4 February

The gaming retail giant said Thursday it tapped the layer 2 system, to be used atop Ethereum, because of Immutable’s ‘zero gas fees for trading and minting NFTs in a carbon-neutral environment. The marketplace is tapping Starkware for help with its back end, which is a zero-knowledge proof technology that can combine thousands of Ethereum transactions into one.

GameStop plans for its marketplace to include ‘billions of low-cost, in-game assets that can easily be bought and sold,’ specifically mentioning digital real estate and in-game skins.

Along with the marketplace news, GameStop and Immutable announced the launch of a $100 million fund dedicated to supporting Web 3 game development in its ecosystem. The fund aims at attracting game developers and studios to the marketplace.”

See Also: Who’s Using the Metaverse? Poker Players in Decentraland

“The Federal Reserve Bank of Boston and MIT’s Digital Currency Initiative published open-source research software to support a “theoretical” central bank digital currency on Thursday. The Boston Fed and MIT have been jointly researching CBDCs for nearly two years. Thursday’s publication brings the central bank one step closer to a technical framework that could support a U.S. CBDC.

Thursday’s publication, which includes OpenCBDC and a research paper, explain that the Boston Fed was able to develop “a core processing engine” for a general purpose CBDC that could support nearly two million transactions per second with high-speed settlement finality.

Developing OpenCDBC was only the first phase of the project. Phase two will test the different designs and features not included in phase one, as well as assess what, if any, trade-offs there might be with different sets of features. Privacy and interoperability are two of the issues to be analyzed in phase two.”

See Also: Russia’s Minister of Finance Suggests Letting Banks Sell Crypto: Report

“Canada-based Purpose Bitcoin ETF attracted over $38 million worth of Bitcoin (BTC) this Tuesday, its third-largest daily inflow to date. That suggests that Purpose ETF investors have been buying the Bitcoin dip.

It continues to suggest investors are beginning to cautiously add to positions at these depressed price levels.”

Wormhole’s parent company has stepped in to prevent chaos across the Solana DeFi landscape.

In a tweet this morning, Wormhole confirmed that funds had been restored and that the bridge’s operations had resumed after the attack vector had been patched. The Wormhole team said that a disclosure report is forthcoming.

Daddy Jump has a lot of money.”

See Also: Solana’s SOL Tumbles 10% After $326M Wormhole Exploit

“Yuga Labs, the startup behind Bored Ape Yacht Club, is in talks with venture capital heavyweight Andreessen Horowitz (a16z) over a funding round that would give it a valuation as high as $5 billion.”

The fundamental point of contention underlying the lawsuit is the classification of staking rewards as either taxable income or created property, which is not taxed until it is sold. The Tezos bakers argue that earning coins by staking is akin to baking a cake or writing a book, and thus these coins should not be treated as taxable income.

On Thursday, Joshua Jarrett released a statement that the U.S. Government has offered a refund of the taxes in question as part of the settlement. [However], without a court ruling there would be nothing to prevent the tax service from taxing his staking rewards again.

I need a better answer. So I refused the government’s offer to pay me a refund.

Jarrett’s goal is to get the IRS to clarify its position on taxing staking and block rewards for both proof-of-stake and proof-of-work systems.”

Bloomberg: This State is Becoming America’s Crypto Capital