What does that mean? And maybe, like, construct a transaction, agentic transaction, and show me where Coinbase integrates with every point of that transaction or, you know, even the con- conversation or communication between a user and their agent.

Yeah.

Gladly.

So the, the, the best way I would describe it is, is AI Phi breaks down into two main categories.

One is agentic payments, and the other is agentic trading.

Coinbase's core competencies are payments and trading, so there's a very natural intersection between the two of those two things.

And to talk specifically about where Coinbase fits into this whole stack and why I think we have this AI Phi moment going on right now and why it's going to run on these open programmable rails, I'll take the example of your Claude agent that is going off and paying for something like generating an image on the internet.

Can you give me-- You working on several different projects at Coinbase, can you give me a high level about, you know, X402, what Coinbase for Agents is, and then maybe a lot about what Coinbase Advisor is? 'Cause that feels like, you know, really stepping forward into AI, generating that data in-information intelligence to allow you to make intelligent investments.

Can you maybe more of a high level but maybe a little bit into the weeds describe what this is like, um, in terms of the interactions with an API, the paywall, negotiation, the signing, all of those things that go into the settlement act- uh, that's taking place there?

Perfect.

Yeah, happy to.

So to, to sort of provide the high level, and then we'll kind of dive levels deeper, there's really three important, uh, entities or roles to play here.

There is the buyer, who's the person making payments to these different services and whatnot.

That could be an agent, that could be a human, it could be somebody with a chatbot.

There is the seller, who is ultimately the one providing the good that has integrated with X, 402.

Um, do you think we're at a point where this is actually going to hit in the next six months, or do you think it's more like a year out?

And yeah, all that.

Yeah, Advisor was a ton of fun.

So yeah, that was my project for the past year.

Coinbase has this program internally called NextBets.

And the whole idea is anyone across the company can pitch an idea to the executive team.

And if they like it, they give you a team to go fund it and build it out over the past year.

So the idea that came to them with was Advisor.

But do you think like everybody using these for their research is like causing a more fragile market? Yeah.

What can you do with AI on Coinbase today?

today?Great question.

So it really comes down to two distinct features.

One is agentic payments and the other is agentic trading.

And they overlap, and I'm happy to get into that.

But at the highest level, if you are a Coinbase retail user, the fastest, quickest path for you to start interacting with our AI products is through the Coinbase Advisor.

It is an in-app experience that allows you to get fiduciary financial advice across all of the assets in your portfolio in a personalized manner.

What does this mean in actual practice? How does this transition start to happen? And yeah, like, how do we go from a world where everybody has a smartphone and they're, they're using that primarily to a world where agents are primarily the, the front end that, that people are interacting with and they're what are driving the economy?

Mm-hmm.

In the same way that electricity or water or anything else is.

And part of that process is naturally going to be the, uh, explosion of its use, but then also the continual decrease in the cost of it, as well as the ability for people to have better piping and infrastructure through which they can buy or speculate or, or even hedge their exposure to this new utility.

All of these financial primitives, or at least a large part of them, exist today for these existing utility markets, and I suspect we'll see this continue over time.

But the great thing about tokenization, as we all know, is that it makes it just so much cheaper, faster, more efficient for these markets to exist and for them to proliferate.

So just kind of circling back to Coinbase as, as we kind of come to a close here in a few, um, what is the future of Coinbase's AI rollout? Like, what is the grand vision that, you know, you talk to Brian or talk to, to Emily, and you're like, "Here's what the Coinbase AI product vision is going to be." What is that, what is, what is the kind of broad end game there, and how does that look like in the scope of fintech applications or, you know, kind of like consumer grade investing apps?

Yeah.

So broadly, the goal is to make Coinbase the backbone of the post AGI economy.

When you wake up and you work on these products every day, what does that future look like?

To me, my, my strongest conviction belief is that giving agents financial independence is how we give them more autonomy, and ultimately remove the need for a human in the loop.

And I think the very clear early use case is for trading, and the ability for me to go, "I don't know what to invest in.

I'm interested in space.

Let's figure out how I can do that, and have the AI help me with that." But ultimately, I think the direction that we're going is allowing agents access to pay for things as well, makes them first-class citizens of the internet.

And that's something that's very uniquely enabled by giving an agent access to money, and the ability to go pay for whatever it wants.

So as we start to see microtransactions in this agentic economy start to flourish, I think we'll be in an entirely new paradigm of how we think and interact with the internet.

Um, how, how are you thinking about that? How do we ensure that the data that AI is using on our behalf is sound?