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Digital investment brokerage Webull Corporation faced significant obstacles in its quest to go public, largely attributed to its cryptocurrency offerings, as disclosed by the companys 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 thwarted attempts at an initial public offering, with Anthony Denier, Webulls U.S. CEO, citing various impediments, including the platforms exposure to cryptocurrency, as significant obstacles.

The SEC has not been friendly, which is widely known, Denier remarked in an interview with Bloomberg News.Webull Steers Away From Crypto To Secure Nasdaq Listing

Founded by Wang Anquan, an alumnus of Alibaba Group Holding Ltd. BABA and Xiaomi Corp., Webull ventured into crypto trading in 2020, aiming to compete with platforms like Robinhood Markets Inc. HOOD .

However, the regulatory landscape concerning crypto trading prompted Webull to divest its digital asset business and eliminate cryptocurrency trading from its offerings globally by the end of the third quarter, as stated by Denier. This decision underscored the regulatory ambiguities faced by registered broker dealers in the crypto space, leading to a cautious retreat from these offerings.

Despite these challenges, Webull maintained crypto- and forex-related information on its website, providing market data and educational content for informational purposes only, without offering actual trading in these products, as specified by the company.

Webull has a robust 20 million registered users across 15 regions worldwide and manages $370 billion in equity notional volumes. Recently, the broker announced a partnership with the NBA's Brooklyn Nets and the WNBA's New York Liberty as the official basketball jersey patch partner.

Now Read: Webull To Go Public With SPAC Merger: What Investors Need To KnowLoading… Loading…

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Sports

Panthers’ Ekblad suspended 2 games for Hagel hit

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Panthers' Ekblad suspended 2 games for Hagel hit

NEW YORK — Panthers defenseman Aaron Ekblad has been suspended for two games for elbowing Lightning forward Brandon Hagel in the head midway through Game 4 of Florida’s first-round series against Tampa Bay.

The NHL’s Department of Player Safety announced its ruling after a phone hearing with Ekblad earlier Tuesday. He will be out for Game 5 and either Game 6 of this series or the Panthers’ first game in the next round.

No penalty was called when Ekblad hit Hagel in the chin with his right elbow and forearm with just under nine minutes left in the second period on Monday night. Hagel left the ice and did not return, and Ekblad scored the first of two goals in 11 seconds late in the third to give the defending Stanley Cup champions a comeback victory and a 3-1 series lead.

Coach Jon Cooper said Hagel would not play in Game 5. Hagel was suspended for Game 3 for his late hit that knocked Panthers captain Aleksander Barkov out of Game 2.

Ekblad missed the first two games of the playoffs and the final 18 of the regular season after being suspended for violating the league and NHLPA’s performance-enhancing drug policy. Florida got accustomed to playing without Ekblad.

“If it’s the first time it happens, there’s even questions from the coaching staff about what’s the right adjustment to make in your lineup and how will that play out — there’s a lot of unknown,” Panthers coach Paul Maurice said. “Because we’ve been through it so much when Aaron’s out, we know what the D-pairs are — let’s assume — if he’s out of the lineup.”

Another Florida defenseman, Niko Mikkola, was fined $5,000 for boarding Tampa Bay’s Zemgus Girgensons. Mikkola was given a five-minute major and ejected for the play early in the third period of Game 4.

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Sports

Tocchet quits; Canucks 8th team seeking a coach

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Tocchet quits; Canucks 8th team seeking a coach

Add Rick Tocchet to the list of available coaching options on the open market with the Vancouver Canucks announcing Tuesday that Tocchet left the team.

There had been a belief that Tocchet’s time with the Canucks could be coming to an end. Last week saw the discussion of Tocchet’s future with the franchise come under greater focus, with Canucks president of hockey operations Jim Rutherford saying they weren’t exercising their option on Tocchet’s contract before adding that they offered him a new, more lucrative deal to remain in Vancouver.

But now? Tocchet joins the list of sought-after coaching candidates and the Canucks become the eighth NHL team that will use this offseason to go through a coaching search.

“After a very long and thorough process, unfortunately Rick has decided to leave the Vancouver Canucks,” Rutherford said in a statement. “This is very disappointing news, but we respect Rick’s decision to move to a new chapter in his hockey career. We did everything in our power to keep him but at the end of the day, Rick felt he needed a change.”

In the same news conference in which Rutherford said the team offered Tocchet a new deal, he also said that Tocchet “may have his mind somewhere else” before adding that he felt Tocchet and his staff did “a good job coaching this team this year” as they did in their first full campaign.

Tocchet was a midseason hire during the 2022-23 season. His first full year in charge saw the Canucks win 50 games, finish with 109 points and win the Pacific Division. He led the Canucks to their first postseason appearance since the 2019-20 season and was a win away from advancing to the Western Conference finals.

Entering this season, the Canucks had most of their players from their playoff team. They started strong with a 15-8-5 record but encountered numerous on-ice and off-ice problems that would prove too large.

Among them was the friction between star forwards J.T. Miller and Elias Pettersson. The tension between Miller and Pettersson reached a stage in which Canucks captain Quinn Hughes publicly acknowledged there was an issue with Miller and Pettersson denying such issues.

Miller would be traded to the New York Rangers before the trade deadline, and the Canucks struggled to find someone who could replace his production. They would finish six points behind the St. Louis Blues for the final Western Conference wild-card spot.

Still, Tocchet had the support of Hughes, along with others within the organization who wanted him to stay.

As for what it all means going forward for both parties? Tocchet is among those who will join Mike Sullivan, who parted ways with the Pittsburgh Penguins on Monday after winning two Stanley Cups in 10 seasons, as one of the most attractive names for teams seeking a new bench boss.

Then there are the teams that need a coach. It’s a list that includes the Anaheim Ducks, Boston Bruins, Chicago Blackhawks, Rangers, Philadelphia Flyers, Seattle Kraken, plus the Penguins and now the Canucks.

“I’m choosing to move on from the Vancouver Canucks,” Tocchet said. “Family is a priority, and with my contract lapsing, this becomes an opportune time. While I don’t know where I’m headed, or exactly how this will play out for me over the near term, I feel like this is the right time for me to explore other opportunities around hockey.”

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Politics

Crush fly-tippers’ vans, government tells councils

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Crush fly-tippers' vans, government tells councils

The government wants councils to crush more vans used to fly-tip rubbish, as it announces a crackdown on the illegal dumping of waste.

No new funding is being given to local authorities for the initiatives, with ministers saying the seven percent raise announced in the budget can be used.

As part of the announcement, the government has also proposed that fly-tippers could face up to five years in prison, although this would require a change in the law.

Environment Secretary Steve Reed arriving in Downing Street, London, for a Cabinet meeting, ahead of Chancellor of the Exchequer Rachel Reeves delivering her spring statement to MPs in the House of Commons. Picture date: Wednesday March 26, 2025. PA Photo. Photo credit should read: James Manning/PA Wire
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Environment Secretary Steve Reed attacked the Conservatives’ record. Pic: PA

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Environment Secretary Steve Reed said: “Councils will get much more aggressive against fly-tippers and that includes using the latest technology, things like the new mobile CCTV cameras and drones to identify, track and then seize the vehicles that are being used for fly-tipping to a yard like this and crush them.

“That’s both as a punishment for those people who are dumping the rubbish but also as a deterrent for those who are thinking about doing it.”

He added: “We’re also looking to change the law so that those rogue operators who take rubbish from someone’s home and then dump it on a nearby road – they were getting away almost scot-free under the previous government – they will now be looking at potentially five-year prison sentences.”

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The minister claimed the fly-tipping was “out of control” under the last government.

Data from the Department for Environment, Food and Rural Affairs (DEFRA) shows local authorities in England dealt with a record 1.15 million incidents last year – a 20% increase from 2018/19.

Environment Agency chief executive Philip Duffy said: “We’re determined to bring these criminals to justice through tough enforcement action and prosecutions.

“That’s why we support the government’s crackdown on waste criminals, which will ensure we have the right powers to shut rogue operators out of the waste industry.”

However, the Conservatives claimed that rubbish is “piling high” in areas like Birmingham as refuse workers strike against a pay and jobs offer from the Labour-run council.

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Shadow environment secretary Victoria Atkins said: “Wherever Labour is in charge, waste is piling high – like in Birmingham, where Labour’s inability to stand up to their union paymasters has left rat-infested rubbish littered across the street.

“And with statistics showing that of the 50 worst local areas for fly-tipping, 72% are Labour controlled, it is clear that voting Labour gets you rubbish and rats.

“So the British public deserve real action, not this series of reheated announcements and policies already introduced by previous governments that Labour is peddling.”

Liberal Democrat deputy leader Daisy Cooper said: “Under the Conservatives’ watch, local communities have been plagued by a fly-tipping epidemic.

“From overflowing bins to piles of hazardous waste, fly-tipping is blighting our landscapes, poisoning livestock on farming land and causing misery for residents.

“Enough is enough.

“The Liberal Democrats are calling for a fly-tipping fighting fund, to push for stronger local enforcement and tougher penalties for offenders.”

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