Florida's Attorney General has initiated an investigation into Robinhood's cryptocurrency pricing claims and alleged misleading advertising practices.
The investigation focuses on Robinhood's payment for order flow model, which can potentially hide hidden costs in crypto trading for users.
Authorities are looking into allegations that Robinhood misrepresented crypto prices and other market practices, potentially violating Florida's Deceptive and Unfair Trade Practices Act.
The outcome of the investigation could impact how Robinhood conducts its business and markets its services across the U.S., potentially leading to penalties or changes in advertising practices.