Luno Exchange Lays Off 20 Percent of Staff

Crypto exchange Luno is cutting its global headcount by 20 percent. CEO James Lanigan stated that the decision follows a strategic shift in how the company operates. The firm intends to rely more on automation to manage its day to day business functions.

This move marks a significant change for the platform as it moves away from a primary focus on retail trading. Luno is shifting its resources toward building out new institutional infrastructure. The exchange aims to cater more effectively to professional clients and large scale investors moving forward.

Industry watchers are keeping an eye on how this staffing change impacts user experience. Many exchanges are currently tightening their operations to stay competitive in a challenging market. Luno investors will be looking for signs that these efficiency improvements actually pay off in the coming months.