"it may also explain the former SEC employees hired at Robinhood..." Regulators get eventually hired by the companies that they were supposed to regulate and keep their eyes on to protect the people that paid them with their tax dollars is the biggest conflict of interest that the western world refuses to address. This is like the FBI eventually gets hired by the mafia.
Should be easy enough to hawk $100m in shares to that $80bn pot of customer cash. At least they're sort of profitable.