Webull Stock Falls 20% Over China Ties: Who Really Controls the App?
Webull stock lost 19.1% on Wednesday, closing at $5.89, after a House panel said the trading apps data “may remain exposed” to Chinese intelligence laws. Webull called the report inaccurate. The broker holds $24.6 billion for about 28 million users worldwide. Its founder, Anquan Wang, is a Chinese citizen who controls 79.2% of the votes, Webulls annual filing shows. Sponsored Sponsored Webull Stock (BULL) Performance. Source: Yahoo FinanceWhat Protects a Webull Customers Account Webull is a member of the Securities Investor Protection Corporation (SIPC), an industry fund that steps in if a US broker fails. SIPC covers up to $500,000 per account, including $250,000 in cash, Webulls help page says. It does not cover losses when stock prices fall. Cash in Webulls Cash Management program goes to partner banks. There, Federal Deposit Insurance Corporation (FDIC) insurance covers up to $5 million. The committees report does not ban the app, freeze accounts, or fine the company. Sponsored Sponsored What the House Panel Says Is at Risk The House Select Committee on China says Webulls software, data pipelines, and core engineering rely on systems subject to Chinese law. That law can force companies to hand data to the state. BREAKING: Webull $BULL just crashed over 20% after a House committee accused it of exposing US









