I would like to send a random binary data sequence to a rpi GPIO at a particular frequency and then read the data stream off a scope. Is there a way of implementing this through python?
This assume you are sending the random data stream from the Pi.
pigpio waves will do what you want as long as you do not need better than 1 µs resolution.
For Python see wave_add_generic.
Perhaps have a look at the morse code example to get an idea of the sort of code you will need to write.
If you just want to view a random data stream sent to the Pi use piscope.