TechFlow news, July 11 — According to Bloomberg, the Office of the Attorney General of Florida is investigating Robinhood Markets Inc.'s cryptocurrency business, accusing the popular fintech platform of using deceptive practices to mislead consumers about trading costs.
In a press release, the Florida Attorney General's office said Menlo Park, California-based Robinhood "falsely advertised" its trading platform as the "cheapest way to buy cryptocurrency." As part of the investigation, the Attorney General's office has issued a subpoena to Robinhood demanding marketing materials and other internal documents related to its cryptocurrency services and pricing structure.
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