Brian Armstrong: Yes, I’ll just add to that. I think we — generally, it’s important to just grow the size of the pie here. Crypto is still an infancy livelihood. We generally mean this when we said we want crypto to be integrated into every financial service business out there. But fintech apps, neobanks, traditional banks, traditional financial service companies, these ETFs, right? Like we don’t view it as zero sum. We view it as positive sum. And — the goal is really to help update the financial system globally, and we need to do that. We needed this to be integrated in all kinds of products and services out there. And to Lisa’s point earlier, we didn’t really see any material change in fees in Q2. So I don’t think that’s something that would have driven that in this case.
Anil Gupta: Tamika, we’ve got time for one more question, please.
Operator: Your final question comes from the line of Ben Budish with Barclays.
Ben Budish: Hi, good evening and thanks for taking the question. I wanted to circle back to the question kind of around simple versus advanced trader. I think since like last December, it seemed like the simple trader has been kind of remarkably consistent, whereas the advanced trader sort of comes and goes with market volatility. I was wondering if you could talk a little bit more about the sort of different customer profiles you see? How do they kind of compare? Is it sort of a demographic or an income or sort of interest level thing because I think the we would sort of assume that maybe the advanced trader is more engaged, but it seems like the simple trader is there quite consistently. So what are your kind of reads on the sort of characteristics of these customer types other than the choice they’re making with how to trade?
Brian Armstrong: Yes, there’s — it’s tough to answer to your question because it’s a wide variety of different people who are accessing it. I do think that — so when we think pro trader, it could mean a variety of things, right? It could mean sort of like a Pro trader [ph] or semi pro, they may actually be trading through our interface, they’re more sensitive on fees. They’re more interested in short-term trading, where the simple traders may be doing more buy and hold, setting up a weekly or a monthly kind of recurring buy that dollar cost averaging type stuff, which can be more consistent. Now I think procreator could also mean hedge funds and the largest market makers in the world and pension funds and endowments and sovereign wealth funds, so it really runs a wide gamut.
I think that we have more work to do to serve the Pro trader segment of the market with some of those features that I mentioned around more order books, derivatives, trading, ways for them to get leverage is a big one, unified margin. And so I think in those I think as we mature our product offering around the Pro traders, which we still have more work to do. I think hopefully, we will see that in — even in up and down markets, we’ll see more activity be more sticky there because Pro traders in theory, I think you’re right. They should be able to find opportunities to trade whether the market is — no matter what the market is doing. So yeah, I think we need to mature our Pro trader offering a bit and that may emerge over time.
Ben Budish: I appreciate it. Thanks for the color.
Anil Gupta: Okay. Well, that does it for today. Thank you all for joining us, and we look forward to speaking to you again on our next call.
Operator: This concludes today’s call. Thank you for joining. You may now disconnect.
