Luno Cuts 20% of Global Staff in Pivot to Institutional Crypto
Crypto exchange Luno is laying off a fifth of its workforce, relying on automation as it turns away from retail trading.
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Key takeaways
- Luno is laying off 20% of its global workforce.
- CEO James Lanigan cited automation as a primary reason for the job cuts.
- The platform is shifting focus from retail trading to institutional infrastructure.
Luno is letting go of 20% of its global team. The crypto exchange blames two main factors: automated software replacing internal tasks, and a sharp pivot away from everyday retail traders.
CEO James Lanigan broke the news about the layoffs, explaining that automation is actively overhauling how the company handles internal operations. As part of the redesign, Luno is retreating from its retail trading focus to build out backend infrastructure for institutional clients instead.
Why it matters
Everyday retail trading swings wildly, but institutional infrastructure brings steady, high-value demand. Luno's move shows how exchanges are leaning on automated code to slice operating costs while chasing bigger institutional checks. If you trade on the app, expect far fewer consumer-facing updates—Luno is putting its resources elsewhere.
Source: Decrypt
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