Crypto trading smartphone application Robinhood responded to recent Seeking Alpha accusations published in an exposé by Logan Kane.
Crowd-sourced content service for financial markets blamed Robinhood for accepting payment for order flow and selling order data for over ten times as much as other brokers engaged in the practice.
In the response, Robinhood claimed that they do not violate any laws referring to National Best Bid and Offer (NBBO) principle and SEC Rule 606. In addition, crypto trading application explained it’s business model and practices and denied selling customer data.
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