After a series of several technical issues, the American fintech platform Robinhood decided to take the initiative and compensate its clients' losses during outage under one condition, CNBC has learned.
Previously iHodl reported that Robinhood emailed its clients who reported they were affected by the recent glitches on the platform that caused them to miss out amid massive market crash in the form of the dollar compensation that would be determined on a case-by-case basis.
However, according to new details, Robinhood demands clients to sign a document agreeing not to take legal action against the service in exchange for the compensation.
As a result of the market turbulence, Robinhood even maxed out a $200 million line of credit from Barclays Plc, Citigroup Inc. and JPMorgan Chase & Co. last month.
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