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  • September 15, 2026
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Robinhood Engineers Charged With Fraud Over Alleged Crypto Listing Trades

Robinhood Engineers Charged With Fraud Over Alleged Crypto Listing Trades

In brief

  • Federal prosecutors charged two Robinhood engineers with commodities fraud and wire fraud.
  • The employees allegedly traded perpetual futures using confidential information about upcoming crypto listings.
  • Each defendant allegedly earned more than $50,000 from the scheme.

Two Robinhood engineers allegedly used confidential information about upcoming cryptocurrency listings to make profitable trades on decentralized exchange Hyperliquid, federal prosecutors said Tuesday.

Hefu Chai, 36, and Huaisong “Jerry” Xiang, 30, each face one count of commodities fraud and one count of wire fraud.

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Myriad: How low will Robinhood stock go? Click to make your prediction.

“Today’s charges make clear that corporate insiders cannot evade the…

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