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FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
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Sep. 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):
| September 30, 2023
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Cash equivalents(1) | $ | 3,680,337 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,680,337 |
Customer custodial funds(2) | 2,541,561 |  |  | — |  |  | — |  |  | 2,541,561 |
Crypto assets held(3) | 56,564 |  |  | — |  |  | — |  |  | 56,564 |
Derivative assets(4) | — |  |  | 10,455 |  |  | — |  |  | 10,455 |
Crypto asset loans receivable(5) | — |  |  | 57,517 |  |  | — |  |  | 57,517 |
Safeguarding customer crypto assets | — |  |  | 114,291,909 |  |  | — |  |  | 114,291,909 |
Total assets | $ | 6,278,462 |  |  | $ | 114,359,881 |  |  | $ | — |  |  | $ | 120,638,343 |
Liabilities |  |  |  |  |  |  |
Derivative liabilities(4) | $ | — |  |  | $ | 4,833 |  |  | $ | — |  |  | $ | 4,833 |
Safeguarding customer crypto liabilities | — |  |  | 114,291,909 |  |  | — |  |  | 114,291,909 |
Total liabilities | $ | — |  |  | $ | 114,296,742 |  |  | $ | — |  |  | $ | 114,296,742 |
| December 31, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total
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 |
Safeguarding 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 |
Safeguarding customer crypto liabilities | — |  |  | 75,413,188 |  |  | — |  |  | 75,413,188 |
Total liabilities | $ | — |  |  | $ | 75,432,771 |  |  | $ | 1,855 |  |  | $ | 75,434,626 |
__________________ (1)Represents money market funds. Excludes $1.3 billion of corporate cash held in deposit at banks and $163.5 million held at venues, which were not measured and recorded at fair value as of September 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 $0.9 billion and $3.0 billion held in deposit at financial institutions and not measured and recorded at fair value as of September 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 $399.4 million and $222.8 million held at cost as of September 30, 2023 and December 31, 2022, respectively. (4)See Note 13. Derivatives for additional details. (5)Includes the embedded derivative asset of $9.5 million and $0.3 million and embedded derivative liability of $1.2 million and $6.0 million related to the Company's crypto asset loans receivable as of September 30, 2023 and December 31, 2022, respectively. See Note 13. Derivatives for additional details.

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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