Rick Wurster

And the reason we're not actively considering it is our mission is to make our clients better off in their financial life.

5% of people, and actually I read this on Bloomberg very early this morning, 5% of people that put money into a gambling app take out more than they put in in the first place.

So gambling has proven to be a net negative opportunity.

contribution to your wealth.

Now it's fine if you use it as entertainment and you're doing it in a thoughtful way, but our mission is to make clients better off in their financial life and enhance their wealth.

From my viewpoint, we want to do everything we can to put our clients in the best chance to grow their wealth.

Right.

And I think it's fine for people to gamble.

People are going to gamble and hopefully they'll do it in a responsible way.

The thing I worry most about is the conflation between gambling and investing.

If you're a young investor, you've got $10,000 in your account, you can move it easily between investing in a stock that over the long run is likely to go up over the course of your life.

Right.

Or you can go bet on the Eagles game that weekend.

I think that is not...

the greatest thing for the retail investors.

Well, crypto has become an asset class that many people have their full confidence and trust in, and they view it as a store of value.

And on our platform, we have lots of people engaged in crypto today.

In fact, our clients own 20% of all the crypto ETPs in our country.

So our clients are big investors in crypto, and for most people,

buying exchange traded product is the the right way to go because they're not looking to transact in bitcoin they're just looking to get exposure to the price movements now in addition to offering the etp we will in time offer spot crypto and we're confident that we've got clients that are sitting at digital native firms that have been long schwab clients that we know want to bring those assets back to schwab and we're looking forward to being able to do that this year next year