What is the current market capitalization of Coinbase 
scussion to be had. Now the press is talking about it in India. Now there's meetings happening that are going to talk about how we get to the next step. So that's generally our approach with international expansion.
Anil Gupta -- Vice President, Investor Relations
Our next question is about Coinbase Cloud. What update can we provide for shareholders there? Are there other principal hurdles? What are the principal hurdles to growth, education, functionality, or anything else? Brian?
Brian Armstrong -- Co-Founder and Chief Executive Officer
Yeah. So Coinbase Cloud, I'm really excited about. I mean if you just again zoom out, crypto is such a new market. That means there's a lot of start-ups being funded that are coming in to build applications in this space.
And it's not just start-ups. There's actually existing fintech companies, neobanks, traditional financial service companies, they're all thinking about how they integrate crypto. Their customers are asking for it. And even nonfinancial service companies, by the way, want to accept crypto payments or they're integrating crypto into their Web2 companies.
So I actually think, like, in the same way, that most companies use the Internet now, I think most companies are going to end up using crypto in some way, shape, or form in the future. And they don't need to reinvent the wheel. Coinbase has spent a lot of time and energy over the last 10 years building a lot of these core technologies like how to store crypto securely and how to connect into all the blockchain to make sure they're staying in sync, how to do blockchain analytics to make sure it's done in a compliant way and how to trade crypto and stake and mint NFTs and index all of the metadata that's out there. It's almost like another segment of the Internet that needs to be -- needs -- companies need help accessing it.
And so I think for many of these companies, they're not going to want to -- in the same way, they don't want to run their own data center, unless that's their core competency, they're going to use a cloud product. Well, for many of them, crypto is not their core competency, but they do want to integrate crypto into products, so they can use the vendor. And my hope is that -- basically, Coinbase is going through a transition where many of these services that we've had to use internally for our products over the years, we're now in the process of externalizing them through our Coinbase Cloud product and building that in a way that's robust. It actually makes our internal services better to have them cleanly decoupled and architected in a way that any third party can also use them.
The question also asked about growth in education and things like that. So of course, first, we just need to get the product functionality to everyone. I mean that's a good first step. But we started sponsoring hackathons, engaging with the developer community in various countries around the world, there's -- it's pretty exciting to see the amount of interest from developers.
By some indications, the most common elective in computer science programs today is like AI and crypto are the two biggest ones. So I think as more and more crypto companies keep being built and the existing companies integrate it, we're just going to sell picks and shovels during this gold rush.
Anil Gupta -- Vice President, Investor Relations
Great. OK. Well, let's switch gears and take some live questions from our analysts. Operator, can you start up, please?
Questions & Answers:
Operator
Your first question comes from the line of Pete Christiansen from Citi. You're now live.
Pete Christiansen -- Citi -- Analyst
Thank you. Good evening. I was just hoping if you could qualitatively give some color on how funded account retention is looking in cost of acquisition there. Just generally, what trends are you seeing now year to date, and perhaps how they differed from last year? And then finally, I look at your balance sheet, and looks like cash is more than a third of your market cap right now.
And I know there's a lot of reserved firepower there. But is the
scussion to be had. Now the press is talking about it in India. Now there's meetings happening that are going to talk about how we get to the next step. So that's generally our approach with international expansion.
Anil Gupta -- Vice President, Investor Relations
Our next question is about Coinbase Cloud. What update can we provide for shareholders there? Are there other principal hurdles? What are the principal hurdles to growth, education, functionality, or anything else? Brian?
Brian Armstrong -- Co-Founder and Chief Executive Officer
Yeah. So Coinbase Cloud, I'm really excited about. I mean if you just again zoom out, crypto is such a new market. That means there's a lot of start-ups being funded that are coming in to build applications in this space.
And it's not just start-ups. There's actually existing fintech companies, neobanks, traditional financial service companies, they're all thinking about how they integrate crypto. Their customers are asking for it. And even nonfinancial service companies, by the way, want to accept crypto payments or they're integrating crypto into their Web2 companies.
So I actually think, like, in the same way, that most companies use the Internet now, I think most companies are going to end up using crypto in some way, shape, or form in the future. And they don't need to reinvent the wheel. Coinbase has spent a lot of time and energy over the last 10 years building a lot of these core technologies like how to store crypto securely and how to connect into all the blockchain to make sure they're staying in sync, how to do blockchain analytics to make sure it's done in a compliant way and how to trade crypto and stake and mint NFTs and index all of the metadata that's out there. It's almost like another segment of the Internet that needs to be -- needs -- companies need help accessing it.
 And so I think for many of these companies, they're not going to want to -- in the same way, they don't want to run their own data center, unless that's their core competency, they're going to use a cloud product. Well, for many of them, crypto is not their core competency, but they do want to integrate crypto into products, so they can use the vendor. And my hope is that -- basically, Coinbase is going through a transition where many of these services that we've had to use internally for our products over the years, we're now in the process of externalizing them through our Coinbase Cloud product and building that in a way that's robust. It actually makes our internal services better to have them cleanly decoupled and architected in a way that any third party can also use them.
The question also asked about growth in education and things like that. So of course, first, we just need to get the product functionality to everyone. I mean that's a good first step. But we started sponsoring hackathons, engaging with the developer community in various countries around the world, there's -- it's pretty exciting to see the amount of interest from developers.
By some indications, the most common elective in computer science programs today is like AI and crypto are the two biggest ones. So I think as more and more crypto companies keep being built and the existing companies integrate it, we're just going to sell picks and shovels during this gold rush.
Anil Gupta -- Vice President, Investor Relations
Great. OK. Well, let's switch gears and take some live questions from our analysts. Operator, can you start up, please?
Questions & Answers:
Operator
Your first question comes from the line of Pete Christiansen from Citi. You're now live.
Pete Christiansen -- Citi -- Analyst
Thank you. Good evening. I was just hoping if you could qualitatively give some color on how funded account retention is looking in cost of acquisition there. Just generally, what trends are you seeing now year to date, and perhaps how they differed from last year? And then finally, I look at your balance sheet, and looks like cash is more than a third of your market cap right now.
And I know there's a lot of reserved firepower there. But is the