Webull China ties: Why US lawmakers say the trading app poses a national security risk

A bipartisan House Select Committee on China has accused the digital investment platform Webull of having deep structural links to China’s government, raising concerns about potential risks to the US financial system. The committee claims that Webull’s ownership, technology, workforce, infrastructure, and data systems are closely connected to China, despite the company’s public image as an American firm.

The committee specifically highlighted Webull’s ownership structure, workforce, technology infrastructure, data routing, financing, and compliance systems as areas with China ties. They argue that these links could expose sensitive US financial information to Chinese authorities. The committee warns that Webull’s software development, data pipelines, and core engineering operations rely on infrastructure subject to Chinese laws, a factor that adds to their national security concerns.

The issue became more serious in October 2025 when Webull began handling customer cash directly, potentially exposing billions of dollars in US capital to Chinese control, according to the committee. The committee also scrutinized Webull’s backend systems and data flows, suggesting that critical systems and data movements might still be vulnerable to Chinese intelligence demands.

Webull has rejected the committee’s findings, claiming they contain "significant inaccuracies and unsupported conclusions." The company maintains that its US operations are based in the United States, with headquarters in St. Petersburg, Florida, and another office in New York City, and that its US customer data is stored within the country.

Despite this, the committee remains concerned that Chinese government influence over Webull could potentially affect the US financial system during conflicts or political crises, highlighting the broader risks posed by Chinese-linked financial infrastructure.