One is making sure that we do this with enough safety and safeguards in this wallets are in crypto is an emerging ecosystem, its an emerging market. We want to make sure that it can. We can expand the access to the market, but do it safely so thats? One reason – and the second is – were trying to take a different tack here by building it in public uh. What i mean by that is like doing a phased roll out include some of the customers and iterate on the feedback and just share their feedback back and so on, and the reason again, stepping back is that weve done the same thing for robinhood on the stock Side taking something really inaccessible, unaffordable, inscrutable for most people and made this accessible and intuitive to use. We want to do the same thing with wallets and by the way. The the other thing here is that the investors that are in the market are very different from. You know what you think right its a more diverse set of investors, two out of five women on robin hood platform, invest in crypto. So we want to make sure that we get this right and i should have said from the from the outset: you spent more than a decade at google sort of cutting your teeth in tech. You ran product engineering there on the tech side. I think silicon valley launching products its really about user engagement. Mobile first robinhood has taken some of that into its own products, but regulators, meanwhile, have sort of framed it in some instances as gamification.

They talk about the addictive nature and the potential dangerous side of making products too easy to use. How are you balancing that at robinhood, making it fun and entertaining and usable, but also safe for customers, look um, kate? I i dont think we should conflate accessible design with gamification when you think about again, like i saw this at google firsthand, the next generation of customers, users, theyre, visual learners and actually forget next, even next generation. The rest of the world, like didnt, have a luxury of growing up on a laptop theyre, all like mobile first users, which means that they need that mobile force accessible design it. We should not conflate accessible design and intuitive to use and lets not forget that what it does whats the before and after here that theres millions of americans that have been cut out of the market before and suddenly between zero fee and intuitive access and unintimidating accessible Design we have more women, more minorities, more younger people participating in the market. This is the greatest wealth creation engine. We need more people to do that. Wealth creation for sure, especially in crypto weve, seen a lot of volatility in that market. Gary gensler, chairman of the sec, was on a panel yesterday talking about the potential for thousands of these cryptocurrencies, not even sticking around for the next couple of years. He called it sort of wildcat banking referred to it as sort of the pre banking regulation era.

How is robinhood preparing for the potential of some of these cryptocurrencies, not making it and customers potentially dealing with the implications? I think, like i said earlier, thats the reason were taking the time, even with wallets, to make sure that we are. I mean, as as my improv uh, you know, lecturer used to say its yes, and its safety and accessibility were so aligned with the regulators and our customers right. We want to make sure that theres protection and, at the same time we want to expand access to the market and thats. The approach were going to take in crypto. This reminds me, as you pointed out, i cut my teeth in the internet world and for me, the power of giving access to an emerging market to a whole lot of folks, and let a lot more diverse set of folks participate in this is un. Its undeniably good – and how do we do that? Of course, we have to make sure that we have safeguards in place in fact, ill. Give you an example right with the wallets uh experience that were rolling out, we said, look well, take the phase, rollout approach, but, and then add safety features right at the get go. A simple example is this multi factor authentication? Basically, what it means is that we want to make sure that its you uh, who youre transacting with when you say, youre, trying to transfer coins, etc, features like this and thats.