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DCG-Owned Crypto Exchange Luno Axes 35% of Staff, Citing Market Turbulence

Cryptocurrency exchange Luno is the latest company in the industry to make layoffs, setting out to cut 35% of its global workforce.

The London-based firm’s CEO, Marcus Swanepoel, informed employees of the redundancies at 12 p.m. London time on Wednesday in a live-streamed town hall.

Luno has a total headcount of roughly 960, according to its LinkedIn profile, meaning that more than 330 jobs will be impacted.

The cuts impact Luno’s marketing teams in particular. A Luno spokesperson told CNBC the layoff measure would have “minimal or no impact on key operating, and compliance teams.”

Luno, which has offices in Africa, southeast Asia and Europe, is part of the Digital Currency Group crypto conglomerate.

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