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Robinhood Ex-Employees Charged With Crypto Insider Trading

Guavy AI Editorial Team
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Two former engineers at Robinhood Markets Inc. (HOOD) have been charged by U.S. prosecutors for allegedly using confidential information to trade cryptocurrency-linked perpetual futures.

Hefu Chai, 36, and Huaisong Xiang, 30, are accused of purchasing perpetual futures tokens on Hyperliquid between 2025 and 2026 before Robinhood announced the listing of the underlying cryptocurrency tokens on its own crypto platform.

The engineers allegedly profited more than $50,000 from their illicit trading. They have been charged with one count each of violating the Commodity Exchange Act.

This news comes as HOOD stock continues to decline, having fallen over 3% at close on Tuesday and further in the overnight session due to the failure of the CLARITY Act to advance in the Senate.

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