DCG’s Luno planning public listing with a new CEO

Luno named a new CEO for the Luno crypto exchange, to raise new funds for the exchange.

Digital Currency Group (DCG) is a venture capital company focusing on the crypto market. This company has five subsidiaries: CoinDesk, Foundry, Genesis, Grayscale Investments, and Luno. Since Q4 2022, the financial position of DCG is not healthy citing the exposure of Genesis exchange with Gemini crypto platform & bankrupt crypto exchange FTX. 

Luno is a London-based cryptocurrency platform. This crypto company stated that Marcus Swanepoel, the current CEO of Luno, will step down from the CEO position to become an Executive Chairman. 

As per the announcement, James Lanigan, former  Chief Operating Officer of Luno, will take the CEO role. Under the leadership of James, Luno will raise funds from new Investors. With the new funding, Luno will go public. 

Marcus Swanepoel, a former South African banker who founded this exchange 10 years ago, said that he believes that new CEO James will surely help the platform to achieve the company’s goals. 

“The opportunity for crypto is bigger and brighter than ever, and James is a seasoned operator and an outstanding leader with a track record of success across all aspects of running a truly global fintech business,” Swanepoel said.

The upcoming new Luno CEO also said that he will help the company to raise funds and guide the company to guide the customers responsibly in their crypto journey. 

Crypto 2022 also brought huge losses for the Luno exchange, as crypto trading plunged badly in the crypto sector on all crypto trade platforms. Due to the bad economic situation in the world, many global companies reduced their workforce by very big numbers. 

Luno also reduced 10% of its staff in Q4 2022. Genesis, one of Luno’s sister companies, filed for bankruptcy in Jan 2023 under chapter 11 code.

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