Cryptocurrency Winter: The Human Cost of Industry Consolidation The recent announcement by crypto trading platform Uphold to cut 17% of its workforce has sparked discussions about the impact of industry consolidation on employees and the broader market.
This move comes as a sector marked by rapid growth and high volatility is forced to adapt to changing market conditions.
The layoffs, which affect 85 people including permanent staff and contractors, are part of Uphold's effort to prioritize its enterprise business amidst a downturn in retail trading.