Robinhood To Upgrade Platform After Death Of Customer
Customer’s Death Leads To New Reform
Robinhood has vowed to upgrade its platform after a customer took his life. The suicide of Alexander Kearns was a shock to everyone. The 20-year-old death has prompted the Robinhood platform to take extra precaution to boost its services.
Kearns, who was a customer of the stock and crypto trading platform, took his life after an erroneous negative of $730,000 appeared on his account. This error made the platform take notice of any discrepancies and improve its offering.
Robinhood announced that it is considering extra education for its customers looking for level 3 options authorization. The platform states that this will help customers understand the platform better.
They also mentioned that they would be relying on more educational materials on their website while improving messages and emails sent to customers.
The company announced it would be donating $250,000 to the American Foundation for Suicide Prevention
The company also announced a $250,000 donation to the American Foundation for Suicide Prevention.
Robinhood Makes Changes
Kearns was using Robinhood to trade various complicated options instructions. He was found dead on June 12, after he threw himself on a train.
The death has brought attention to the dangers of free-trading championed by platforms like Robinhood. The platform has been known to give new investors easy access to sophisticated financial instruments usually employed by experienced traders.
“The young boy threw himself on a train when he saw the negative balance. You can imagine such a big tech company can’t tell the difference between a plus and a minus,” Bill Brewster, a relative of Kearn said.
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