WhiteboardCrypto Newsletter - June 22

Welcome back to this week's edition of our WhiteboardCrypto Newsletter!

Circle’s Programmable Wallets now on Solana

Circle has made its Web3 services available on Solana, which is great news for developers. This includes easy-to-use tools for creating dapps, like Programmable Wallets and the Gas Station feature. These tools help manage things like security and transaction fees. Future updates will add support for NFTs and more complex smart contracts.

Learn more here.

Ronin levels up

Using a modified version of Polygon’s CDK, the Ronin Network, the layer 1 that’s home to Axie Infinity and other games, has launched Ronin zkEVM. This will allow the creation of layer 2s on its blockchain, which will help solve the problem of blockspace demand, speed and transaction cost of having on-chain games on the layer 1.

Learn more here.

Bitcoin code controversy

There’s controversy around reactivating OP_CAT, a Bitcoin script opcode initially proposed by Satoshi but removed in 2011 due to security concerns, including the potential for MEV attacks. OP_CAT, which allows data concatenation (combining data) within transactions, could enable advanced features like secure vaults and automated payments, and some people speculate it might help with layer 2s on Bitcoin.

Learn more here.

SEC dropped investigation into Consensys

The US SEC’s securities violation investigation into Consensys, the company behind Metamask, has been closed, but they left the door open for future investigations if needed. Back in April, Consensys sued the SEC to get an answer about whether ETH is a security. They claimed that since ETH ETFs were approved, that makes ETH a commodity. The SEC should admit that the sales of ETH are not securities transactions. It seems the agency agrees, at least for now.

Learn more here.

Certik drained $3m from Kraken but returned it

CertiK and Kraken have resolved their dispute over a bug bounty incident. CertiK, a blockchain security firm, returned nearly $3 million to Kraken after a public disagreement. The issue started when CertiK found a vulnerability in Kraken's system and moved funds, claiming it was for security purposes. Kraken accused CertiK of not following proper disclosure practices and demanding a ransom. Both sides have now settled, with Kraken confirming the return of funds minus some fees.

Learn more here.

And for something a little fun, folks are going through the Ethereum history to find the on-chain messages, including love letters, song lyrics, obituaries, and more.

Thanks for reading and I hope you learned something!

- Theodore