![]() “How was a 20-year-old with no income able to get assigned almost a million dollars’ worth of leverage?” Kearns wrote in the note that Brewster posted. “We are personally devastated by this tragedy,” Vlad Tenev and Baiju Bhatt, Robinhood’s co-founders and co-CEOs, wrote in a blog post Friday afternoon that confirmed Kearns was a customer.īrewster shared a note on Twitter that he says Kearns left behind before he died, which indicated he was distraught and confused over his Robinhood account. Robinhood also pledged to do more to explain how these sophisticated trading strategies work. On Friday, after Brewster posted a long Twitter thread about Kearns’ death, Robinhood announced a series of changes to its options offering and user interface directly in response to the incident. “This company is toxic to me right now,” he said. “How much are these guys thinking about the fire they are playing with?”īrewster, Kearns’ cousin-in-law, vowed to do whatever it takes to draw attention to what he sees as serious lapses in Robinhood’s oversight that allowed for this tragedy to happen. ![]() ![]() “The kid threw himself in front of a train over nothing, because a tech company can’t figure out they shouldn’t show a negative $730,000 cash balance to a 20-year-old kid,” Bill Brewster, a relative of Kearns, told CNN Business. The Kearns family believes Alexander was misled by the app’s interface suggesting he owed $730,000, when that was not really the case.
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