Webull's Links to China Raise National Security Concerns, Report Finds
Written with artificial intelligence.
A congressional committee has identified Webull as a potential national security risk, linking the trading platform to Chinese government ties that could compromise customer data. The report claims Webull's operations expose billions in American capital to Chinese surveillance.
Congressional Findings
A bipartisan House Select Committee on China has released a report stating that Webull, a digital investment platform with 28 million global users, is not merely an American company as it claims. The committee asserts that Webull's connections to the Chinese government create significant national security risks for U.S. investors.
The committee's report highlights that Webull's corporate structure and technical operations reveal a dependence on infrastructure governed by Chinese laws, which could require cooperation with the Chinese government regarding data handling. This concern has escalated since October 2025, when Webull began directly managing customer cash, potentially exposing billions of dollars in American investments.
Webull's Response
In response, Webull has criticized the report for containing inaccuracies, asserting that its U.S. operations are based in St. Petersburg, Florida, and New York City, with customer data stored domestically. The company claims that access to sensitive data is controlled within the U.S. and remains committed to transparency with regulatory bodies.
Implications for Investors
Congressional representatives have warned that Webull's operational ties to China, including its use of technology providers based in the country, put American investors and their data at risk. The report indicates that Webull's corporate structure is intertwined with its mainland Chinese subsidiary, which employs a significant portion of its workforce.
As these findings raise alarms about the security of American capital, investors are urged to consider these risks when selecting trading platforms.