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07/12 00:25

Florida AG Probes Robinhood Crypto Over ‘Lowest Co

Florida AG Probes Robinhood Crypto Over ‘Lowest Cost’ Marketing Claims

Florida Attorney General Files Subpoena Against Robinhood Over Crypto Marketing Claims, Deceptive Pricing

Florida Attorney General James Uthmeier launched an investigation into Robinhood Crypto, citing that the firm has allegedly misinformed consumers that it provides the “lowest cost on average” for digital asset trading. The investigation focuses on the platform's promotional message and business model, in particular, on payment for the order flow (PFOF), which regulators say may contradict the company’s advertised pricing advantage.

The investigation follows a formal subpoena issued to Robinhood, seeking detailed internal documents on marketing, pricing structures, and Florida user trade data from 2024. Uthmeier said his office believes Robinhood’s cost-related claims may violate the state’s Deceptive and Unfair Trade Practices Act.

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