Luno cuts 20% of staff as crypto layoffs spread across 12 firms in July
CoinTelegraph·
60-second summary
Luno is cutting 20% of its staff as crypto layoffs spread across 12 firms in July, joining a widening round of crypto restructurings. The job cuts come amid a challenging market, with the global crypto market capitalization plummeting to $1.2 trillion from its 2021 peak of $3 trillion. Industry implications are mounting, with investors reevaluating their exposure to the sector.
Luno and Gnosis joined a widening round of crypto restructurings in July, when at least 12 companies reported job cuts.