Uphold cuts 17% of global staff to shift resources toward enterprise business
The digital asset platform said 85 employees are affected as weaker retail crypto trading pushes the company to focus on its expanding institutional business while keeping all locations open.
Fact Check
The CoinDesk article confirms Uphold cut 17% of its global headcount on Jul 27, 2026, tied to a strategic shift toward its fast-growing enterprise business, matching the claim's core assertion. Crypto Briefing corroborates the specific count of 85 permanent and contract roles (~17%), confirms international offices remain open, and confirms the redirection of investment toward enterprise/institutional services. All specific figures and characterizations in the claim align with these sources.
Summary
Uphold said it has cut 85 employees, about 17% of its global workforce, as weaker retail crypto trading prompts the platform to redirect resources toward its growing institutional business. The company is keeping all of its locations open, including in the UK, as it expands crypto infrastructure for banks and fintechs. The move highlights how softer activity from individual traders is reshaping strategy across digital-asset firms toward enterprise and business-to-business services.
Terms & Concepts
- institutional business: Services aimed at professional clients such as banks, asset managers, or other large organizations rather than retail users.
- crypto infrastructure: The technology and operational systems that support digital-asset trading, custody, payments, and related services.