Cryptocurrency exchange Luno is downsizing its global workforce by 20% due to a decline in retail trading and a shift towards automation. Despite the layoffs, the firm will continue to invest in retail products, infrastructure, and regulatory compliance. This is Luno’s second major staff reduction in recent years as it balances its 16 million-user retail exchange with a white-label service for other businesses. The move reflects wider trends in the crypto industry.
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