Chang’s Jottings

Chang’s Jottings

Robinhood’s Long Game: From Zero Commission to Digital Stock Exchange

Robinhood launched tokenized U.S. stock trading Europe in June, here is why it could change everything.

In 2022, Robinhood began developing its blockchain applications. On June 30, 2025, it officially launched tokenized stock trading in France. For the first time, European users could buy and sell over 200 U.S. stocks and ETFs as tokens, companies like Nvidia, Apple, and Microsoft, among others. All of these trades happen on the blockchain, with markets running 24 hours a day, five days a week. The commission? Still zero.

Chang’s Jottings

Taxi? Try Tesla: The Low-Key Robotaxi Launch That Could Upend Ride-Hailing

On June 22, 2025, in Austin, Texas, Tesla quietly launched its long-anticipated paid ride trial for the Robotaxi. The rollout wasn’t dramatic. Just around 20 Model Y vehicles appeared on the roads—not the much-talked-about Cybercab revealed last October, the one stripped of pedals and a steering wheel. These were familiar cars. Mass-produced, mostly unmodified. In the back seat, there was a small screen for passengers to interact with. That’s about it.

Chang’s Jottings

Even the Best Get Burned: The Hard Truth About Investing

In 1996, David Einhorn was only 27. With just $900,000, half of it from his parents, he set up Greenlight Capital. On Wall Street that sum was little more than pocket change, but in Einhorn’s hands it became a kind of philosopher’s stone.

Chang’s Jottings

Stablecoins: Still Early, But Already Everywhere

What Is a Stablecoin?

A stablecoin is a digital token built on blockchain, backed by real-world assets, most commonly, the U.S. dollar. Think of it as a “blockchain version” of the dollar. Like Bitcoin, stablecoins are decentralized and borderless. Unlike Bitcoin, their value doesn’t swing wildly from day to day.

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