Robinhood (Nasdaq: HOOD) is facing an investigation by Florida’s top prosecutor for claiming that it offers crypto trading “at the lowest cost on average.” The state cop is also issuing a subpoena to the trading platform to uncover internal documents.
“The Least Expensive Way to Purchase Crypto”
According to Florida’s Attorney General, James Uthmeier, Robinhood’s crypto unit falsely promoted its platform as “the least expensive way to purchase crypto—when there is evidence to suggest that is not true.”
The prosecutor stated that Robinhood Crypto is allegedly violating the state’s Deceptive and Unfair Practices Act.
James Uthmeier, Florida’s Attorney General
“When consumers buy and sell crypto assets, they deserve…
