US lawmakers report that Webull, a digital brokerage with 28 million users, has structural ties to the Chinese government, posing a national security risk. The House Select Committee on China found that Webull's data flows may be exposed to Chinese Communist Party demands, despite the company marketing itself as American-based. Following the report, Webull shares fell 18%. Webull defends its operations, stating US customer data is stored domestically and denies the report's claims. The committee's concerns grew after Webull began holding customer cash directly in 2025, exposing billions in American capital. Founded by a former Alibaba executive, Webull operates globally with branches in the US, Singapore, and China, raising questions about compliance with Chinese laws.
Trading app Webull faces scrutiny over alleged ties to the Chinese government, with US lawmakers raising national security concerns. For readers following the Financials sector, here is Pluang's market snapshot as of Oct 08, 2026 03:22 WIB: out of 85 priced US Financial stocks, 16 rose and 69 fell. Notable movers include Gemini Space Station Inc (USD 4.46, -4.50%), Deutsche Bank AG (USD 33.56, -4.45%), and Prudential PLC (USD 23.54, -4.33%).
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On October 7, 2026, Webull shares fell 19.2% following a congressional report raising national-security concerns over its ties to China, despite Webull's denial and assurance of U.S. data storage. Hess Midstream shares dropped 14.6% due to a transact...
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