Digital investment brokerage Webull Corporation faced significant obstacles in its quest to go public, largely attributed to its cryptocurrency offerings, as disclosed by the company’s U.S. CEO on Wednesday.

The online brokerage, aiming for a U.S. listing through a merger with special purpose acquisition company (SPAC) SK Growth Opportunities Corp. SKGR, has seen its journey marked by regulatory challenges and strategic shifts, particularly around its crypto operations.

The proposed merger, valuing the combined entity at approximately $7.3 billion, is set to elevate Webull onto the Nasdaq, contingent upon approval from shareholders and regulators.

This development followed several…

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