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CRYPTO ASSETS HELD FOR INVESTMENT | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
CRYPTO ASSETS HELD FOR INVESTMENT | CRYPTO ASSETS HELD FOR INVESTMENT The following table summarizes the units, cost basis, and fair value of Crypto assets held for investment (in thousands, except units):
| March 31, 2024 |  | December 31, 2023
| Units |  | Cost Basis |  | Fair Value |  | Carrying Value(1)
Bitcoin | 9,183 |  |  | $ | 270,438 |  |  | $ | 654,655 |  |  | $ | 126,614 |
Ethereum | 96,086 |  |  | 190,447 |  |  | 350,267 |  |  | 129,131 |
Other crypto assets(2) | nm |  | 213,922 |  |  | 517,406 |  |  | 74,865 |
Total held for investment |  |  | $ | 674,807 |  |  | $ | 1,522,328 |  |  | $ | 330,610 |
__________________ nm - not meaningful (1)Recorded at impaired cost as of December 31, 2023. (2)Includes various other crypto assets balances, none of which individually represented more than 5% of total Crypto assets held for investment. The following table summarizes the reconciliation of Crypto assets held for investment for the three months ended March 31, 2024 (in thousands):
|  |  |  |  |  |  |  |  | Transfers |  |  |  |  |  |
| January 1, 2024 |  | Cumulative Adjustment(1) |  | Additions(2) |  | Sales |  | From Operating |  | Crypto Loans Originated |  | Crypto Loans Repaid |  | Gains(3) |  | Losses(3) |  | March 31, 2024
Crypto assets held for investment | $ | 330,610 |  |  | $ | 717,373 |  |  | $ | 3,530 |  |  | $ | (59,726) |  |  | $ | 1,972 |  |  | $ | (123,081) |  |  | $ | 1,221 |  |  | $ | 655,688 |  |  | $ | (5,259) |  |  | $ | 1,522,328 |
__________________ (1)Fair value adjustment on Crypto assets held for investment upon the Company’s adoption of ASU 2023-08. (2)Additions represent purchases of and staking rewards earned on Crypto assets held for investment. (3)Includes $17.0 million of cumulative realized gains from sales that occurred during the period and no cumulative realized losses. The Company has $264.3 million of assets subject to selling restrictions recorded in Crypto assets held for investment. The selling restrictions are time-based and lift between 2024 and 2029. Restrictions do not consist of any other obligations.

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- References No definition available. + Details
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