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DCG subsidiary Luno lays off 35% of employees (report)

Luno, a London-based cryptocurrency platform, will reportedly cut the size of its team by more than 330 people.

The company adds its name to the list of industry players laying off staff due to the bear market, including Coinbase, Crypto.com, Bybit, Huobi and Gemini.

  • According to CNBC coverageLuno will reduce its workforce from 960 to about 630.

“2022 has been a very tough year for the broader tech industry, and the crypto market in particular. A spokesperson for the trading floor said.

  • Some other cryptocurrency exchanges already enforce redundancy. coin base It laid off 18% last year and laid off another 950 earlier this month. Bybit (30%), Huobi (30%), BitMEX (30%), and crypto dot com is also a member of the club.
  • Luno is part of the beleaguered digital currency group. Headquartered in London, it has offices in Europe, Africa and Southeast Asia.
  • DCG – one of many cryptocurrency entities caught in FTX domino effect – Multiple issues need to be addressed.
  • We laid off 10% of our workforce last year, closed its asset management department. His one of its subsidiaries – Genesis – submitted For bankruptcy protection, Gemini co-founder Cameron Winklevoss threatened to sue CEO Barry Silbert.

“Unless Barry and DCG come to their senses and offer their creditors a fair offer, we will take action against Barry and DCG as soon as possible,” he said.

  • Winklevoss previously claimed that Digital Currency Group owed Genesis more than $1.6 billion and accused Silbert of causing the “disruption.”He also urged The DCG board will remove him immediately.
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https://cryptopotato.com/dcg-subsidiary-luno-lays-off-35-of-employees-report/ DCG subsidiary Luno lays off 35% of employees (report)

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