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A congressional committee says trading platform Webull is not the ordinary U.S. company it claims, but exposes customer data to Chinese surveillance risk.
House panel says Webull's ownership, data flows and engineering are linked to China, raising national-security risks after it began holding U.S. customer cash.
Webull (NASDAQ:BULL) shares fell 15% on Wednesday after a US House congressional panel identified the brokerage platform’s ties to China as a national security risk, according to a CNBC report. The congressional panel raised concerns about Webull’s structural connections to China and the potential implications of…