{"id":73078,"date":"2023-01-25T19:50:38","date_gmt":"2023-01-25T17:50:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73078"},"modified":"2025-09-09T12:06:22","modified_gmt":"2025-09-09T09:06:22","slug":"dcg-backed-luno-to-cut-35-of-staff","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/dcg-backed-luno-to-cut-35-of-staff\/","title":{"rendered":"DCG-backed Luno to cut 35% of staff"},"content":{"rendered":"

London-based cryptocurrency exchange Luno, part of Barry Silbert’s Digital Currency Group (DCG), plans to cut 35% of its staff. This was disclosed by the platform’s CEO Marcus Swanepoel, according to CNBC<\/a>.<\/p>\n

The publication reports that the company employs about 960 people, meaning more than 330 roles will be affected.<\/p>\n

\n

“2022 was an incredibly difficult year for the tech industry as a whole and the crypto markets in particular. […] Unfortunately, Luno has not been insulated from the turbulence that affected our growth and revenue figures,” the company said.<\/p>\n<\/blockquote>\n

According to a spokesperson for the exchange, the cuts will barely affect “key operations groups and compliance teams.” Luno maintains offices in Europe, Southeast Asia and Africa.<\/p>\n

In January, the DCG-backed crypto-lending platform Genesis Global Capital filed for bankruptcy<\/a> amid fallout from the collapse of the hedge fund Three Arrows Capital<\/a> in June and the collapse of FTX<\/a> in November 2022.<\/p>\n

If in the first case the parent DCG provided support of $1.1 billion, the second attempts to attract external financing failed<\/a>. In early 2023, the platform cut 30% of its staff<\/a>.<\/p>\n

In November 2022, Luno excluded<\/a> the possibility that the Genesis Global Capital crisis would affect its business.<\/p>\n

Read ForkLog’s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

London-based cryptocurrency exchange Luno, part of Barry Silbert’s Digital Currency Group (DCG), plans to cut 35% of its staff, according to Marcus Swanepoel, the platform’s CEO.<\/p>\n","protected":false},"author":1,"featured_media":73079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[184,1380,1929],"class_list":["post-73078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dcg","tag-genesis-global-capital","tag-luno"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=73078"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73078\/revisions"}],"predecessor-version":[{"id":73080,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/73078\/revisions\/73080"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/73079"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=73078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=73078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=73078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}