Luno Slashes Staff by 20% Amid Crypto Market Volatility

Crypto exchange Luno is restructuring its operations, cutting approximately 20% of its global staff to adapt to the current market conditions. The move aims to trim costs and scale up the company's business-to-business unit, said CEO James Lanigan.

Luno has invested in automation and operational improvements over the past year, but it needs a leaner structure to effectively run the business. The reorganization will allow Luno to expand its offerings to institutional investors, build core infrastructure, and enhance regulatory compliance.

The exchange is also seeking to cement its position in providing non-US stablecoins across emerging markets and replicate the model in other regions where local-currency stablecoin infrastructure remains limited.