Webull Posts Record $198 Million Q2 Revenue as Crypto Contributes 1%

Webull is an online brokerage focused on mobile trading, with revenue generated from transactions, interest income and other financial services. Cryptocurrency remains a small part of the company’s business, but its performance offers a gauge of whether renewed retail demand for digital assets can become an additional growth driver as brokerages broaden their crypto offerings.

Webull reported record second-quarter revenue of $198 million, with cryptocurrency trading generating about $2.25 million, or slightly more than 1% of the total. Company executives said the crypto business was beginning to show signs of improvement. Webull is also continuing a phased rollout of cryptocurrency deposit and withdrawal functions, expanding the service beyond trading alone.