Crypto exchange Luno is reducing its global workforce by approximately 20% as part of an operational restructuring aimed at shifting resources toward institutional services, B2B infrastructure, and compliance. CEO James Lanigan noted that investments in automation and operational efficiencies have altered the company’s resource requirements, prompting cost adjustments to match prevailing market conditions. Owned by Digital Currency Group, Luno serves roughly 16 million users across Africa and the Asia-Pacific region. This decision follows a larger 35% workforce reduction made in January 2023.
The restructuring reflects a broader contraction across the digital asset sector, where companies increasingly cite automation and efficiency as reasons for workforce adjustments. Data from CryptoJobsList indicates that at least 12 crypto and crypto-adjacent firms initiated job cuts or restructurings in July, affecting a total of 894 disclosed roles. For the entirety of 2026, the tracker has logged over 7,250 disclosed job cuts across 47 companies.
Other notable firms making strategic realignments during the same month include Exodus and Gnosis. Exodus announced plans to cut 25% of its workforce while refocusing on a card-issuance and stablecoin-payments platform, expecting $10 million to $13 million in annual savings. Meanwhile, Gnosis confirmed staff reductions following a strategic review of its consumer-facing Gnosis App. Although industry-wide figures include adjacent fintechs and are heavily influenced by Block’s 4,000-person layoff in February, the trends highlight a persistent emphasis on leaner operations throughout the space.
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