Webull Corporation Statement on House Select Committee Report

Webull Corporation issued a statement on October 9, 2026, addressing a report released by the U.S. House Select Committee. While Webull supports the Committee's mission and recommendations for improving U.S. financial regulatory frameworks, it takes issue with the report's process and accuracy. Webull states that the report draws conclusions from an incomplete record and contains factual errors. The company cooperated with the Committee's inquiry starting in late 2024, but claims the Committee went silent for 20 months without follow-up questions or interviews with key personnel. Webull asserts that customer data is stored in the U.S. on AWS infrastructure, with access controlled by U.S. supervisors, and no Chinese employees have access. The company also states that no instances of improper access or misuse of U.S. customer data have occurred, nor have they experienced material cybersecurity incidents. Customer assets, including cash and securities, are held in the U.S. at regulated banks and broker-dealers, with no assets held in China and no personnel in China having authority over them. Webull emphasizes that it is regulated by the SEC and FINRA, with its global headquarters in St. Petersburg, Florida, and decisions made in the U.S. The company maintains its operations protect customer information and assets.