Crypto exchange Luno is cutting 20 percent of its workforce

Cryptocurrency exchange Luno said in a statement that it is cutting 20 percent of its workforce worldwide. The news was carried in Persian-language media on Friday, 31 July 2026 (9 Mordad 1405), and comes just three weeks after three exchanges, AscendEX, BitMEX and BitMart, ceased operations.

Luno chief executive James Lanigan described the decision as part of a cost-reduction plan and a sharper focus on institutional clients, saying it is not a sign of distress. According to him, the exchange intends to direct the freed-up resources to infrastructure development, regulatory compliance and service expansion, while strengthening its presence in the African market.

The coincidence of the job cuts with the shutdown of several exchanges has again drawn market attention to pressure from new regulation, falling exchange revenue and intense competition in the centralised exchange segment. The news does not in itself put direct pressure on the price of bitcoin or altcoins. According to earlier CoinGecko data from the early hours of the same day, bitcoin was trading at 64,748 dollars and ether at 1,921 dollars.