Crypto Exchange Luno Revamps Leadership Team in Quest for Investors

Cryptocurrency exchange Luno has reshuffled its leadership role a few months after its co-founder Timothy Stranex, who also served as its chief technology officer, left the company in December to focus on personal projects. 

According to the official press release, the exchange has appointed its CEO and co-founder Marcus Swanepoel as the new executive chairman, while its chief operating officer James Lanigan will replace Swanepoel as CEO. 

Before joining Luno in 2018, Lanigan held senior commercial, operational, and marketing roles across multiple industries, most recently as Chief Marketing Officer at the restaurant reservation platform TheFork, formerly Bookatable. 

Broaden Investor Base 

Swanepoel and Lanigan served in their previous positions in Luno for more than ten and five years, respectively. In their new roles, Swanepoel will work closely with Lanigan to achieve the company’s vision, which includes broadening its investor base.

“Co-founding and serving as the CEO of Luno for the past ten years has been the greatest honor of my career, and I’m excited about our next chapter as we continue to put the power of crypto in everyone’s hands,” said Swanepoel.

Luno Hires Canaccord Genuity Group 

Luno, owned by crypto conglomerate Digital Currency Group (DCG), aims to attract new institutional investors to help expand its business offerings and strengthen its foothold in the industry. 

DCG first invested in the exchange in 2014 during its seed round financing before purchasing it in 2020.

Luno also hired financial services firm Canaccord Genuity Group to help bring in new corporate investors in addition to DCG to support its expansion plans, accelerate market share gains and prepare the company for an eventual public listing.

Barry Silbert, Founder and CEO at DCG, said: “With James at the helm and a strategic partnership with Marcus in his new role as Executive Chairman, we look forward to supporting Luno in its ambitious and continued growth journey.”

Meanwhile, Luno is one of the many companies owned by DCG. Some of its other firms include CoinDesk, Grayscale Investments, Gemini, and Foundry.