New York AG says it secured over $5M from Uphold

What happened?

1. The Office of the New York Attorney General announced on April 29, 2026, that it secured more than $5 million from Uphold HQ, Inc.
2. The office alleged that Uphold misleadingly promoted and offered Cred, LLC's CredEarn product to customers from January 2019 through October 2020.
3. The office alleged Uphold advertised CredEarn as a dependable savings product, while Cred allegedly made loans that were risky to borrowers located in China who had no credit histories.
4. The office alleged that Uphold promoted CredEarn without registering as a broker or commodity broker-dealer.
5. Attorney General James alleged Uphold marketed investments that were risky and tricked its customers into believing those investments were safe.

The Office of the New York Attorney General announced on April 29, 2026, that it secured more than $5 million from cryptocurrency platform Uphold HQ, Inc. The office alleged that Uphold misleadingly promoted and offered Cred, LLC's CredEarn investment product, including by advertising it as a reliable savings product, and that Uphold did so without registering as a broker or commodity broker-dealer. James, as Attorney General, alleged that Uphold pushed investments carrying risk and deceived its customers into thinking they were safe.

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