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We got a leaked copy of the memo Robinhood sent to banned users who exploited its now-infamous 'infinite money' glitch

6 monthes ago   |   By Business Insider

Robinhood restricted the accounts of users exploiting an "infinite leverage" glitch , and a leaked letter details how the company alerted participating traders.
The company confirmed the notice is legitimate, but could not comment on whether all users received the same letter.
The notice details three options the trader can use to liquidate assets, and says any "negative equity balances" must be repaid within 60 days.
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Robinhood's 'infinite money' glitch has reportedly drawn regulatory scrutiny - and the company could be fined

Robinhood's 'infinite money' glitch has reportedly drawn regulatory scrutiny - and the company could be fined

6 monthes ago   |   By Business Insider

Robinhood's "infinite leverage" glitch has placed the company back under regulator scrutiny, which could result in a fine, Bloomberg reported Thursday .
One person on the WallStreetBets sub-Reddit - the forum where much of the discussion around the glitch has taken place - described the bug as an "infinite money cheat code."
The Securities and Exchange Commission and the Financial Industry Regulatory Authority are the two agencies most likely to investigate the matter. Both have the authority to levy fines for financially-irresponsible behavior.
The glitch that allowed traders to borrow...
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