US EditionFlorida AG Accuses Robinhood of Falsely Promoting Itself as ‘Least Expensive’ Way to Buy Cryptocurrency, Launches Probe
LEON COUNTY, FLORIDA, JUL 10 – Florida Attorney General alleges Robinhood misled users about lowest crypto trading costs due to hidden fees from payment for order flow, subpoenaing documents and user data from 2024.
- On July 11, 2025, Florida’s Attorney General James Uthmeier began probing Robinhood Crypto for allegedly misleading customers by claiming its platform offers the cheapest option to trade cryptocurrency.
- The investigation follows allegations that Robinhood's promotion of low trading costs misleads customers because trading on its platform may actually be more expensive due to its payment for order flow structure.
- Uthmeier's office issued a subpoena seeking internal documents such as marketing materials, trading data, employee names, and commission structures to verify whether Robinhood's practices comply with Florida law.
- Robinhood claims it offers customers the "lowest cost on average" and "the most crypto for your money," but Uthmeier stated that "those representations were deceptive" and showed evidence that users may pay more than on competing platforms.
- Robinhood is required to provide a response to the subpoena by July 31, 2025, and depending on the investigation's outcome regarding the platform's transparency and cost-related claims, regulatory measures may follow.
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37 Articles
Robinhood Crypto Probed Over Allegedly Misleading Investors
Florida’s Attorney General James Uthmeier has launched an investigation into Robinhood’s crypto trading promotions, alleging the company misled customers about the true costs of trading digital assets on its platform. According to a report from Bloomberg, the probe centers on Robinhood’s marketing claims that it offers the “lowest cost on average” and gives users “the most crypto for your money,” which state officials say may be deceptive. This …
Florida AG accuses Robinhood of falsely promoting itself as ‘least expensive’ way to buy cryptocurrency, launches probe
Florida Attorney General James Uthmeier said Thursday that his office has submitted a subpoena to “uncover internal documents” belonging to Robinhood Crypto, LLC, after alleging that the company misled its customers by promoting itself as the “least expensive” way to purchase cryptocurrency.
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