Luno cuts 20% of staff as crypto layoffs spread across 12 firms in July
Crypto exchange Luno is cutting 20% of its global workforce to restructure operations and focus more on institutional clients and B2B services. CEO James Lanigan cited investments in automation and operational improvements as changing the company's needs. This is Luno's second major round of layoffs, having cut 35% of staff in early 2023. The company, serving 16 million users, is part of a wider industry trend where crypto firms cite AI and automation for job cuts.
In July alone, layoffs or restructuring affected 12 crypto and adjacent companies, impacting 894 jobs according to CryptoJobsList. The tracker has recorded over 7,254 disclosed job cuts across 47 companies in 2026, with market conditions being the most common reason. Other firms like Exodus and Gnosis have also recently announced staff reductions, highlighting the ongoing challenges in the crypto sector.
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