# Privacy Matters, 49 By [Automata Network](https://paragraph.com/@automata-network) · 2024-06-25 --- gm, readers. At [Automata](https://www.ata.network/) we work on protecting privacy and fairness. And in this newsletter, we find more reasons to talk about it. Explore headlines and catch up on the biggest crypto news in Web3 privacy. **This week:** * Samourai wallet [shutdown](https://cointelegraph.com/news/samourai-wallet-shutdown-implications-for-other-privacy-self-custody-tools) and legal implications for privacy tools * Manta Network [launches](https://cointelegraph.com/news/zero-knowledge-manta-network-50-million-ecosystem-fund) $50M ecosystem fund to boost ZK projects **Zooming into ZK:** * 41% of top zkSync airdrop wallets [sell](https://cointelegraph.com/news/top-zk-token-airdrop-recipients-sell-first-day-nansen) entire allocation, leading to significant price drop * zkSync Era's airdrop [fails](https://www.theblock.co/post/300746/zksync-eras-airdrop-fails-to-halt-decline-in-transactions-and-active-addresses) to revive declining user activity and transactions * zkSync token [launches](https://www.theblock.co/post/300389/zksync-live-mcap-airdrop) with $925M market cap amid network strain and security threats; [Defends](https://cointelegraph.com/news/zksync-defends-sybil-measures-binance-does-zk-airdrop) sybil measures amid airdrop controversy; Binance offers alternative distribution * Ronin [unveils](https://cointelegraph.com/news/ronin-launch-zkevm-web3-gaming) zkEVM to scale Web3 gaming ecosystem, prepares for billions of transactions **Conversations you missed:** * [Scaling](https://www.theblock.co/post/300137/the-scoop-lens-network) Web3 social: Stani Kulechov on Lens Network's integration with ZKsync technology [Subscribe](null) **We dive into the details, so you don’t have to:** Ronin, the gaming blockchain developed by Sky Mavis for Axie Infinity, has announced the upcoming launch of Ronin zkEVM, a ZK Ethereum Virtual Machine Layer-2 chain using a modified version of the Polygon Chain Development Kit. This new zkEVM chain aims to handle billions of transactions, supporting a broader gaming ecosystem and facilitating game studio growth. With 1.4 million daily active addresses, Ronin plans to enhance scalability, enabling third-party builders to launch their own layer-2 blockchains. [![User Avatar](https://storage.googleapis.com/papyrus_images/f57ffe92f9b6810d53328374726fb6f9485aa23266f912e4ac212591ccc3855f.jpg)](https://twitter.com/Ronin_Network) [Ronin](https://twitter.com/Ronin_Network) [@Ronin\_Network](https://twitter.com/Ronin_Network) [![Twitter Logo](https://paragraph.com/editor/twitter/logo.png)](https://twitter.com/Ronin_Network/status/1803065773197258800) BREAKING: LAYER 2 BLOCKCHAINS ARE COMING TO RONIN! Introducing Ronin zkEVM ![⚔️](https://abs-0.twimg.com/emoji/v2/72x72/2694.png) • In the near future, Ronin builders will be able to leverage the [@0xPolygon](https://twitter.com/0xPolygon) Chain Development Kit (CDK) to create their own zkEVM layer 2 (L2) chains on Ronin and permissionlessly deploy their games ![](https://storage.googleapis.com/papyrus_images/ecc7e60aaf034b9a24838d2e9efd7bca1a6a5aff19306c4d9d0eaf61b7c7c109.jpg) [![Like Icon](https://paragraph.com/editor/twitter/heart.png) 4,180](https://twitter.com/Ronin_Network/status/1803065773197258800)[ 9:02 AM • Jun 18, 2024 ](https://twitter.com/Ronin_Network/status/1803065773197258800) In the aftermath of zkSync's ZK token launch on June 17 across major exchanges including Binance, Bybit, Gate.io, and KuCoin, blockchain analytics from Nansen indicate that 41% of the top 10,000 addresses promptly sold their entire ZK allocations, leading to a significant 34.5% price decline. Despite this sell-off, 30% of top wallets retained their tokens, while the token's market cap fell from $1.1 billion to approximately $772 million, with only 17.5% of its total supply currently circulating. Criticism of zkSync's airdrop criteria focused on perceived weaknesses in Sybil attack prevention. The shutdown of Samourai Wallet, following the arrest of its founders for charges including money laundering and operating an unlicensed money-transmitting business, raises significant legal questions for the cryptocurrency sector. Known for its privacy-enhancing features like Ricochet and Whirlpool, Samourai Wallet's closure amid U.S. regulatory action underscores potential repercussions for other self-custodial tools. The case highlights debates over the definition of money transmission and the responsibilities of developers in facilitating privacy and anonymity in cryptocurrency transactions, amid ongoing regulatory scrutiny and enforcement efforts. Connect with Automata on both [X (Twitter)](https://ata.ws/twitter) and [Discord](https://ata.ws/discord). This newsletter is for informational purposes only. It is not intended to be a substitute for professional financial advice or interpreted as investment advice. Cryptocurrencies are volatile assets and you should always do your own research before making any informed decisions when investing or trading. --- *Originally published on [Automata Network](https://paragraph.com/@automata-network/privacy-matters-49)*