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  1. Polkadot has announced the launch of its cross-chain messaging system called ‘Cross-Consensus Messaging format (XCM)’. With this arrival, Polkadot has finally implemented the function of interoperability between its parachains. The newly launched XCM messaging system is intended to promote Polkadot’s multichain ecosystem and enable communication between parachains themselves as well as smart contracts. The system will eliminate the need for bridges and facilitate the movement of data and crypto-assets across Polkadot's parachains. https://cointelegraph.com/news/polkadot-launches-cross-chain-messaging-system-to-solve-blockchain-s-bridge-problem
  2. Today, the Hawaii State Senate has unanimously approved the launch of a specialised task force to explore the use and regulation of the crypto ecosystem through bill SB2695. The bill was co-signed by Sens. Donovan Dela Cruz and Rosalyn “Roz” Baker. Hawaii's bill seeks to determine how the state could regulate, oversee, and potentially use blockchain and cryptocurrencies. The task force is to study data from other states and develop "a plan to expand blockchain adoption in both the private and public sectors," among other things. The task force will be comprised of government officials and members of the Web3 space, plus professors from the University of Hawaii that specialise in digital currency. The task force will be dissolved after reporting its findings before the 2024 legislative session commences. https://decrypt.co/99372/hawaii-becomes-latest-state-to-approve-crypto-taskforce
  3. Dubai’s Virtual Asset Regulator VARA has reportedly bought virtual land in ‘The Sandbox’ metaverse to set up a virtual office called the ‘MetaHQ’. This makes VARA the first national regulator to do so. This news comes in the backdrop of many crypto firms and organisations increasingly making moves to the country due to its friendly crypto regulations. According to the statement issued by VARA, MetaHQ intends to provide digital users with virtual access to regulatory resources, something that will become vital as the metaverse and Web3 ecosystem develop. Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum stated, “By expanding VARA’s resources to a borderless audience through the Metaverse, Dubai is creating a prototype Decentralised Regulator Model, inviting international thought leaders – global authorities, governance custodians, and industry shapers – to participate, exchange knowledge, and problem-solve collectively so that we enable the dynamic virtual assets sector to build economic resilience, accelerate social inclusion, and address environmental sustainability,” https://blockworks.co/dubais-crypto-regulator-buys-land-in-the-metaverse-for-headquarters/
  4. According to a blog post yesterday, Kraken has opened the waitlist for its upcoming custodial NFT marketplace. Kraken’s marketplace seeks to democratise the experience of NFTs to a wider audience by allowing gas-free trades through its custodial model. Users of the platform can also view the rarity score of their NFTs directly on the platform and take out collateralised loans using the NFTs. According to the blog post, “This helps you build your dream collection with near-instant transfer speeds and the peace of mind that spikes in network activity will not impact the cost of your purchases and trades,” https://cointelegraph.com/news/kraken-nft-marketplace-opens-waitlist-for-beta
  5. Banco Galicia, Argentina’s largest private bank, and Brubank, an Argentine digital bank, have both integrated and enabled the trading of crypto assets on their website. The announcement comes after a recent survey by Banco Galicia revealed that nearly 60% of their customers wanted access to easy trading of digital assets via the banking platform. Both banks have been able to enable this feature due to a partnership with Argentine crypto wallet Lirium, which allows digital assets to be purchased through the same platform that clients use to buy bonds or stocks. https://www.bloomberg.com/news/articles/2022-05-02/two-argentine-banks-allow-customers-to-buy-cryptocurrencies
  6. The much-awaited debut of crypto ETFs in the Australian market seems to have been pushed off for later this week. According to the Australian Financial Review, the delay is being blamed on a "prime" or "executing" broker who has failed to approve the products due to a delay in appointing a market maker for the product's launch. According to a spokesperson from 21shares, “The delay is no fault whatsoever of 21Shares, the funds or the exchange. As crypto ETFs are completely new to Australia and the infrastructure is being built from the ground up, a service provider downstream needs more time to support the launch. The issue affects all fund managers equally and has caught everyone by surprise.” https://www.bloomberg.com/news/articles/2022-04-26/crypto-etfs-roll-out-in-australia-hits-snag-amid-inaugural-push
  7. According to a new report from Bitstamp, the vast majority of large investment firms are bullish on the future of crypto markets. According to Bitstamp’s survey, eight out of ten institutional investors predict that cryptocurrencies and blockchain will dominate traditional financial products within the next decade, however, only 54% of retail investors concur. The survey also notes that 88% of institutional investors and 75% of retail investors expect crypto will become mainstream in the same time frame. Interestingly, it appears that institutions are more trusting of cryptocurrency and related technology than retail investors. https://www.coinbureau.com/news/majority-of-major-investment-houses-bullish-on-crypto-new-bitstamp-report/
  8. Asset management behemoth BlackRock has launched its new iShares Blockchain and Tech (ILBC) exchange-traded fund (ETF). According to BlackRock, the new product seeks exposure to global companies at the forefront of blockchain and crypto technology development, innovation, and application. Notably, the ETF will not invest in cryptocurrencies directly but rather into companies involved in the industry. Along with the launch of its ETF, BlackRock produced a paper emphasising what it sees as imminent "permanent" changes to market economies, including the proliferation of blockchain technology. According to the report, “Digitisation has transformed nearly every facet of consumerism.” BlackRock’s new ETF comes as Fidelity also races to introduce crypto-focused ETFs. Last week, Fidelity released ETFs for its Fidelity Crypto Industry and Digital Payments Index (FDIG), and its Fidelity Metaverse Index (FMET). https://www.coinbureau.com/news/worlds-biggest-asset-manager-blackrock-lists-new-blockchain-etf/
  9. Gate Ventures, the venture arm of crypto exchange gate.io is all set to raise $200 million for its crypto fund by the end of Q3 2022. According to Kevin Yang, the managing partner of Gate Ventures, the fund will be focused on identifying and investing in alternative layer 1 and layer 2 protocols. Specifically, the firm is looking to invest in protocols that focus on cross-chain interoperability. The firm also has its eyes set on the blockchain gaming sector. According to Kevin Yang, “We have this vision that it will be a multi-chain and multi-layer future, with an open internet which also respects privacy,” https://www.coindesk.com/business/2022/04/29/gate-ventures-on-track-to-close-200m-crypto-fund-by-q3/
  10. The Fantom Foundation, the organisation behind the famous FTM token has now commented fully on the departure of advisor and ‘DeFi Godfather’, Andre Cronje, from the decentralised finance space. Recent days saw Cronje delete his social media and announce, via a friend, Anton Nell, that he would be permanently leaving the industry. Cronje and Nell were two of FTM’s most well-known developers and their departure has caused a disturbance in both price and community action. In the wake of a damning piece by Rekt, the Fantom Foundation responded with the following: “Andre and Anton did not ‘terminate’ 25 projects. Instead, any involvement (such as user interface) in these projects was to be handed over to the existing teams, many of whom had been developing and running independently.” The foundation further explained that neither Cronje nor Nell were ‘core’ developers for Fantom. Nonetheless, Fantom’s TVL appears to have fallen from $11.26 billion to $8.27 billion in the aftermath of the announcements. https://cointelegraph.com/news/fantom-foundation-issues-clarification-statement-about-departure-of-andre-cronje-and-anton-nell
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