GM, this is The Crypto Explorer, Let's face it, trying to keep up with crypto is like catching a greased-up pig.

Let’s do the chasing for you! 😀

Here’s what we got for you today:

• 💃 Binance Reverses Privacy Coin Delist!

• 😭 Robinhood Strikes Again with Layoffs.

• 🧱 Around The Block: Swiss central bank announces plans for wholesale CBDC pilot with ‘real money’.

💃 Binance Reverses Privacy Coin Delist!

Binance makes U-turn on its decision to delist privacy coins in the EU.

Binance had initially planned to delist privacy tokens for users in France, Italy, Spain, and Poland, preventing them from buying or selling 12 privacy tokens starting from June 26. (See affected tokens here)

But that has now changed!💃

In a statement made on June 26, Binance reversed that decision saying:

Hold your horses, though, because not all privacy tokens got lucky - Tokens like BEAM, XMR, MOB, FIRO, and ZEN are still subject to restrictions.

Looks like they're dancing to a different beat while the rest party on!😔

Following the reversal of the delisting decision, various projects took to Twitter to reassure their community members.

Verge Currency (XVG) posted an update on June 22 stating that $XVG will remain unaffected by Binance's trading restrictions on privacy coins in certain EU countries.

Similarly, the Secret Network also confirmed that it is among the currencies that will not be delisted.

Well, Binance, you sure know how to keep us on our toes! Just when we thought privacy coins were out of the picture, they come back like a cat with nine lives.😃

 😭 Robinhood Strikes Again with Layoffs.

Robinhood is back at it again with their third round of layoffs in just over a year.

Last year, the company reduced its workforce by 9% in April and an additional 23% in August due to declining trading activities and shrinking profit margins, resulting in the loss of more than 1,000 staff.

And now, they're back with another round of cuts!

The Company plans to lay off approximately 150 full-time employees, which accounts for around 7% of its total workforce.

Robinhood Chief Financial Officer, Jason Warnick revealed in an internal company message seen by The Wall Street Journal that the cuts were being made to “adjust to volumes and to better align team structures.”

On the other hand, a spokesperson for Robinhood did not confirm or deny the layoffs but only stated that the company is focused on achieving operational excellence and this means making necessary changes based on factors such as volume, workload, and organizational design.

Whatever the case may be, we can agree that this report will not turn out well for some people.😞

Now here’s the surprising thing about this whole thing -

News of the reported layoffs is coming just days after Robinhood acquired credit card firm X1 for a significant $95 million.

You'd think they're swimming in cash, right? Sadly, that’s not the case.

The Company’s Q1 2023 results disclosed a substantial 44% decline in monthly active users and a 30% year-over-year decrease in revenue.

But hey, it's not all doom and gloom.

Robinhood shares are currently trading at $9.63, moving up 18% for the year despite having fallen more than 82% from its all-time-high, notched in August 2021.

🧱 Around The Block: Swiss central bank announces plans for wholesale CBDC pilot with ‘real money’.

• 🏦CBDC Pilot: Swiss central bank announces plans for wholesale CBDC pilot with ‘real money’.

• ⚖️Binance Lawsuit: Judge denies motion from Binance regarding allegedly ‘misleading’ SEC statements.

• 💰Asset Recovery: FTX has recovered $7B in assets so far, has almost $2B to go to cover misappropriations.

• 🌏Binance AUS: Binance Australia got 12 hours' notice before it was debanked, says exec.

That's all we've got for you today.

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In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be NEW