Webull CEO Anthony Denier told CNBC that buy orders for major cryptocurrencies from retail investors have surged by nearly 300% since the Pattern Day Trader (PDT) rule was abolished on June 4. The rule previously required a minimum equity of $25,000 for accounts making four or more day trades within five trading days, while Webull's average account held only about $5,500, thus its repeal unlocked a large number of users. Denier directly linked this change to Webull's revenue growth, with the company's Q2 revenue reaching $199 million, up from $160 million in Q1. Although Bitcoin prices have only risen by 0.4% in the past 24 hours, Robinhood and Webull's stock prices still increased by 7% and 4% respectively, reflecting how brokers benefit from trading volume rather than the price fluctuations of the underlying crypto assets.