Crypto exchange startup Luno's COO James Lanigan will step into the CEO role vacated by founder Marcus Swanepoel, who will transition into the executive chairman position. The move comes after it laid off 35% of its workforce in late January, citing market volatility.
- VC firm Digital Currency Group acquired Luno in 2020.
- Swanepoel was the firm's CEO for 10 years, and his transition is unrelated to the troubles faced by the firm recently.
- In the new role, he will guide Luno's strategy and focus on expanding the investor base.
- Luno roped in Canaccord Genuity Group to help it raise funding from external investors.
- Lanigan
is tasked with expanding operations internationally and increasing
market share as it gears up for an eventual public listing.
