Webull Corporation stock (BULL) fell to $5.86, down 19.51%, after the House Select Committee on China raised national security concerns Wednesday. The committee flagged risks tied to the trading platform's China-based operations and their potential access to sensitive financial and personal data of American users.
The sharp decline reduced the company's market value to roughly $3.1 billion as political scrutiny intensified. The House committee, led by Chairman John Moolenaar, focused on whether China-linked connections could expose U.S. customers and information to Chinese government authorities.
Webull rejected the committee's conclusions, stating the report contained major inaccuracies about the company's operations and corporate structure. The company disputed claims connecting its business framework to national security concerns involving American customers.
Background on Webull
Webull was founded by Wang Anquan in 2016 and became publicly traded in the United States during 2025. The company's American headquarters are located in St. Petersburg, Florida. It currently operates across 18 markets and reports more than 28 million users across its international trading platforms, offering stocks, bonds, derivatives, cryptocurrency products, and prediction markets.
Prior Congressional Scrutiny
This marks the latest in a series of congressional reviews. In December 2024, lawmakers sent Webull a letter outlining concerns over its ownership and operational connections, questioning whether China-linked technologies and personnel could affect user data security and compliance with American financial rules.
Regulatory Uncertainty Ahead
The House committee can raise security concerns, but relevant federal authorities would decide any direct regulatory restrictions or enforcement measures. No new formal U.S. restriction on Webull's operations has been confirmed. The committee's concerns focus partly on whether Chinese laws could require companies to assist government authorities with information requests—an issue that has become a broader policy concern across technology, telecommunications, and financial services industries.
The uncertainty could affect market sentiment given that Webull depends heavily on customer trust and regulatory approval. Any deeper federal review could increase legal costs and place additional pressure on the company's compliance and governance operations.
