Webull stock drops 20% as its ties to China create national security risk as per congressional panel

Digital investment platform [Webull](https://www.cnbc.com/quotes/BULL/), which counts [28 million global users](https://www.webull.com/news/15661785982567424), is quietly “tied in structural ways” to China’s government, representing a national security threat to U.S. finance, according to a bipartisan congressional panel’s findings shared exclusively with CNBC.

The bipartisan House Select Committee on China in its new report being released Wednesday found “a profound gap” between Webull’s public marketing as “an American company” and actual control of the St. Petersburg, Florida-based firm.

“Webull’s ownership architecture, technical workforce, technology infrastructure, cross-border data routing, corporate financing, and compliance frameworks are tied in structural ways to the People’s Republic of China,” the committee found.

The panel asserted that national security concerns around the company have “escalated” since October 2025, when Webull began carrying customer cash directly, according to a regulatory filing the panel cited. The committee alleges that creates a “structural exposure of billions of dollars in American capital.”

[https://www.cnbc.com/2026/10/07/webull-china-national-security-risk-congress.html](https://www.cnbc.com/2026/10/07/webull-china-national-security-risk-congress.html)