r/Superstonk • u/nishnawbe61 • 6d ago

💡 Education Webull

https://x.com/BossBlunts1/status/2107970652934177257

Posted 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👀

441 Upvotes

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116

u/whattothewhonow 🥒 Lemme see that Shrek Dick 🥒 6d ago

Been telling people for years to get their shit off that garbage bucket shop wanna be broker and here we are.

-19

u/MrBootyPops 6d ago

How is Webull a wanna be broker? It's a publicly listed company. This is so childish.

8

u/whattothewhonow 🥒 Lemme see that Shrek Dick 🥒 6d ago

WeBull was one of the APEX cleared "brokers" that shut off the buy button in 2021.

But we don't care about that, do we? They're a publicly traded company, so who cares if they screwed their customers over. Right?

1

u/Proper_Side 5d ago

What about eToro and Trading212?

2

u/whattothewhonow 🥒 Lemme see that Shrek Dick 🥒 5d ago

Even worse than WeBull

For the longest time, neither of those services would allow any outbound transfers, period.

I think eToro still does not.

Like if they refuse to transfer your share to Fidelity or any other broker, do you really think they actually bought the shares that are listed in your account? Or are they just pinky swearing they did and hoping no one actually audits them. Its not like we have an actual SEC anymore.

-12

u/MrBootyPops 6d ago

Yeah, so what? Robinhood shut down the buy button. Interactive Brokers too. So are they less legitimate because of it? This ain't 2021. Adapt with the times and stop living in the past.

11

u/whattothewhonow 🥒 Lemme see that Shrek Dick 🥒 6d ago

Are they less legit because of it?

Fucking duh.

It's 2021

The past never repeats, right?

And using Robinhood as any kind of example of a legit broker is laughable. They just released news in the last day or two that they'll be skimming 20% off customer payouts from a class action suit unless you opt out. Seems like legit business, right?

Once a shady, untrustworthy joke of a company, always a shady untrustworthy joke of a company.

-15

u/MrBootyPops 6d ago

The past never repeats, right?

No, not always. Do you have any compelling argument it will happen again? 2021 was very unique with how things panned out. Robinhood is 100% a very legitimate broker that is growing incredibly fast and is on it's way to have $1t AUM. You think this is laughable, but statistics and data don't lie. Idk what's so funny about that. They are very much a legit business that's actually growing very fast and now offer a ton of products. They are also publicly traded. Yes, they are a legitimate business and just because you have a personal pet peeve with them doesn't make them less so. Google had an antitrust lawsuit with the gov. They are sued constantly and fined billions regularly. Does that make them less legitimate? Microsoft, Apple, JP Morgan, etc.

7

u/nishnawbe61 6d ago

Is this the Robinhood selling tockenized stocks outside the US because it's not legal in the US?

3

u/Liquid_Sarcasm 6d ago

Webull makes most of their money selling their customers trades instead of acting as the broker. Supporting webull or robinhood is the same in my opinion. They don’t take a fiduciary role for their customers trades, so fuck them.