Overview of Key Overnight Developments on July 2

21:00-7:00 Keywords: Hashrate, Paxos, Circle

1. Bitcoin hashrate drops to December 2022 levels;

2. Paxos receives approval from the Monetary Authority of Singapore to issue stablecoins;

3. Analysis: Coinbase premium index indicates Bitcoin price may have bottomed out;

4. Bloomberg ETF analyst: GBTC and EETH had returns of 62% and 44% respectively in the first half of the year;

5. US Democrats consider nominating Biden early to quell intra-party discussions about replacing the presidential candidate;

6. Circle co-founder: USDC and EURC are now compliant with the EU's new stablecoin regulations MiCA;

7. US DOJ pays Coinbase $32.5 million for cryptocurrency custody and trading services;

8. US SEC confirms receipt of Hashdex Nasdaq Crypto Index US ETF's 19b-4 application;

9. Silvergate to pay $63 million to settle with the US SEC, Federal Reserve, and California regulators.