Luno crypto exchange announces job cuts affecting 35% of employees

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Luno crypto exchange announces job cuts affecting 35% of employees
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Luno, a cryptocurrency exchange owned by Digital Currency Group, announced a large round of job cuts on Wednesday, which will affect 35% of the firm's headcount.

"Turbulence" has, according to Swanepoel, affected Luno’s "overall growth and revenue numbers," prompting layoffs and other measures.

" an "even bigger downturn in the tech sector overall," a "crypto winter" and recent events in the crypto industry that have harmed it. One of the "shocks" was the recent, rapid collapse of exchange FTX.

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