Florida AG Investigates Robinhood Over Crypto Pricing Claims

Florida Attorney General James Uthmeier has initiated a state-level investigation into Robinhood Crypto, scrutinizing its marketing claims of offering the "lowest cost on average" for cryptocurrency trades. The probe centers on potential violations of Florida's Deceptive and Unfair Trade Practices Act.

A subpoena has been issued demanding documents related to pricing structures, marketing materials, and user trade data. The investigation questions whether Robinhood's payment for order FLOW model—a practice where brokers route orders to market makers in exchange for compensation—may result in higher effective costs for users despite advertised low fees.

The action coincides with shifting regulatory winds under the Trump administration, which has taken steps to foster crypto market growth. "Crypto is a vital component of Florida's financial future," Uthmeier stated, aligning the investigation with broader political support for digital assets.