2026 cryptocurrency industry workforce restructuring
The developments in this story so far, most recent first.
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· date approximate · Development
Luno Cuts 20% of Staff as Crypto Layoffs Continue in July
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· date approximate · Background
South Africa's Discovery Bank began offering access to cryptocurrencies through Luno.
Discovery Bank in South Africa began offering customers access to over 50 cryptocurrencies through Luno starting in December 2025.
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· date approximate · Background
Luno cut 35% of its staff.
In January 2023, Luno underwent a significant restructuring by cutting approximately 35% of its global workforce. This move affected nearly 330 employees during what the CEO described as an "incredibly tough year."
The leadership attributed these layoffs to broader operational improvements and a strategic focus on investments in automation. These measures were intended to trim costs while the firm pivoted its focus toward institutional clients, financial infrastructure, and B2B services.
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· date approximate · Background
Digital Currency Group acquired Luno.
Luno was acquired by Digital Currency Group (DCG) in 2020.