Luno cuts about 20% of staff globally

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Luno, the cryptocurrency exchange owned by Digital Currency Group, will cut about 20% of its global staff as part of a restructuring announced by chief executive officer James Lanigan. The reorganization will scale Luno's business-to-business unit and trim costs in line with current market conditions, the company said. Immediate consequences include a smaller workforce and a strategic shift toward B2B services, while cost savings aim to align operating expenses with market realities. The move may affect the exchange's operations and signals continued cost pressure in the cryptocurrency sector.

Luno will cut about 20% of its global staff.