Bitcoin News
By Evie Vavasseur
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Enterprise Push Drives the Restructuring. The layoffs cut across multiple regions. Uphold has offices in the U.K.
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Consumer App Still in the Plan — Just Smaller Priority. Uphold isn't walking away from retail entirely. McLoughlin wants to turn the consumer app into…
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Uphold just shed 17% of its global workforce. That's 85 people — permanent staff and contractors both — gone as the New York-based digital asset platform pivots hard toward…
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CEO Simon McLoughlin didn't hide the rationale. He said he still believes in the long-term prospects of digital assets and blockchain technology, but the numbers on the retail…
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The layoffs cut across multiple regions. Uphold has offices in the U.K. and elsewhere internationally, and the company was clear: none of those locations are closing.
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What Uphold is actually doing is doubling down on the part of its business that's growing. The enterprise platform lets banks, fintechs, and broker-dealers plug crypto trading…
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And the timing kind of makes sense. Retail crypto volumes are soft across the board, not just at Uphold. Plenty of other platforms have made similar calls over the past year or so.
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Uphold isn't walking away from retail entirely. McLoughlin wants to turn the consumer app into what the company calls a multi-asset, blockchain-enabled financial companion.
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That's a pretty ambitious list of features. Tokenized securities and asset-backed lending in particular aren't easy to bolt onto an existing platform — regulatory complexity…
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See also: BitMEX Closes After 11 Years as Crypto ATM Losses Hit $124M and Clarity Act Stalls
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What's probably true is that the enterprise side is generating enough momentum to justify the resource reallocation.
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The broader industry has been moving this direction for a while. Several crypto-native companies have shifted focus toward B2B and infrastructure plays as retail enthusiasm…
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More announcements on the enterprise side are expected in the coming months, per the company.
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For the 85 people who lost their jobs, the timing is rough. The crypto job market isn't exactly flush right now, with the broader sector still working through the hangover from…
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More context: Bitwise CIO Matt Hougan Sees Bitcoin and Tokenization Fueling Next Crypto Cycle
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