The London-based cryptocurrency platform – Luno – introduced that its long-reigning CEO Marcus Swanepoel will step down from his put up to turn out to be an Govt Chairman. James Lanigan, who beforehand served because the agency’s Chief Working Officer, will substitute him.
The brand new boss will goal to boost funds from new traders (apart from DCG) and put together Luno for eventual public itemizing.
- Marcus Swanepoel – a South African former banker who based Luno ten years in the past – praised his successor, believing he may assist the platform obtain its main objectives:
“The chance for crypto is larger and brighter than ever, and James is a seasoned operator and an excellent chief with a observe report of success throughout all points of operating a very international fintech enterprise.”
- The brand new CEO will goal to information Luno’s international enlargement, improve its market share, and work on a attainable public itemizing. He may even search to boost funds from traders apart from the mum or dad firm – Digital Foreign money Group (DCG).
“I’m keen about persevering with to assist Luno construct the services and products that information our prospects in a accountable manner alongside each step of their crypto journey whereas sustaining our dedication to belief, safety, and compliance,” Lanigan acknowledged.
- Regardless of the introduced enlargement plans, Luno didn’t begin the 12 months off on the suitable foot, dismissing over a 3rd of its whole workforce.
- It stated the bear market and quite a few destructive occasions in 2022 have affected the agency’s “total progress and income numbers,” changing into the primary causes behind the layoffs.
- Luno is underneath the umbrella of DCG, which was caught up within the FTX contagion. It fired round 10% of its workers in the direction of the tip of 2022 and closed its wealth-management division.
- As well as, one in every of its different subsidiaries – Genesis – filed for chapter safety, whereas Gemini’s Co-Founder – Cameron Winklevoss – threatened to sue CEO Barry Silbert.
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