Current outcome
The US House Select Committee on the CCP released a 23-page report alleging China-linked data security risks at Webull, sending its shares down 19% to close at $5.89; Webull denied the report as materially false, saying US client data is stored domestically and sensitive access is controlled by US parties.
Progress timeline
2 material updates- #01
Webull plunged 32% on report of ‘structural’ ties to China
Webull shares plunged as much as 32% after a bipartisan US congressional committee report labeled the 28-million-user brokerage a national security risk, alleging its ownership, staffing, technology and compliance are structurally tied to China.
Source evidence: Protos
- #02
【美众议院委员会发布报告称 Webull 存在数据安全隐患，Webull 回应称报告存在重大不实】
A Webull spokesperson called the report materially false and said US client data is stored domestically under US-controlled access; the stock closed down 19% at $5.89 on the day the report was released.
State after update: The US House Select Committee on the CCP released a 23-page report alleging China-linked data security risks at Webull, sending its shares down 19% to close at $5.89; Webull denied the report as materially false, saying US client data is stored domestically and sensitive access is controlled by US parties.
Source evidence: foresightnews