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  • Writer's pictureAspen Digital
    • Apr 6, 2022
    • 2 min read

PwC Says 80% of Central Banks Are Considering CBDCs, Bitcoin Lightning Network Raises $70 Million

Updated: Apr 7, 2022

Daily Market Wrap

  • Crypto market cap: 2.09 trillion, down 3.40%

  • BTC price stands at USD 45,355, down 2.91%

  • ETH price stands at USD 3,355, down 4.90%

  • Top gainer: STEPN (GMT), up 9.28%

  • Top loser: Waves (WAVES), down 15.12%


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Why it matters:

  • CBDCs would allow for cost-effective, 24/7/365 cross-border transactions

  • In 2020, China became the first major economy to pilot a CBDC project for public use via the digital yuan

  • On the other hand, wholesale projects, which include digital currencies used by financial institutions that have accounts with central banks, are also being piloted; however, CBDC projects are maturing at a much faster rate


Crypto daily spotlight



Brief introduction: Taro, more formally known as Taproot Asset Representation Overlay, is an open-source protocol powered by the Lightning Network. Lightning is a Layer-2 payment protocol built on top of Bitcoin. Taro improves Bitcoin’s scripts and consequently, the network’s scalability, security and privacy. The improvements made by Taro are possible because of Taproot, a soft fork that allows for Bitcoin upgrades and was implemented in November 2021.


Why it matters:

  • Taproot’s upgrade includes main features: Schnorr signatures, Tapscript and Merkelized Abstract Syntax Trees (MAST)

  • The $70 million Series B funding round was led by Valor Equity Partners and global asset manager, Baillie Gifford

  • Taro’s security is based on embedded consensus, which means that transactions must be validated on the Bitcoin blockchain


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Daily News Roundup

  1. Overseas Singaporean Crypto Firms Must Be Licensed Under New Law https://bit.ly/3O2SH8b

  2. GameFi Platform and Play-to-Earn Guild Polemos Raises $14 Million in Seed Round at $100 Million Valuation https://bit.ly/3DI8owG

  3. Ledger Buys Virtual Land in The Sandbox https://bit.ly/3JiYdQ5

  4. Bitcoin Miner Riot Blockchain Mined 511 BTC in March https://bit.ly/35Kjjtd

  5. Layer-2 Ethereum Scaling Solution Boba Network Secures $45 Million in Funding https://bit.ly/35KpnSl


About Aspen Digital


Aspen Digital is a leading technology and financial services company with a mission to accelerate the mass adoption of digital assets. The company provides a digital asset management solution for asset managers, institutions, and sophisticated investors. Aspen Digital was co-founded by digital assets innovators and asset management veterans at Everest Ventures Group (“EVG”) and TT Bond Partners (“TTB”) in 2021.


For more information, please visit https://www.aspendigital.co/


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