Welcome to this Q2 presentation for K33. My name is Torbjørn Bull Jenssen, and I am the CEO of K33. Q2 has been a really important quarter for the company. We have achieved our MiCA license, which really forms the foundation for our further scaling and growth as we attack the European market. To remind you all first what K33 is, because many people think we are a crypto excha nge, but we are actually more than that. We are a platform built for businesses and investors. We offer professional execution with really tight spreads, no fees, and institutional-grade liquidity, meaning that you can g et in and out of the market with both large and small orders alike without worrying about slippage or poor execution. We offer our clients currency flexibility. You can deposit, trade, and withdraw in eight different fiat currencies, so you can avoid extra FX costs and get your accounting in your preferred currency. We offer tailored custody with multisig set up together with our clients, segregated not only from the company funds, but also from other clients on-chain auditability. We are combining this with lending, w here clients can borrow mo n ey and using their Bitcoin or cryptocurrency as collateral, such that they can free up liquidity without having to sell the assets they have a long-term view on. Lastly, we complement all of this with market-leading research and insight to where the market is headed, dedicated support, access to real humans when you need it. Of course, you can use the platform without ever speaking to anyone. If you have a question, we are always there to answer. This is what we are now truly bringing out to the European market. Looking at the first half of this year, we saw relatively low growth of 10% relative to last year. Q1 was pretty good, but Q2 has been extremely quiet, and the reason has been the general market, where we saw a massi ve dr op in volume across the board. This, of course, affected K33 as well, as our activity is highly correlated to that of the market. More importantly, though, we secured a MiCA license, which really creates the foundation for our further growth and journey from here. We passported initially now to Sweden, Denmark, Finland, and Germany to start addressing these markets more actively before we scale even further. We deepened our relationship with a portfolio company, Sixty Six Capital, a Canadian-listed Bitcoin treasury company, where we now have taken over the management and acquired a 200 Bitcoin call option, giving K33 an indirect exposure of around 95 Bitcoin, 94 Bitcoin. Lastly, reflecting o ur good standing, Cboe Europe reached out and said that they are now ready to list o ur share on their market. So in addition to being available on Nasdaq First North, Cboe is making the share available to a broader investor base because they see demand for a company like K33 amongst their investors and users. Looking at the market, Q2 was actually pretty depressing. Interestingly, after the quarter and just right now, the market is on fire. Bitcoin has taken a massive jump up, and everything indicates that the worst now may be behind us. During Q2, Bitcoin fell down to 58,000, and volumes dropped almost 30% relative to Q1, which itself saw a massive drop relative to Q4. This market drop is what impacted K33. If you have a long-term view, a quiet and bearish market creates opportunity. We saw that opportunity when volatility collapsed and options became increasingly cheap. That is what we took advantage of w hen we brokere d a 200 Bitcoin option deal from K33 on behalf of Sixty Six Capital. We bought volatility cheap a nd secured a lucrative long-term upside exposure to 200 Bitcoin above this price of 100,000 for the next 12 month. For looking at the quarter specifically, this resulted in lower volumes and lower revenue. First half seen together, we saw modest growth below what we really target long term, but still good, taking into account that the general market actually fell. Q2 came in weak, and some of the quietness continued into the summer. We had a mild negative result looking at cash flow and the adjusted EBITDA, and a larger negative result, mainly driven by the revaluation of Bitcoin on our balance sheet. Of course, Bitcoin is volatile. Activity is volatile. Var iation should be expected from quarter to quarter, but the underlying growth trend for both K33 and for Bitcoin is, in my view, very much intact. We see this when looking at the 12-month rolling volume. Yes, we saw a pullback during this summer, but we still managed to keep it above SEK 2 billion, and we show that the longer-term trend is intact. The reason we are able to keep this up is because of our focus on larger private clients, corporate clients, and institutional partners. We already have clients in all these segments, and with MiCA now in place, we are in a position to really start accelerating and scaling this more efficiently. That brings me to the biggest headline of the quarter, the licensing. Across Europe, estimates circle that it was around 2,500 different cryptocurrency providers prior to MiCA, and that around 200, 250 has been granted a license. It is a massi ve washout. This really creates a competitive advantage for the licensed entities, co mpanies like K33. We rec eived our license unconditionally from the Norwegian FSA, and this is what we are now building on as we are starting to move out towards the broader European market. Having notified the regulator about our intention to targeting the Swedish, Danish, Finnish, and German market first. Targeting these markets, we are not going to go after retail. We are going to stay true to our focus, which is on the larger private and corporate clients. Right now, the foundation is in place. It was a massive undertaking. Most companies failed achieving the license. We didn't. Now that is in plac e, and now we can focus 100% on co mmercialization and growth. Looking then over at our Bitcoin balance sheet, we are taking some active measures after the quarter. W e have taken over the management of Sixty Six Capital, the company listed on the Canadian Securities Exchange, where we acquired a 46% equity stake earlier this year. The reason for that acquisition was to combine the synergies of K33's operational business with the Bitcoin balance sheet of Sixty Six. And what we're proving now is that we can really harness those synergies by actively managing the Bitcoin of Sixty Six Capital, moving them from an ETF on-chain, seizing opportunities like buying a call option, and putting these Bitcoins to work in the K33 business model. We can prove that it's possible to not only sit long Bitcoin and be exposed to what I believe will be the b est-performing asset of t he coming years, but you can do better. You can also generate a yield, an alpha, like an excess return. That is what we're now starting to prove with Sixty Six Capital to the benefit of both companies. More interestingly, Sixty Six Capital isn't the only Bitcoin treasury company out there. There's a ton of others with a strong balance sheet denominated in Bitcoin, but with a need of a complementary business model. That represents a massive opportunity for K33, where we're using Sixty Six Capital as the proof of concept, which we potentially could bring to others and scale with other partners in the industry as well. To summarize, we are now licensed to scale. The focus is shifting from achieving and obtai ning the MiCA license towards accelerating commercial growth. The market looks li ke it has bottomed and is now starting to wake up. Volatility is expected both in the K33 activity and in the market. But the long-term trend, I believe, is extremely positive, and we will stay sharply focused on our strategy. We will continue expanding through partners, but now on a European scale. We will continue our iterative product and feature development, giving our clients what they need, adding new services like we did with loans earlier this year. We have other services that are coming up and exciting features that will be announced in due course. And we're really building this to bring kind of the fu ture of digital finance. We sti ll believe cryptocurrencies, stablecoins, and that the whole financial industry will face a massive change over the coming years. In that change, K33 will be a driving force in Europe. Thank you so much, and have a great day.