Uphold cut 17% of global workforce citing crypto winter headwinds on retail trading while scaling enterprise operations.
Macro & Markets ·
Digital-asset trading platform Uphold cut 17% of its global workforce in response to crypto winter pressures affecting retail trading activity, according to reporting by CoinDesk. The reductions reflect a strategic pivot toward scaling the company's enterprise business rather than competing for individual traders in a weakened retail environment.
The move underscores tension in crypto markets between retail and institutional participants. Retail crypto investors — individuals trading through consumer platforms — remain influential in shaping market volatility, though their activity has contracted alongside broader market headwinds. Uphold's decision to reallocate resources signals a shift in how platforms are positioning themselves as institutional adoption matures and retail demand softens.
The extent of Uphold's enterprise growth trajectory and the specific business segments targeted by the restructuring have not been detailed in available reporting.