TechFlow reported that according to Cointelegraph, a federal judge in the United States approved a class action lawsuit against the cryptocurrency and stock trading platform Robinhood and paid a settlement of US$9 million to settle the lawsuit regarding its "Refer a Friend" program, which allowed unsolicited text messages to be sent in Washington.

Robinhood’s “refer a friend” program allowed users to generate and send text messages to their mobile contacts through the trading app, inviting them to join the platform. According to the 2021 lawsuit, this violated Washington state’s Commercial Email Act and Consumer Protection Act.