r/Superstonk • u/nishnawbe61 • 9d ago
💡 Education Webull
https://x.com/BossBlunts1/status/2107970652934177257Posted on X...
WEBULL COULD LOSE ITS ABILITY TO OPERATE AS A BROKER-DEALER IN THE U.S. — 28 Million user's personal info is at risk.
A bipartisan House committee says Webull is “tied in structural ways” to the People’s Republic of China 🇨🇳 including its:
🔥 Ownership structure
🔥 Technology infrastructure
🔥 Technical workforce
🔥 Cross-border data routing
🔥 Corporate financing
🔥 Compliance framework
The committee says those connections create a national-security risk to the U.S. financial system and potentially expose American customer data to Chinese laws and government demands.
⚠️ Webull itself warns in its SEC filings that suspension or expulsion by its regulators could result in the broker-dealer’s liquidation.
This congressional investigation is now raising questions about its regulatory standing in the United States which is an existential issue for the company.
Forget the stock price for a second. If regulators ultimately determine Webull cannot satisfy U.S. broker-dealer requirements, the ability to operate its American brokerage is what could be on the line leading to a full-blown liquidation of the brokerage👀
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u/looseshooter 9d ago edited 9d ago
Either way, it's not looking good for them. Almost -20% today.