Robinhood just launched tokenized U.S. stocks across 30+ European countries - minted on Arbitrum and soon to run on its own Layer-2 blockchain. In this episode, Ethan and Tracy unpack the implications of this move for retail investors, traditional exchanges, and the global regulatory landscape. Why is Robinhood offering synthetic exposure to names like Apple and even private giants like OpenAI and SpaceX? What are the legal, operational, and macro risks of turning real-world assets into on-chain tokens? And is this truly the next evolution of financial markets—or just another high-stakes experiment in jurisdictional arbitrage? From Arbitrum to MEV, SPVs to MiCA, we cover the full tech stack, regulatory strategy, and business model behind Robinhood’s bold pivot. Whether you're an investor, developer, or policymaker, this episode offers a front-row seat to the financial infrastructure war now unfolding between TradFi and DeFi. Tune in for a high-voltage deep dive into the future of tokenized finance.