# Congress Calls Webull Structurally Tied to China

> Webull stock crashes after Congress reports its app is structurally tied to Chinese government.
- Title: Congress Calls Webull Structurally Tied to China | Shortify
- Summary: Webull stock crashes after Congress reports its app is structurally tied to Chinese government. Congress found Webull's trading platform has deep ties to…
- Keywords: webull, congress, china, stock, stock price crash, house select committee, hunan weibu, webull china ties report, webull stock price crash due to china ti, startups, business, Calls
- Source: Startup Fortune — https://startupfortune.com/congress-says-webull-is-structurally-tied-to-china-stock-craters
- Published: 2026-10-12T20:43:18+00:00
- Read time: 1 min
- Topics: webull, congress, china, stock, stock price crash, house select committee, hunan weibu, webull china ties report, webull stock price crash due to china ti, startups, business
## Congress panel says Webull tied to China
A House panel reported Webull's trading app is structurally tied to Chinese government authorities.

> tied in structural ways
## Webull stock drops 19.1%
Webull shares fell 19.1% to $5.89 after opening at $5.15 on October 7.

> down roughly 19.1% at $5.89
## Committee report details structural gap
The committee found Webull's mainland Chinese subsidiary employs 62% of its global workforce.

> employs 863 people, which the panel says amounts to 62% of the company's entire global workforce
## Webull claims no Chinese offices
Webull previously stated it has no offices or employees in China, but the report contradicts this claim.

> does not have any offices or employees based in the People's Republic of China
## Committee flags data risks
China-based operations expose US user data to Chinese government authorities.

> put American investors and their data at risk
## Webull disputes findings
Webull says it made efforts to cooperate but did not hear from committee for over 20 months.

> made every effort to cooperate with the Committee, but did not hear from them for more than 20 months before this report was released
## Webull's structural China ties
Webull's engineering and data pipelines run through Chinese-controlled infrastructure.

> all of it dependent on infrastructure governed by Chinese law
## Key takeaway

Congress found Webull's trading platform has deep ties to China, causing its stock to drop 19.1%.