Luno cuts workforce after crypto downturn

• Luno has reduced its workforce as part of a restructuring plan.
• The cryptocurrency exchange said the cuts follow a slower market environment.
• The company said it will focus resources on long-term growth and core products.

Luno has reduced its workforce as the cryptocurrency exchange restructures its business following a prolonged slowdown in digital asset markets.

The company said the job cuts are intended to align operating costs with current market conditions and support its long-term business strategy.

Luno did not disclose the number of employees affected but said it remains focused on serving customers and investing in its core products and services.

The company said the restructuring is designed to strengthen its operations while responding to changing market conditions.

Luno is owned by Digital Currency Group and operates cryptocurrency trading and investment services across multiple markets, including Africa, Europe and Asia.

The workforce reduction follows similar cost-cutting measures across the cryptocurrency industry as companies continue to adjust after the market downturn.