Crypto Exchange Luno Cutting 35% of Its Staff

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.

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