Its services allow users to buy, sell and hold cryptocurrencies, fiat currencies, equities and precious metals through a single account. The company has also expanded its enterprise infrastructure, enabling financial firms to integrate crypto trading and custody services into their products.

Uphold said it is not closing any offices and will continue serving customers in the United Kingdom, Europe and its enterprise business as normal. The cuts come amid weaker crypto trading volumes and reduced retail participation during a broader market downturn, while the company maintains its outlook for digital assets and blockchain technology.

Sources: CoinDesk