Brian Armstrong

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.

Yeah, well, just to be clear, I'm not necessarily seeing a crypto downturn coming.

I'm not sure where you're hearing that.

To me, that just sort of happens.

Every month, it's either up or down, so I don't know.

I don't think about it too much.

But we did acquire, I believe, 10 companies last year, and

Yeah, there's opportunities in any market.

When the market is up, we are just trying to scale and onboard new users and double down on the hype.

And when markets are down, we do get acquisitive.

We can buy back our stock.

There's all kinds of opportunities in any market condition.

That's a great point.

I mean, yeah, I remember in one day, sometimes I go speak with members of the government and bank CEOs.

And then I also go to crypto meetups where there's a bunch of hackers.

And they're like, why are you dressed like a banker?