Webull Is Bringing Back Crypto Trading in U.S. During 'Crypto Week' — Barrons.com

By Nate Wolf

The online investment platform Webull will back bring cryptocurrency trading for U.S. customers later this quarter.

The move will see Webull reintegrate its crypto unit Webull Pay LLC, which it spun off in July 2023. The company said it also will make crypto trading available in other markets later this year, though it didn't specify where. The service already was available in Brazil.

Webull stock was rising 5.9%.

Webull Group President Anthony Denier said "the improving clarity of cryptocurrency regulations" in the U.S. and abroad was a key driver of the decision. Congress currently is debating a trio of industry-backed bills to regulate digital assets during what has been dubbed "Crypto Week."

Webull, perhaps best known as an online brokerage in the mold of Robinhood, went public in April through a merger with a blank-check firm. The stock soared 375% on the first day of trading, but has since shed nearly all of those gains.

Write to Nate Wolf at nate.wolf@barrons.com

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