Coinbase Global, Inc. (COIN) Q2 2025 Earnings Call

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WEBVTT 00:00:00.875 -- 00:00:05.139 Good afternoon. My name is Kate and I will be your conference operator today. 00:00:05.139 -- 00:00:10.825 At this time, I would like to welcome everyone to the Coinbase second quarter 2025 00:00:10.825 -- 00:00:16.871 earnings call. All lines have been placed on mute to prevent any background noise. 00:00:16.871 -- 00:00:20.195 After the speaker's remarks, there will be a question and answer session. 00:00:20.195 -- 00:00:25.260 If you would like to ask a question during this time, simply press star followed 00:00:25.260 -- 00:00:28.043 by the number one on your telephone keypad. 00:00:28.043 -- 00:00:30.966 If you would like to read your question, press star one again. 00:00:30.966 -- 00:00:36.051 Thank you. Anil Gupta, Vice President, Investor Relations. 00:00:36.051 -- 00:00:38.534 You may begin your conference. 00:00:38.534 -- 00:00:42.658 Good afternoon and welcome to the Coinbase Second Quarter 2025 Earnings Call. 00:00:42.658 -- 00:00:47.583 Joining me on today's call are Brian Armstrong, co-founder and CEO, Emily Choi, President 00:00:47.583 -- 00:00:51.207 and COO, Alicia Haas, CFO, 00:00:51.207 -- 00:00:54.050 and Paul Grewal, Chief Legal Officer. 00:00:54.050 -- 00:00:57.848 I hope you've all had the opportunity to read shareholder letter which was published 00:00:57.848 -- 00:01:01.012 earlier today on our investor relations website 00:01:01.012 -- 00:01:04.718 during today's call we may make forward-looking statements which may vary materially 00:01:04.718 -- 00:01:09.345 from actual results information concerning risks uncertainties and other factors that 00:01:09.345 -- 00:01:13.812 could cause these results to differ is included in our sec filings 00:01:13.812 -- 00:01:18.500 our discussion today will also include ...