Webull shares plunge 19.1% over China ties
- —Webull stock dropped 19.1% to $5.89 after the House select committee report
- —Chinese subsidiary Hunan Weibu employs 863 people, 62% of Webull's workforce
- —Founder Anquan Wang, a Chinese citizen, controls 79.2% of voting rights
- —Webull holds $24.6 billion for roughly 28 million users worldwide
Why it matters: Pressure on crypto-friendly brokers with Chinese roots could accelerate delistings and restrictions for similar platforms in the US.
Source: BeInCrypto FR