Analysis: The Robinhood vs. AMC Fight Is Just the Beginning — the U.S. Stock Market May Be Facing Its "Napster Moment"

Odaily reports that Robinhood recently tokenized stocks such as AMC, drawing public criticism from AMC's CEO, but this model can lower the cost and barriers for global investors trading U.S. stocks. Blockchain-driven stock tokenization is reshaping the U.S. stock brokerage industry, and its impact may be similar to Napster's disruption of the music industry 25 years ago. Analysts note that tokenized stocks still face issues such as voting rights, custody of the underlying shares, and whether token assets are fully backed, but regulators have begun advancing related frameworks. Nasdaq recently invested $100 million in blockchain finance company Payward, and the trend of putting stocks on-chain is accelerating, making it difficult for threats or lawsuits to block this technological development in the long term. (Fortune)