A bipartisan U.S. congressional committee has found that trading platform Webull, despite marketing itself as an American company, is structurally tied to China's government, exposing customer data and billions in American capital to potential Chinese surveillance risks. The report, shared exclusively with CNBC, highlights that Webull's ownership architecture, technical workforce, technology infrastructure, cross-border data routing, corporate financing, and compliance frameworks are linked to the People's Republic of China. The committee noted that Webull holds $24.6 billion in customer assets, and its China-based subsidiary, Hunan Weibu, accounts for 62% of its global workforce, with 863 employees. Representative John Moolenaar, who chairs the House Select Committee on China, stated that Webull's China-based operations put American investors and their data at risk.