Brian Armstrong

The market will basically give you very clear feedback about which policy they most believe should be implemented and maybe that helps legislators decide what to do.

Yeah, well, we just announced stock trading on Coinbase, prediction markets back in December, and we've seen really rapid growth of that since then.

We also have a number, we actually now have millions of assets, believe it or not, crypto assets you can trade on Coinbase.

So it's far ahead of the competition.

one you mentioned and others.

And we also allow people to trade CFTC regulated perpetual style futures on Coinbase, which is unique.

So I would say we caught up on the things that we were behind on and we're actually pretty far ahead on some of the other ones.

Well, there's a number of crypto companies that grew up internationally that have tried at various points to come into the US.

So far, they haven't been successful.

I mean, we have the strongest brand and the most trusted brand in crypto, certainly in the US and a number of other countries where we're the leader.

The way I think about this is that our strategy, really, we call it our asset accumulation strategy.

So because we have the most trusted brand, people feel comfortable storing their assets with us.

We now have about half a trillion dollars of assets.

And assets tend to be pretty sticky.

People don't move them very often.

And the more products you can connect into those assets, people are less likely to churn.

So that's why we're offering more trading products and DeFi BorrowLend and Coinbase Card and all these kinds of things.

And so we can monetize better the more products we have plugged into those assets.

We can invest that back in being the most trusted, and this asset accumulation flywheel just accelerates.

So we're storing more crypto assets than any other company in the world I'm aware of by a pretty wide margin, and I think that's gonna be defensible for a long time.