DCG-owned crypto trade Luno axes 35% of workers

Cryptocurrency trade Luno is the newest firm within the trade to make layoffs, getting down to lower 35% of its international workforce.

The London-based agency knowledgeable staff of the redundancies at 12 p.m. London time on Wednesday in a livestreamed city corridor.

“2022 has been an extremely powerful 12 months for the broader tech trade and particularly the crypto market,” the corporate mentioned in an announcement shared with CNBC Wednesday.

“Luno sadly hasn’t been resistant to this turbulence, which has affected our total progress and income numbers.”

Luno has a complete headcount of roughly 960, in accordance with its LinkedIn profile, that means that greater than 330 jobs might be impacted.

The corporate, which has places of work in Africa, South East Asia and Europe, is a part of the Digital Forex Group crypto conglomerate.

DCG is certainly one of a number of crypto corporations caught up within the fallout from the collapse of FTX, previously one of many world’s largest crypto exchanges. Genesis, the lending unit of DCG, filed for chapter final week.