Cryptocurrency exchange Luno is cutting about 20% of its global workforce, the company announced, joining a wave of layoffs that has hit at least 12 crypto and crypto-adjacent firms in July 2026.
Luno CEO James Lanigan attributed the decision to investments in automation and broader operational improvements. He declined to disclose the number of employees affected by the 20% reduction. The company previously cut 35% of its staff in January 2023, which affected nearly 330 employees.
Of Luno's global workforce cut in the latest round
Luno, which serves about 16 million users across Africa and the Asia-Pacific region, is owned by Digital Currency Group (DCG), which acquired the South African-founded company in 2020. The company said it will continue investing in retail products, infrastructure, and regulatory compliance while trimming costs, and is shifting focus toward institutional clients, financial infrastructure, and B2B services.
In the broader crypto industry, July 2026 has seen at least 12 companies report job cuts, with disclosed layoffs totaling 894 positions. CryptoJobsList has tracked more than 7,254 disclosed job cuts across 47 companies in 2026 alone. Among the other firms cutting jobs is crypto wallet company Exodus, which announced plans to reduce its staff by 25%, saying the restructuring could produce between $10 million and $13 million in annual operating savings. Blockchain infrastructure developer Gnosis also reduced its workforce in July following a review of its Gnosis App.