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Luno to cut about 20% of staff as it shifts toward institutional services
The exchange plans to move more resources toward institutional clients, financial infrastructure, and B2B services while trimming costs and investing in compliance and infrastructure.
Crypto exchange Luno is reportedly cutting about 20% of its global workforce as it restructures operations and reallocates resources toward institutional clients, financial infrastructure, and business-to-business services, according to Cointelegraph. Citing automation and broader operational improvements, the outlet said Luno CEO James Lanigan told Bloomberg the company’s investments changed how many people are needed to run the business. Luno also plans to trim costs in line with market conditions while investing in compliance, core infrastructure, and retail products. Cointelegraph noted that Luno previously made larger cuts, including a 35% staff reduction in January 2023 that affected nearly 330 employees amid turbulence across the technology and crypto sectors. The company, founded in South Africa and owned by Digital Currency Group, serves about 16 million users across Africa and the Asia-Pacific region. The report places the layoffs within a broader industry trend, pointing to CryptoJobsList data showing layoffs or restructurings at 12 crypto and crypto-adjacent companies in July with disclosed figures totaling 894 jobs affected. Cointelegraph added that CryptoJobsList has recorded more than 7,254 disclosed job cuts across 47 companies in 2026, with market conditions cited most often, and that the tracker can be skewed by large reductions at specific firms.