Digital asset trading platform Uphold lays off 17% of staff

TechFlow reports, on July 28, according to CoinDesk, digital asset trading platform Uphold announced layoffs of approximately 17% of its global workforce, totaling 85 people (including full-time employees and contractors), across multiple regions. CEO Simon McLoughlin stated that this layoff is part of the company's strategic transformation, reallocating resources towards the rapidly growing enterprise business to address the continued weakness in retail crypto trading activity due to the market downturn.