Total value locked across the crypto ecosystem is expected to reach an all-time high in the first half of next year, the report said.

The mining business is a standout in the sector in terms of exahash growth, operating performance and low power costs, the report said.

The number of institutional investors holding bitcoin ETFs rose 14% in the second quarter of the year to 1,100, the report said.

The ability to raise debt or equity in the world's deepest capital markets is a major advantage, the report said.

The total market cap of the fourteen publicly listed mining stocks the bank tracks fell 18% since the end of last month, the report said.

Stablecoin issuer Tether has attracted regulatory scrutiny in the past due to its lack of transparency about the composition of its reserves, the r

The share of stablecoins versus total cryptocurrency market capitalization is relatively unchanged this year, the report said.

Retail investors seems to have played large role in recent crypto selloff that saw sharpest correction since FTX, the bank said.

The company reported better-than-expected second-quarter earnings on Thursday but saw a strong downtick in revenue from transaction fees, its main