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    Home»Crypto News»Robinhood Probed by Florida AG’s Workplace Over Allegedly ‘Misleading’ Crypto Pricing Claims
    Robinhood Probed by Florida AG’s Workplace Over Allegedly ‘Misleading’ Crypto Pricing Claims
    Crypto News

    Robinhood Probed by Florida AG’s Workplace Over Allegedly ‘Misleading’ Crypto Pricing Claims

    By Crypto EditorJuly 11, 2025Updated:July 11, 2025No Comments3 Mins Read
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    Robinhood Crypto is underneath investigation in Florida for allegedly falsely promoting its platform because the least costly manner to purchase crypto.

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    In a Thursday press assertion, Florida Lawyer Basic James Uthmeier mentioned his workplace has proof to counsel that crypto merchants really pay extra, on common, when utilizing Robinhood than when utilizing competing platforms.

    “Crypto is a crucial element of Florida’s monetary future, and President [Donald] Trump’s efforts to advance the crypto market will make America stronger and wealthier. When shoppers purchase and promote crypto belongings, they deserve transparency of their transactions,” Uthmeier mentioned. “Robinhood has lengthy claimed to be the most effective discount, however we consider these representations had been misleading.”

    On the coronary heart of Uthmeier’s allegation is Robinhood’s cost for order move (PFOF) enterprise mannequin. PFOF permits Robinhood to supply commission-free buying and selling by as an alternative producing income from routing its buyer trades via market makers in alternate for a reduce of the earnings. Critics of the observe — which Robinhood additionally makes use of for inventory buying and selling — have complained that PFOF presents an inherent battle of curiosity, doubtlessly incentivizing the corporate to route prospects’ trades via the market maker providing probably the most fee, not the one with the most effective worth for patrons.

    In 2020, Robinhood paid $65 million to settle a U.S. Securities and Alternate Fee (SEC) enforcement motion alleging that the corporate misrepresented the standard of its executions of buyer trades. Robinhood didn’t admit or deny the SEC’s findings. Below former Chair Gary Gensler, the SEC thought-about banning PFOF however finally didn’t. PFOF is banned in the UK and will likely be banned within the European Union starting subsequent yr.

    Robinhood CEO Vlad Tenev has lengthy defended the observe, telling CNBC in 2023 that PFOF was “inherently right here to remain.”

    “Our disclosures are best-in-class — We disclose pricing data to prospects through the lifecycle of a commerce that clearly outlines the unfold or the charges related to the transaction and the income Robinhood receives. We’re proud to be a spot the place prospects can commerce crypto on the lowest value on common,” mentioned Robinhood Markets Basic Counsel Lucas Moskowitz in an emailed assertion.

    Uthmeier’s subpoena is looking for a slew of data from Robinhood, together with documentation of how the platform determines pricing for transaction rebates or PFOF practices with market makers, paperwork containing comparative worth analyses of different crypto exchanges, and paperwork referring to the sale or entry of customers’ crypto buying and selling knowledge.

    Robinhood has till the tip of the month to reply to the Uthmeier’s subpoena.





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