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ACCOUNTS AND LOANS RECEIVABLE, NET OF ALLOWANCE | 9 Months Ended
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Sep. 30, 2022
Receivables [Abstract] |
ACCOUNTS AND LOANS RECEIVABLE, NET OF ALLOWANCE | ACCOUNTS AND LOANS RECEIVABLE, NET OF ALLOWANCE Accounts and loans receivable, net of allowance consisted of the following (in thousands):
| September 30, |  | December 31,
| 2022 |  | 2021
In-transit customer receivables | $ | 42,552 |  |  | $ | 102,720 |
Trade finance receivables | 7,512 |  |  | 1,865 |
Custodial fee revenue receivable | 11,477 |  |  | 23,727 |
Loans receivable(1) | 116,601 |  |  | 218,461 |
Interest and other receivables(2) | 79,164 |  |  | 73,803 |
Allowance for doubtful accounts(3) | (16,952) |  |  | (24,551) |
Total accounts and loans receivable, net of allowance | $ | 240,354 |  |  | $ | 396,025 |
__________________ (1)The fair value of collateral held as security exceeded the outstanding loans receivable as of September 30, 2022 and December 31, 2021, so no allowance was recorded. (2)Includes accounts receivables denominated in crypto assets of $11.0 million and $26.4 million as of September 30, 2022 and December 31, 2021, respectively. See Note 12. Derivatives for additional details. (3)Includes provision for transaction losses of $4.2 million and $16.8 million as of September 30, 2022 and December 31, 2021, respectively. Loans receivable The Company issues loans to retail users and institutions. As of September 30, 2022 and December 31, 2021, the Company had issued loans with an outstanding balance of $116.6 million and $218.5 million, respectively. The related interest receivable on the loans as of September 30, 2022 and December 31, 2021, was $0.8 million and $1.3 million, respectively. The amounts loaned are collateralized with the crypto assets held by the borrower in their crypto asset wallet on the Company’s platform. The Company does not have the right to use such collateral unless the borrower defaults on the loans. The Company’s credit exposure is significantly limited and no allowance was recorded against these loans receivable. Loans receivable are measured at amortized cost. The carrying value of the loans approximates their fair value. As of September 30, 2022 and December 31, 2021, there were no loans receivable past due.
ACCOUNTS AND LOANS RECEIVABLE, NET OF ALLOWANCE | ACCOUNTS AND LOANS RECEIVABLE, NET OF ALLOWANCE Accounts and loans receivable, net of allowance consisted of the following (in thousands):
| September 30, |  | December 31,
| 2022 |  | 2021
In-transit customer receivables | $ | 42,552 |  |  | $ | 102,720 |
Trade finance receivables | 7,512 |  |  | 1,865 |
Custodial fee revenue receivable | 11,477 |  |  | 23,727 |
Loans receivable(1) | 116,601 |  |  | 218,461 |
Interest and other receivables(2) | 79,164 |  |  | 73,803 |
Allowance for doubtful accounts(3) | (16,952) |  |  | (24,551) |
Total accounts and loans receivable, net of allowance | $ | 240,354 |  |  | $ | 396,025 |
__________________ (1)The fair value of collateral held as security exceeded the outstanding loans receivable as of September 30, 2022 and December 31, 2021, so no allowance was recorded. (2)Includes accounts receivables denominated in crypto assets of $11.0 million and $26.4 million as of September 30, 2022 and December 31, 2021, respectively. See Note 12. Derivatives for additional details. (3)Includes provision for transaction losses of $4.2 million and $16.8 million as of September 30, 2022 and December 31, 2021, respectively. Loans receivable The Company issues loans to retail users and institutions. As of September 30, 2022 and December 31, 2021, the Company had issued loans with an outstanding balance of $116.6 million and $218.5 million, respectively. The related interest receivable on the loans as of September 30, 2022 and December 31, 2021, was $0.8 million and $1.3 million, respectively. The amounts loaned are collateralized with the crypto assets held by the borrower in their crypto asset wallet on the Company’s platform. The Company does not have the right to use such collateral unless the borrower defaults on the loans. The Company’s credit exposure is significantly limited and no allowance was recorded against these loans receivable. Loans receivable are measured at amortized cost. The carrying value of the loans approximates their fair value. As of September 30, 2022 and December 31, 2021, there were no loans receivable past due.

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- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI https://asc.fasb.org/subtopic&trid=2196772 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2196816 + Details
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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI https://asc.fasb.org/subtopic&trid=2196772 + Details
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