Luno to retrench 35% of staff as ‘crypto winter’ drags on
The crypto platform will have a staff complement of about 700 globally after the job cuts
Luno, the global crypto currency trading platform founded by four South Africans, is retrenching 35% of its staff across all the regions in which it operates.
The crypto platform informed staff in January of the looming redundancies, which come amid general volatility in financial markets and a crypto winter sparked by a series of negative events in the digital token sector. The crypto sector saw a slew of scandals in 2022 ranging from the collapse of the Luna crypto network in May to the bankruptcy and downfall of crypto exchange FTX in November, which sent the price of digital assets into a downward spiral...
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