Up Fintech Holding Ltd

Singapore

Hong Kong SAR China

China

United States

TIGR▲

UP Fintech Posts Record Revenue but Costs Climb

UP Fintech reported record quarterly revenue and a full reversal of its prior-quarter loss, with revenue jumping 31.4% year over year to $182.3 million and GAAP net income of $39.4 million, compared with a $26.9 million loss in the first quarter. The turnaround was driven almost entirely by Singapore and Hong Kong, which contributed over 70% of new funded accounts and $1.5 billion in net asset inflows. However, the cost of that growth is rising: marketing expenses surged 86.6% to $18.4 million, the average cost of acquiring a new funded account rose to $450, and employee compensation climbed 39.4% to $50 million on severance costs. The cash equity take rate fell to 3.6 basis points from 5.9 basis points, and Mainland China's share of revenue slipped to 15%-20%. Hedge fund ownership ticked up to 17 funds, while short interest stands at 5.06% of the float, reflecting a split market view.

TIGR ▲

TIGR · Capital · Positive Record quarterly revenue of $182.3M (up 31.4% YoY) and a swing to $39.4M GAAP net income from a prior-quarter loss.

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United States

China

TIGR▲2

UP Fintech Q2 Revenue Hits Record $182 Million

UP Fintech Holding Limited reported record second-quarter revenue of $182 million, up 31% year-over-year, with GAAP net income of $39.4 million and non-GAAP net income of $42.8 million, returning to profitability after a net loss in the previous quarter. Excluding the impact of approximately USD 59.7 million one-off penalty incurred in the first quarter, second quarter GAAP and non-GAAP net income attributable to UP Fintech both increased about 20% quarter-over-quarter. The company added 32,600 new funded accounts, bringing total funded accounts to 1.32 million, and total client assets reached $60.7 billion, up 16.7% year-over-year. Commission income rose 21% to $78.3 million, and interest income increased 36% to $79.8 million. Management noted that Mainland retail clients now account for under 10% of total client assets, down from previous levels, and that the regulatory impact has largely run its course.

TIGR ▲

TIGR · Capital · Positive Record Q2 revenue of $182M (+31% YoY) and return to GAAP profitability of $39.4M after prior-quarter loss.

TIGR · Demand · Positive Added 32,600 new funded accounts to reach 1.32M and total client assets rose 16.7% YoY to $60.7B.

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TIGR▼

Rosen Law Firm investigates UP Fintech over potential securities claims

The Rosen Law Firm is investigating potential securities claims on behalf of UP Fintech Holding Limited shareholders, alleging the company may have issued materially misleading business information. The investigation follows a May 22, 2026 Reuters report that China announced a crackdown on illegal cross-border securities activities, naming online brokers Tiger, Futu, and Longbridge for soliciting business without onshore licenses. UP Fintech American Depositary Shares fell 25.3% that day. The law firm is preparing a class action to recover investor losses and encourages affected shareholders to contact them.

TIGR ▼FUTU ▼

TIGR · Regulation · Negative China's crackdown on illegal cross-border securities activities targets UP Fintech, causing a 25.3% share drop and prompting a securities class action investigation.

FUTU · Regulation · Negative Futu is named alongside UP Fintech in the Reuters report as an online broker soliciting business without onshore licenses, facing regulatory risk.

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TIGR▼3impact 4

Rosen Law Firm Investigates UP Fintech Over Potential Securities Claims

The Rosen Law Firm is investigating potential securities claims on behalf of UP Fintech Holding Limited shareholders, alleging the company may have issued materially misleading business information. The investigation follows a May 22, 2026 Reuters report that China announced a major crackdown on illegal cross-border investment, naming online brokers Tiger, Futu, and Longbridge for soliciting business without an onshore license. UP Fintech American Depositary Shares fell 25.3% on that news. The law firm is preparing a class action to recover investor losses and encourages affected shareholders to contact them.

TIGR ▼FUTU ▼

TIGR · Regulation · Negative China announced a crackdown on illegal cross-border investment, naming UP Fintech for soliciting business without an onshore license, causing a 25.3% drop in its ADRs.

FUTU · Regulation · Negative Futu was named in the same China crackdown on illegal cross-border investment, facing similar regulatory risk.

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Rosen Law Firm investigates UP Fintech over potential securities claims

The Rosen Law Firm is investigating potential securities claims on behalf of UP Fintech Holding Limited shareholders, alleging the company may have issued materially misleading business information. The investigation follows a May 22, 2026 Reuters report that China announced a crackdown on illegal cross-border securities, naming online brokers Tiger, Futu, and Longbridge for soliciting business without an onshore license. UP Fintech American Depositary Shares fell 25.3% on that news. The law firm is preparing a class action to recover investor losses and encourages affected shareholders to contact them.

TIGR ▼FUTU ▼

Digital Finance & Tokenization ▼

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TIGR · Regulation · Negative China crackdown on illegal cross-border securities directly targets UP Fintech, causing 25.3% stock drop and class action investigation.

FUTU · Regulation · Negative Futu is named in the Reuters report as one of the brokers soliciting business without an onshore license, facing regulatory risk.

Longbridge Securities (Hong Kong) Limited · Regulation · Negative Longbridge is named in the Reuters report as one of the brokers soliciting business without an onshore license, facing regulatory risk.

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TIGR▼2

DOJ Probes Alleged Insider Trading Scheme That Stung Susquehanna

The Justice Department is looking into Susquehanna International Group's allegations that unknown insider traders made $100 million on options bets placed ahead of a recent Chinese regulatory crackdown on cross-border brokerages, according to people familiar with the matter. The criminal division in Washington is leading the probe, which is in its early stages. The Securities and Exchange Commission is also examining the trades described in the market-making firm's complaint. Susquehanna said in a lawsuit filed Monday in Manhattan federal court that it lost more than $70 million as counterparty on most of the alleged insider trades, which involved US exchange-traded options in Chinese securities firms targeted in a May 22 crackdown. The firm sued 100 John Doe defendants and obtained a court order freezing accounts at Interactive Brokers Group Inc. and the platforms of Futu Holdings Ltd. and Up Fintech Holdings Ltd. that the defendants allegedly used.

FUTU ▼TIGR ▼IBKR ▼

Susquehanna International Group · Regulation · Negative Susquehanna lost over $70 million as counterparty to alleged insider trades and is pursuing legal action, but the incident is negative for the firm.

FUTU · Regulation · Negative Futu Holdings' platforms were used in alleged insider trading and accounts frozen, facing regulatory scrutiny and potential legal costs.

TIGR · Regulation · Negative Up Fintech's platforms were used in alleged insider trading and accounts frozen, facing regulatory scrutiny and potential legal costs.

IBKR · Regulation · Negative Interactive Brokers' accounts were frozen by court order due to alleged insider trading, potentially harming its reputation and operations.

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