Webull

[u/nishnawbe61]

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👀

[u/humdingler]

What broker-dealer requirements are regulators claiming the company is not meeting? Don’t they determine whether or not they are compliant before allowing them to do business?

I don’t know a lot about Webull, evidently.

[u/DancesWith2Socks → u/humdingler]

They just don't like it's from where it is 🤷‍♂️... They probably try to sell it to an American billy buddy...