DCG subsidiary Luno appoints a new CEO in preparation for public listing

DCG subsidiary Luno appoints a new CEO in preparation for public listing

The Luno cryptocurrency platform based in London announced that her long-time CEO Marcus Swanepoel will withdraw from his post to become executive Chairman. James Lanigan, who previously acted as a Chief Operating Officer of the company, will replace him.

The new boss will aim to procure funds from new investors (except DCG) and prepare Luno for possible listing.

• Marcus Swanepoel-a former banker from South Africa who founded Luno ten years ago- Data Preserver-Spaces = "True "> praised Platform help to achieve their main goals:

"The chance for crypto is greater and more shiny than ever, and James is an experienced operator and an outstanding manager with an outstanding balance in all aspects of leading a really global fintech business."

• The new CEO will set itself the goal of leading the global expansion of luno, increasing its market share and working on a possible listing. He will also try to procure funds from other investors than the parent company - the Digital Currency Group (DCG).

"I am passionate about helping Luno to continue to develop the products and services that our customers accompany our customers in a responsible way in every step of their crypto journey, while we at the same time maintain our commitment to trust, security and compliance," explained Lanigan.

• Despite the announced expansion plans, Luno did not start the year on the right foot, released more than a third of the entire workforce.
• The bear market and numerous negative events in 2022 had affected the “overall growth and sales figures” of the company and had become the main reasons for the layoffs.
• luno is under the roof of DCG, which was recorded by the FTX attachment. It released around 10 % of its employees towards the end of 2022 and closed its WEALTH management division.
• In addition, one of his other subsidiaries - Genesis - insolvency protection, while the co -founder of Gemini - Cameron Winklevoss - threatened to sue CEO Barry Silbert.

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