Crypto Exchange Luno Cuts 20% of Global Workforce Amid Industry Challenges
TL;DR:
- The cryptocurrency platform Luno, a subsidiary of Digital Currency Group, confirmed a 20% reduction in its global staff in July 2026.
- The company maintains a user base of 16 million active users distributed mainly across Africa and the Asia-Pacific region.
- Luno participates as a founding partner of ZARU, a stablecoin pegged to the South African rand, alongside firms such as Sanlam, Lesaka Technologies, and EasyEquities.
Luno cuts its global workforce by 20% as part of a corporate reorganization process announced in July 2026. The move, which was confirmed by James Lanigan, Chief Executive Officer of the firm, responds to the need to adjust the company’s operating structure in light of recent crypto market behavior.
The staff adjustment affects various geographic areas of the company, which is headquartered in London. The company’s management did not detail the exact number of employees laid off during this restructuring phase.
During the first months of 2026, prices of assets such as Bitcoin, Ethereum, and Solana experienced prolonged declines. This environment increased volatility in retail segment trading across multiple platforms.
… Continue reading the full article at the original source below.
