Florida Attorney General James Uthmeier on Thursday opened an investigation into Robinhood Crypto, alleging the trading app misled consumers by marketing itself as the least-expensive place to buy digital assets. His office said the probe will examine potential violations of the Florida Deceptive and Unfair Trade Practices Act and issued a subpoena demanding a broad set of internal documents, with a response deadline of July 31. Uthmeier said consumers "deserve transparency in their transactions," adding that Robinhood’s claims of being the "best bargain" for crypto trading may be deceptive, especially given the platform’s reliance on payment for order flow (PFOF). The practice routes customer orders to third-party firms that compensate Robinhood, a structure the AG suggested can leave investors paying more than on rival venues. Robinhood Markets General Counsel Lucas Moskowitz defended the company, saying it clearly discloses spreads, fees and the revenue it earns from trades, and that customers "can trade crypto at the lowest cost on average". The Menlo Park-based brokerage, which charges no direct commissions, said it will cooperate with the inquiry.