House Panel Calls Webull’s China Ties a National Security Risk; BULL plummets nearly 30%
By Tanya Chepkova
AI summary of the source article
A bipartisan report from the US House Select Committee on the Chinese Communist Party has labeled Webull’s ties to China a national security risk, pointing to its Chinese workforce and ownership structure. Founder and CEO Anquan Wang controls 79.2% of voting power, and 62% of Webull's workforce was employed by its mainland Chinese subsidiary at the end of 2025. Following the report, Webull shares fell nearly 30% in early trading. Webull stated that US customer data is housed on US servers and cannot be accessed by foreign employees without authorization. The report does not show that customer data was compromised.
Why it matters
The congressional scrutiny highlights heightened regulatory and geopolitical risks for retail brokerages with foreign technical infrastructure and ownership links.
Key facts
- A US House panel deemed Webull's China ties a national security risk due to technical operations and ownership structure.
- Webull founder Anquan Wang controls 79.2% of voting power, and 62% of the global workforce was at its Chinese subsidiary at year-end 2025.
- Webull's stock fell nearly 30% in early trading, trading down 21.1% at $5.75 later in the morning.