A bipartisan report released by the House Select Committee on China concluded that online brokerage Webull poses a national security threat to U.S. investors. The investigation revealed a profound gap between the company’s public framing as an American firm and the underlying reality of its operations. According to the findings, Webull’s corporate ownership, technical workforce, software infrastructure, cross-border data routing, and financing are structurally tied to the People’s Republic of China. The panel particularly warned that security exposures have intensified since the platform began holding customer cash directly on its own balance sheet. Following the release of the report, Webull’s shares tumbled sharply as investors weighed the potential regulatory fallout and operational uncertainty.

Full report : A U.S. House committee report highlights deep structural connections between the popular trading platform and Beijing.