Congress concerns over Webull's China links
An American congressional committee has revealed that the trading platform "Wobel" is structurally linked to the Chinese government, posing a threat to U.S. national security and the financial sector. The report indicated that the ownership, technical infrastructure, and data systems of "Wobel" are reliant on Chinese laws, which compel companies to cooperate with the Chinese government and transfer data. It further explained that the risks associated with these ties have increased since October 2025, especially considering that "Wobel" holds client assets valued at $24.6 billion, exposing that money to structural risks. The company also has a subsidiary in China that plays a key role in technology development and platform operations, with 62% of its global workforce based in China.
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