Luno cuts 20% of staff as crypto layoffs spread across 12 firms in July

Luno's rationale for the layoffs reflects a wider industry trend. Several crypto companies now cite AI, automation and operational efficiency when cutting staff.

Jobs tracker CryptoJobsList recorded layoffs or restructurings at 12 crypto and crypto-adjacent companies in July, with disclosed figures totaling 894 jobs affected. CryptoJobsList has tracked more than 7,254 disclosed job cuts across 47 companies in 2026, with market conditions cited most often as the reason.

The data serves as a broad industry indicator rather than a definitive crypto-only total. It includes adjacent financial technology companies and is heavily skewed by Block's 4,000-person reduction in February.

Earlier in July, crypto wallet company Exodus announced plans to cut 25% of its staff while reorganizing around a full-stack card-issuance and stablecoin-payments platform. Exodus said the move could produce between $10 million and $13 million in annual operating savings.

On Tuesday, blockchain infrastructure developer Gnosis invited companies hiring across engineering, product, design, marketing, developer relations and customer relations to contact it for introductions to former employees affected by a recent restructuring. The company said on July 17 that it had reduced its workforce following a review of its consumer-facing Gnosis App.