Luno reduces workforce by 20%
Luno has cut 20% of its staff as part of a broader trend of layoffs in the crypto industry.
The move follows similar actions by other firms, including Exodus, which announced plans to cut 25% of its staff earlier in July.
Exodus expects the restructuring to result in annual operating savings of between $10 million and $13 million.
The layoffs reflect the challenges faced by crypto companies amid a decline in market activity.