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FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of fair value of assets and liabilities
The following table sets forth by level, within the fair value hierarchy, the Company’s assets and liabilities measured and recorded at fair value on a recurring basis (in thousands):
June 30, 2023
Level 1Level 2Level 3Total
Assets
Cash equivalents(1)
$3,820,235 $— $— $3,820,235 
Customer custodial funds(2)
2,192,012 — — 2,192,012 
Crypto assets held(3)
85,390 — — 85,390 
Derivative assets(4)
— 19,243 — 19,243 
Crypto asset loans receivable(5)
— 37,694 — 37,694 
Customer crypto assets— 124,243,587 — 124,243,587 
Total assets$6,097,637 $124,300,524 $— $130,398,161 
Liabilities
Derivative liabilities(4)
$— $28,285 $— $28,285 
Contingent consideration arrangement— — 1,593 1,593 
Customer crypto liabilities— 124,243,587 — 124,243,587 
Total liabilities$— $124,271,872 $1,593 $124,273,465 
December 31, 2022
Level 1Level 2Level 3Total
Assets
Cash equivalents(1)
$2,250,065 $— $— $2,250,065 
Customer custodial funds(2)
2,088,132 — — 2,088,132 
Crypto assets held(3)
201,565 — — 201,565 
Derivative assets(4)
— 3,838 — 3,838 
Crypto asset loans receivable(5)
— 85,826 — 85,826 
Customer crypto assets— 75,413,188 — 75,413,188 
Total assets$4,539,762 $75,502,852 $— $80,042,614 
Liabilities
Derivative liabilities(4)
$— $19,583 $— $19,583 
Contingent consideration arrangement— — 1,855 1,855 
Customer crypto liabilities— 75,413,188 — 75,413,188 
Total liabilities$— $75,432,771 $1,855 $75,434,626 
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(1)Represents money market funds. Excludes $1.2 billion of corporate cash held in deposit at banks and $180.5 million held at venues, which were not measured and recorded at fair value as of June 30, 2023. Excludes $2.0 billion of corporate cash held in deposit at banks and $143.2 million held at venues, which were not measured and recorded at fair value as of December 31, 2022.
(2)Represents money market funds. Excludes customer custodial funds of $1.7 billion and $3.0 billion held in deposit at financial institutions and not measured and recorded at fair value as of June 30, 2023 and December 31, 2022, respectively.
(3)Includes crypto assets held that have been designated as hedged items in fair value hedges and excludes crypto assets of $400.0 million and $222.8 million held at cost as of June 30, 2023 and December 31, 2022, respectively.
(4)See Note 13. Derivatives for additional details.
(5)Includes the embedded derivative asset of $13.0 million and $0.3 million and embedded derivative liability of $0 and $6.0 million related to the Company's crypto asset loans receivable as of June 30, 2023 and December 31, 2022, respectively. See Note 13. Derivatives for additional details.