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Robinhood Crypto LLC is the subject of a survey by the Florida Attorney General, who accuses him of misleading customers on the costs of the platform.
According to a July 10 statement By the Florida Prosecutor General’s Office, Robinhood’s claims are the “cheapest way to buy the crypto” are “misleading” and lack substantial evidence.
Robinhood Crypto published a supoena
As part of the survey, the negotiation firm was struck by a summons by the Attorney General requiring all marketing documents and internal documents linked to Crypto services and the structure of the company’s costs.
The Attorney General James Uthmeier said in the press release that Crypto is “a vital component of the Florida financial future” and accused Robinhood of breaking the deceptive and unfair law of Florida.
“When consumers buy and sell cryptographic assets, they deserve transparency in their transactions,” added Uthmeier.
Robinhood’s Advocate General Lucas Moskowitz replied to the survey saying that the company’s disclosure was “the best category”.
The probe will analyze if the Robinhood trade system has a negative impact on traders
The survey will examine how Robinhood’s trade system interacts with third -party service providers.
Robinhood is able to earn money by sending professions from its customers to third -party companies, who then pay the company for the occasion to carry out these professions. This system is called payment for the order flow (PFOF).
Just in: 🇺🇸 Florida Ag Sondes Le Robinhood $ Hood.
Allegues that Robinhood uses misleading practices concerning cryptographic trading promotions and payment of the order flow (PFOF.) pic.twitter.com/6p8ixsfp4z
– Luxalgo (@luxalgo) July 10, 2025
Using this system, Robinhood can allow their customers to trade without invoic a commission because they generate income from paid third parties.
With the investigation, the Florida Attorney General will examine if the Robinhood system is in fact without commission and does not cost a hidden cost for users of the platform.
The survey comes after Robinhood’s shares (Hood) closed yesterday’s negotiation session at $ 98.70, up more than 4%. Commerce after opening hours, Hood had dropped from almost 1% to 3:30 am, according to in Yahoo Finance.
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