Trading app Webull tanks 18 percent over ‘ties’ to Chinese government, national security concerns: report

Webull, a digital brokerage platform, is quietly “tied in structural ways” to the Chinese government — representing a national security threat to the nation’s finances, according to reported findings from US lawmakers. Shares in Webull – a trading app similar to Robinhood that boasts 28 million global users – plummeted 18% after CNBC reported the House Select Committee on China found its data flows “may remain exposed to the Chinese Communist Party’s” demands. In a new report, the committee identified “a profound gap” between Webull marketing itself as “an American company” based in St. Petersburg, Fla., and its actual compliance…