Luno layoffs — Apr 5, 2023

Luno Cuts 35% of Workforce Amid Market Pressures on March 5, 2026

Luno, a cryptocurrency exchange owned by Digital Currency Group (DCG), announced on March 5, 2026, that it has reduced its workforce by 35%. The company did not disclose the specific number of jobs affected by this decision. This significant layoff is part of a broader restructuring strategy as Luno navigates ongoing market pressures.

The decision to downsize comes as Luno exits the Singapore market, indicating a shift in its operational focus. The company has cited market conditions as the primary reason for the layoffs, reflecting challenges faced by many in the cryptocurrency sector. While specific comments from company officials were not reported, the restructuring aligns with trends observed across the industry, where exchanges and crypto firms are adapting to fluctuating market dynamics.

Luno, known for its user-friendly platform that allows individuals to buy, sell, and store cryptocurrencies, has been a key player in the digital asset space. The exchange aims to simplify the process of cryptocurrency transactions for users, particularly in emerging markets. However, the current economic climate has prompted a reevaluation of its business strategy, leading to this significant workforce reduction.

As Luno moves forward, the company will likely focus on stabilizing its operations and addressing the challenges posed by the current market environment. The long-term implications of these layoffs on Luno's market position and service offerings remain to be seen as the company adapts to the evolving landscape of the cryptocurrency industry.

Sources: Google News