Crypto exchange Luno is reportedly reducing its global workforce by approximately 20%, becoming the latest digital asset company to restructure operations as automation, cost efficiency and changing market conditions reshape employment across the crypto sector.
The layoffs come amid a broader wave of industry restructuring, with at least 12 crypto and crypto-adjacent companies reporting workforce reductions during July.
Luno Shifts Focus Towards Institutional and B2B Services
According to a Bloomberg report, Luno CEO James Lanigan said investments in automation and improvements to the company’s operating model have changed the level of staffing required to run the business.
The restructuring will allow Luno to reduce costs while directing more resources towards strategic areas including institutional customers, financial infrastructure and business-to-business services.
At the same time, the exchange plans to continue investing in compliance, core infrastructure and its retail products.
The move indicates that Luno is not simply reducing expenses but repositioning its business as crypto exchanges increasingly look beyond retail trading for sustainable revenue.
Automation Changes Luno’s Staffing Requirements
Automation appears to be an important factor behind the restructuring.
Like many technology and financial companies, Luno has been investing in systems capable of improving operational efficiency and reducing the amount of manual work required across the organisation.
As those systems become more capable, the company said its resource requirements have changed.
The explanation reflects a wider shift across the technology industry, where AI and automation are increasingly influencing workforce structures as companies attempt to operate with leaner teams.
Luno Has Restructured Before
This is not Luno’s first major workforce reduction.
In January 2023, the company cut approximately 35% of its workforce, affecting nearly 330 employees.
Those reductions came during a difficult period for the broader cryptocurrency and technology sectors, when declining digital asset prices and weaker investor sentiment placed significant pressure on industry revenue.
The latest restructuring is smaller in percentage terms but arrives at a different stage of Luno’s development.
Founded in South Africa and owned by Digital Currency Group, Luno now serves approximately 16 million users across Africa and the Asia-Pacific region.
While historically known primarily as a retail cryptocurrency exchange, the company has increasingly expanded into infrastructure and institutional services, including providing crypto technology to banks and fintech companies.
Crypto Layoffs Accelerate Across the Industry
Luno’s workforce reduction forms part of a broader restructuring trend across the digital asset sector.
According to employment tracker CryptoJobsList, at least 12 crypto and crypto-adjacent companies announced layoffs or restructuring programmes during July, with disclosed figures representing approximately 894 affected jobs.
Across 2026, the tracker has recorded more than 7,254 disclosed job cuts across 47 companies.
Market conditions remain the most frequently cited reason for reductions, although automation, artificial intelligence and operational efficiency are becoming increasingly prominent explanations.
The figures should be viewed as an industry indicator rather than a precise crypto-only employment total. The dataset includes crypto-adjacent financial technology businesses and has been heavily influenced by large individual restructuring programmes.
Exodus Cuts 25% as Stablecoin Strategy Expands
Crypto wallet company Exodus was among the companies announcing significant reductions during July.
The company said it planned to reduce its workforce by approximately 25% while reorganising its operations around a full-stack card issuance and stablecoin payments platform.
Exodus estimated that the restructuring could generate between $10 million and $13 million in annual operating savings.
The move demonstrates how workforce reductions are increasingly occurring alongside strategic repositioning rather than simply reflecting declining business activity.
Companies are concentrating resources around areas they believe have stronger long-term growth potential, particularly stablecoin payments, institutional infrastructure and blockchain-based financial services.
Gnosis Also Restructures Workforce
Blockchain infrastructure developer Gnosis has also undergone restructuring.
The company said on July 17 that it had reduced its workforce following a review of its consumer-facing Gnosis App.
Gnosis subsequently invited companies recruiting across engineering, product, design, marketing, developer relations and customer-facing roles to contact the organisation for introductions to former employees affected by the restructuring.
The move adds another major blockchain organisation to the growing list of companies reassessing staffing levels and product priorities.
Crypto Companies Enter an Efficiency-Driven Phase
The latest layoffs suggest the crypto employment market is undergoing a structural change.
During previous industry downturns, workforce reductions were often primarily responses to falling token prices, declining trading volumes or financial distress.
The current cycle appears more complex.
Companies are simultaneously reducing headcount while investing in automation, AI, stablecoin infrastructure, institutional products and B2B financial services.
That combination suggests parts of the industry are moving away from growth based primarily on expanding teams and towards operating models focused on capital efficiency and automation.
For Luno, the restructuring reflects this transition clearly: fewer employees, greater automation and increased emphasis on institutional infrastructure.
As similar strategies spread across the sector, the next phase of crypto industry growth may depend not only on how much capital companies raise or how many users they acquire, but on how efficiently they can convert technology, infrastructure and smaller teams into sustainable businesses.
