Coinbase Global, Inc.

Good afternoon. My name is Maria, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Coinbase second quarter 2021 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1 on your telephone keypad. And if you require any further assistance, just press star 0. and I would now like to turn the call over to your first speaker, Anil Gupta, Vice President of Investor Relations. You may begin your conference.

Good afternoon and welcome to the Coinbase Second Quarter 2021 Earnings Call. Joining me on today's call are Brian Armstrong, Co-Founder and CEO, and Alesia Haas, CFO. I hope you have all had the opportunity to read our shareholder letter which was published on our Investor Relations website earlier today. Before we get started, I'd like to remind you that during today's call, we may make forward-looking statements. Actual results may vary materially from today's statements. Information concerning risks, uncertainties, and other factors that could cause results to differ from these forward-looking statements is included in our SEC filings and shareholder letter available on our IR website at investor.coinbase.com. Our discussion today will include references to adjusted EBITDA, a non-GAAP financial measure. We believe that certain non-GAAP measures of financial results provide useful information to management and investors regarding trends relating to our financial condition and results of operations. Non-GAAP financial measures should be considered in addition to, not as a substitute for, or in isolation from, GAAP measures. You can find additional disclosures regarding adjusted EBITDA, including a reconciliation to net income, the comparable GAAP measure, in our shareholder letter and current report on Form 8K, which are posted on our IR website. Similar to last quarter, we are using FAY technologies to enable all Coinbase shareholders and analysts the opportunity to submit and upvote questions for our management team. We had several thematic questions, so I'll summarize some of them. With that, let's go ahead and get started. So, Brian, Q2 was a strong quarter for Coinbase. What trends do you think are most important to highlight to our investors?

So you're correct. So Q2 was a really strong quarter for us. We had amazing growth in terms of users added to the platform, assets on the platform, revenue, just about everything. And also great diversification across our revenue lines and users.