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- Luno cut 35% of its workforce, citing an "incredibly tough year" for cryptocurrency markets.
- The company maintains that customer funds are safe and the exchange's operations will continue normally.
- There has been a slew of crypto layoffs recently, including cuts at Coinbase and Genesis.
Luno, the crypto exchange owned by Digital Currency Group (DCG), laid off 35% of its workforce on Wednesday, citing harsh market conditions that impacted growth and revenue.
"2022 has been an incredibly tough year for the broader tech industry and in particular the crypto market," the company said in a statement shared with Insider. "Luno unfortunately hasn't been immune to this turbulence."