US Trading App Webull Launches Crypto Service in Australia to Challenge Incumbents► https://t.co/DfaATPfX0A https://t.co/DfaATPfX0A ...

Regulatory Landscape & Institutional Activity - President Trump removed Fed Governor Lisa Cook from the Board of Governors [1] - SEC Crypto Task Force discussed tokenization of traditional assets with Kraken, including proposals for tokenized trading systems and regulatory frameworks [1] - World Federation of Exchanges urged regulators to crack down on tokenized stocks due to lack of equivalent rights and safeguards compared to equities [2] - Canary filed for an "American-Made Crypto ETF" focused on coins developed, mined, or operated in the US [3] Investment & Holdings - Pantera Capital plans to raise up to $1.25 billion to convert a public company into a Solana investment firm [1] - UAE government holds approximately 6,300 BTC, equivalent to ~$740 million, making it the fourth-largest state Bitcoin holder [2] - BitMine increased its ETH holdings by 190,500 ETH last week, reaching a total of 1.71 million ETH worth $8.8 billion [4] - Strategy added 3,081 BTC, now holding 632,457 BTC worth $46.5 billion [4] Market Expansion & Product Development - Gemini introduced the XRP Credit Card [4] - Webull reopened crypto trading to US users [4]

🇺🇸 UPDATE: Webull reopens crypto trading to US users, per BBG. https://t.co/ErxgOLeOI9 ...

Core Viewpoint - Webull has reintroduced cryptocurrency trading for U.S. residents, allowing users to manage their Webull Pay accounts directly within the Webull app, enhancing the trading experience and streamlining account management [1][3]. Group 1: Cryptocurrency Trading Features - Users can now trade over 50 digital assets, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), with seamless, 24/7 real-time trading capabilities [2]. - The integration of crypto trading into the Webull app aims to provide a centralized platform for managing various investment opportunities, including stocks, options, and digital assets [3]. Group 2: Company Statements and Future Plans - Anthony Denier, U.S. CEO and Group President at Webull, emphasized the mission to deliver a user-centric investing experience by reducing friction in accessing and managing investment portfolios [3]. - Stephen Yip, CEO of Webull Pay, highlighted the importance of cryptocurrencies in diversified investment strategies and expressed excitement about the unified trading experience [3]. - Currently, crypto trading is available only in the U.S. and Brazil, with plans for additional market rollouts in the coming months [3]. Group 3: Company Overview - Webull is a leading online investment platform that provides users with advanced charting tools, real-time market data, and low-cost trading across various asset classes, including securities, options, and futures [5][6]. - The platform serves over 24 million registered users globally, offering 24/7 access to financial markets and integrating market data, user community, and educational resources [6].

JUST IN: 🇺🇸 Webull to allow U.S. customers to buy Bitcoin and crypto again.They previously dropped the service due to regulatory concerns in 2023. https://t.co/fr5YgsxzmG ...

Crypto Trading Services - Webull 将恢复为美国客户提供的加密货币交易服务 [1]

Webull will let US customers buy and sell cryptocurrencies on its trading platform again after dropping the service in 2023 when it was trying to go public https://t.co/IgsYrQpHIc ...

Core Insights - Futu Holdings Ltd. has experienced significant stock price appreciation, more than doubling since the start of the year, driven by strong revenue and profit growth from increased trading volumes [2][8] - The company reported impressive business metrics, with revenue rising 70% year-on-year to HK$5.31 billion ($680 million) in the second quarter, although this was a decrease from the 81% growth in the first quarter [9][10] - Futu's trading volume for U.S. stocks rose 19.7% quarter-on-quarter, while trading volume for Hong Kong stocks fell 9% quarter-on-quarter, indicating a shift in investor interest [11] Financial Performance - Broker commissions and handling charges increased by 87% year-on-year to HK$2.58 billion, accounting for nearly half of total revenue, supported by a 121% surge in trading volume [10] - Net income rose 113% to HK$2.57 billion, with costs rising only 16.8% year-on-year, demonstrating effective cost management relative to revenue growth [15] - Interest income also grew by 44% year-on-year to HK$2.29 billion, aided by the presence of "hard to borrow" stocks in Futu's portfolio [12] Market Position and Analyst Sentiment - Futu's stock is favored among analysts, with 13 out of 14 recommending a "buy" or "strong buy," although the stock's recent performance has outpaced analysts' price targets [6][7] - The stock trades at a price-to-earnings (P/E) ratio of 30, significantly higher than its peers, indicating a premium valuation [7] - The company achieved a milestone with over half of its funded accounts coming from clients outside Hong Kong, reflecting its expanding international presence [14]

Financial Performance - Total revenues were $577.9 million, a 13.3% year-over-year increase, but down 46.2% quarter-over-quarter due to market conditions[45, 58] - Crypto services revenue was $568.1 million[45, 69] - Loyalty services revenue was $9.8 million, down 23.3% year-over-year but up 6.8% quarter-over-quarter[46, 69] - Total operating expenses were $596.4 million, up 12.1% year-over-year and down 45.5% quarter-over-quarter[54, 58] - Adjusted EBITDA loss was $12.6 million, improved 29.9% year-over-year[62, 63] Key Metrics - Crypto trading volume increased 14% year-over-year and 69% since Q2 2023[36] - Quarterly notional crypto traded volume reached $565 million in Q2 2025[39, 42] - Assets under custody were $1,355 million[44] Strategic Initiatives - Bakkt is realigning as a pure-play crypto infrastructure company, including the divestiture of non-core assets like the Custody business[10] - The company is focusing on three pillars: Brokerage-in-a-box, Stablecoin Payments, and Bitcoin treasury strategy[11, 12] - Bakkt initiated a Bitcoin treasury strategy with a 30% ownership stake in MarushoHotta Co (MHT), rebranding it to bitcoin.jp[26, 27, 30]

Core Insights - Coinbase is optimistic about its derivatives business roadmap, having recently launched its first perpetual contract product for U.S. retail users, with trading volume doubling week-over-week and significant growth in open interest [1][18] - The company is focusing on enhancing liquidity and trading volume in the short term, rather than immediate profitability, with plans to provide further details on revenue contributions in upcoming quarters [1][18] - Coinbase emphasizes collaboration with traditional financial institutions like Visa and Mastercard rather than competition, while also acknowledging the competitive landscape posed by decentralized protocols [1][9] Derivatives Business - Derivatives trading accounts for 75% of the cryptocurrency market, with over 90% of this activity occurring overseas [1][18] - In Q2, Coinbase reported over $1 trillion in derivatives trading volume and a record open interest of $1 billion, indicating significant progress in this area [1][18] Strategic Partnerships - Coinbase is expanding its market reach through partnerships, such as with PNC Bank and Shopify, to provide infrastructure and services to businesses entering the crypto space [5][6] - The company aims to integrate its services into major financial institutions, allowing them to leverage Coinbase's expertise without building their own complex systems [5][14] Stablecoin and Payment Solutions - The stablecoin market has seen rapid growth, with annual transaction volume increasing from nearly zero two years ago to approximately $100 billion [7][10] - Coinbase's payment solutions include a full-stack approach with low transaction fees and partnerships with trusted stablecoin providers like Circle [8][10] Tokenization and Securities - Coinbase is excited about the potential of tokenized securities, which could revolutionize the financial system by enabling real-time settlement and 24/7 trading [3][11] - The company is exploring opportunities in the tokenized securities market, although specific timelines for implementation remain unclear [3][11] User Experience and Security - Following a recent data breach, Coinbase is focusing on improving customer service and security measures, including bringing more processes in-house and investing in automation and AI [19] - The company is also enhancing its customer support infrastructure to better handle user inquiries and improve overall satisfaction [19]