Good morning, and welcome to this Q1 presentation and Strategic Outlook presentation for K33. My name is Torbjørn Bull Jenssen, and I'm the CEO of K33. Today, I have some really exciting news to share. At K33, we are certain that Bitcoin will be an important part of the financial future, that Bitcoin will become a cornerstone of the global financial system. There are a lot of trends proving this. In the U.S., Bitcoin is now becoming a strategic national reserve. We see investment banks embracing Bitcoin, building out custody solutions and financial products on top of the cryptocurrency. The US Bitcoin ETFs were the most successful ETF launches in history, acquiring more capital in just one year than gold did in 20. Over the past 15 years, Bitcoin has been the best-performing asset for every four-year rolling window. The big question that our investors are asking me all the time is, how will K33 capitalize on this? How will we capitalize on the megatrend on Bitcoin, where Bitcoin is now approaching takeoff in terms of adoption? The simple answer is that we are offering a superior solution for clients to buy, sell, and store their Bitcoin without worry. The problem we are solving is the fact that it's hard to find a crypto exchange you can trust. There are hundreds of exchanges to choose from, but there's a lot of snags with the different providers. Some are really expensive. Some have a lot of hidden fees. With a lot of them, you risk that your funds can get frozen. When we draw to your bank, you might be blocked. As a user, it's hard to navigate this landscape, and you often find yourself needing more than one exchange to get the full product spectrum. This isn't good enough. I believe that investors in Bitcoin and in cryptocurrency deserve better, which is precisely why we're building K33. With K33, we got you covered. We offer institutional-grade trading with deep liquidity, no hidden fees, no frozen accounts, direct withdrawals to your bank account, full FX flexibility. A unique differentiator we have is personalized support. With K33, all our clients are seen as a partner. If you need help and assistance, be it with onboarding, a transfer, documentation, our client managers are ready to assist you. That's a great value add for those larger clients that K33 cater to. Our users are extremely happy about this service. We get new users every day reaching out, telling us how they really, really appreciate the service we're offering. Not only that, we are increasingly now starting to work with partners. While the majority of our activity still comes from high-net-worth individuals and family offices, we're starting to see more and more coming from corporate clients and partners. In Norway, we have several public entities doing their Bitcoin trading through us. We are now developing the first kind of crypto brokerage-as-a-service with a traditional investment firm, enabling them to offer crypto investment to their clients, leveraging K33. We have several ongoing conversations with Nordic wealth managers, brokers, and even banks. During the quarter, we even onboarded the first Norwegian bank as a corporate client of K33. That bank has now bought a little bit of Bitcoin to get up the learning curve, and they did that with us at K33. How is this reflected in our numbers? We continue to show really strong growth. Year over year, we grew 200%. Relative to Q4, we saw a 20% growth despite the fact that the general market saw a 10% drop in activity. We now have six consecutive quarters of strong growth behind us, and we are working really hard to continue this momentum and even accelerate it going forward. We are realizing this while we are investing in our service. During Q1, we launched 24/7 bank deposits, leveraging PSD2, enabling users to have an even better access to the market and an even better user experience. We are building this crypto brokerage-as-a-service solution, as I mentioned, and we are onboarding new partners, which will generate revenue over time. We're also preparing for our MiCA license, this pan-European regulatory framework, which will enable us to more effectively scale geographically, but also will be a key enabler for traditional financial players to come into the sector. Those financial players that K33 long-term expect will offer crypto and will need a partner, and where K33 is supposed to be the key partner. Because of this investment, our result for the period was slightly negative, as anticipated, since we did invest in these initiatives, which will drive growth in the future. We are still tiny, though. The market we are addressing is massive. It's a part of the global wealth management sector. Globally, wealth management generates around $1.5 trillion in revenue. What is emerging now is wealth management services for Bitcoin and digital assets. If we conservatively estimate that on average, you'll see a 4% allocation. Looking at the current adoption rate, I mean, it's likely that it'll end on twice as that within a few years. Assuming like a 4% average allocation, the revenue potential for digital asset wealth management globally sits around $100 billion a year. For the European market, we are looking then at $25 billion. This is the market opportunity that K33 is addressing. The 63 million high-net-worth individuals globally who are finding themselves with a desire for diversifying and starting to invest into Bitcoin. This is the reason why financial institutions are coming into the space, because they see client demand. This is the revenue stream that both K33 will help kind of deliver to traditional financial players, but also take a part in by developing the platform further. We have the right product. The product is live and working. We have the right clients. We're working with partners already. The regulatory hurdles are being solved with MiCA. What is missing? What is blocking us from truly realizing the full potential here? As I've said before in past interviews, K33 is a financial company. Yes, we operate in the crypto space. Yes, we use a lot of technology. At the end of the day, we are a financial player. As a financial player, the core building block that you kind of develop your services from is your balance sheet, which means that to truly unlock the full potential of K33, we need to build a strong balance sheet. This is what I'm extremely excited about announcing today. What is better than for K33 to build this balance sheet on the hardest asset, on the fastest growing asset in the financial ecosystem, Bitcoin? Today, K33 is announcing the Bitcoin Treasury strategy. There are a lot of companies out there with a Bitcoin Treasury strategy. It's very hot. For K33, it's a key difference to us. A Bitcoin balance and a strong Bitcoin balance is an enabler. It's not only a strong conviction bet on Bitcoin. It's also an enabler for new business. I have secured the initial financing to do the first purchase of Bitcoin, to build the starting point or a strategic Bitcoin reserve, which will help us unlock improved margins, new product lines, and secure new partners, and through that, generate more revenue. To dig a bit deeper on the synergies, it's important to realize that K33 is a broker. We're not an exchange. We're not matching customer with each other. We are a client on the exchanges, and then we offer the services that exchanges offer, access to the market, to our clients. With a strong balance in Bitcoin, we can use the Bitcoins as collateral and hold that on a venue like Binance or Deribit, and then re-broker those capabilities to our clients so that K33 clients can get direct access to the whole market, but without having to sign up to these other venues themselves. You can then ask, wouldn't this just add cost? The truth is actually the opposite. We are aggregating the volume and flow across many different clients, securing preferential terms that each of the clients couldn't get on their own. This is what enables us to deliver both a superior product to our clients while carving out a healthy margin for ourselves. Furthermore, we strongly believe that Bitcoin collateralized lending will become a booming part of the industry going forward. To be able to participate in that at scale, you need a strong balance sheet. Hence, why we're building a strategic Bitcoin reserve in K33. We are now working with high-net-worth individuals, with prop traders, with corporate entities. We're going to scale by working more with traditional brokers, wealth managers, and eventually banks. This initial move of building a balance sheet, building it in Bitcoin, is what will accelerate the growth we've seen in the past and really enable us to deliver on our long-term promise. The Bitcoin adoption is accelerating, and we are ready to not only be a part of this journey, but help drive the next wave of adoption for Bitcoin in Europe and beyond. Thank you so much.