Cryptocurrency exchange Luno is to cut 35% of its workforce, citing the “incredibly tough year” affecting the crypto market.
Luno said the cuts will affect employees in all regions.
“2022 has been an incredibly tough year for the broader tech industry and in particular the crypto market,” Luno said Wednesday. “Luno unfortunately hasn’t been immune to this turbulence, which has affected our overall growth and revenue numbers.
Luno is owned by Digital Currency Group (DCG), also the parent company of CoinDesk.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.