On the fifth anniversary of the GameStop trading halt, Robinhood CEO Vlad Tenev revisited the controversial event, emphasizing the need for financial infrastructure reform. Tenev highlighted the 2021 trading restrictions as a systemic issue caused by outdated settlement cycles, advocating for stock tokenization and real-time settlement as solutions. Tenev's remarks come amid renewed interest in meme stocks and criticism of Robinhood's recent actions, such as offering 0% borrowing costs for shorting certain stocks. He argues that tokenization could reduce systemic risk and enable 24/7 trading, with Robinhood already launching tokenized U.S. stocks in Europe. Tenev calls for regulatory support to advance these innovations in the U.S., citing the SEC's current openness to experimentation and the potential impact of the CLARITY Act.