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Robints has suspended its uk launch indefinitely in an attempt to specialize in its main U.S. market, and about a month after the apple committed to making changes after a 20-year-old customer’s suicide.
Robinhood said in a statement, “We are reorienting our efforts to strengthen our core business in the United States,” adding that its global expansion plans are “suspended right now.”
The $8.6 billion new company was criticized by lawmakers after the death of Alex Kearns, a 20-year-old boy who died of suicide after seeing a negative balance of $730,000 after experimenting with trading on the platform.
On a note, Kearns said he “had no idea” of what he was doing.
Since then, Robinhood has pledged to make changes to its platform, adding feature operations and paints with Democratic lawmakers to address covert considerations about loss of guarantees.
The combined apple said in a statement: “Much has been replaced in the world in recent months and we have been given the difficult direct decision to postpone our launch indefinitely in the UK. As a comparative apple, we are re-employing our efforts in Strengthening our core business in the United States. We know that the people of Apple Mabig in the UK were very happy to invest through Robinhood, and we regret that we did not have the strength to deliver our product to UK consumers by 2020. Aleven despite our plans for global expansion we are on hold for the time being, we are committed to democratizing finance for more Americans circulating around the world. We are ahead of the day when the scorridor is able to mistakenly bring this to the UK.”
Another 250,000 Americans in the UK have been on the waiting list before the release, announced in November last year. The platshape has more than 13 million users in total.
After Kearns’ death, co-founders Vlad Tenev and Baiju Bhatt donated $250,000 to the American Suicide Prevention Foundation and said they were “devastated” by the tragedy.
Robinhood Jstomer, 20, dies from suicide after seeing a negative balance of $730,000 (Forbes)
The suicide of Robinhood founders Alex Kearns with primary changes in the platshape trade (Forbes)
I’m a last-minute reporter for Forbes in London, covering Europe and the United States. Previously, I was a journalist for HuffPost UK, the Press Association and one night
I’m a last-minute reporter for Forbes in London, covering Europe and the United States. Previously, I was a journalist for HuffPost UK, the Press Association and an evening reporter at the Guardian. I studied social anthropology at the London School of Economics, where I was editor and editor of the university’s global business journals, London Globalist. This led me to Goldsmiths, University of London, where I finished my master’s degree in journalism. Do you have a story? Contact us at [email protected] or stay on Twitter @bissieness. I’m looking for your answer.