XML 54 R43.htm IDEA: XBRL DOCUMENT v3.24.1.u1

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2024

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):

			March 31, 2024												December 31, 2023
			Level 1						Level 2												Level 1						Level 2
Assets
Cash equivalents(1)			$	3,037,792					$	—											$	3,682,917					$	—
Customer custodial funds(2)			4,894,429						—												3,301,029						—
Crypto asset loan receivables			—						196,141												—						22,229
Crypto assets borrowed(3)			231,348						—												45,212						—
Safeguarding customer crypto assets			—						329,506,477												—						192,583,060
Derivative assets(4)			—						44,214												—						30,577
Crypto assets held for operations			150,630						—												74,103						—
Crypto assets held as collateral			106,610						—												—						—
Crypto assets held for investment			1,522,328						—												330,610						—
Total assets			$	9,943,137					$	329,746,832											$	7,433,871					$	192,635,866
Liabilities
Safeguarding customer crypto liabilities			$	—					$	329,506,477											$	—					$	192,583,060
Derivative liabilities(4)			—						150,104												—						21,913
Obligation to return collateral			106,610						—												—						—
Total liabilities			$	106,610					$	329,656,581											$	—					$	192,604,973

__________________

(1)Represents money market funds. Excludes $3.5 billion of corporate cash held in deposit at banks and $124.8 million held at venues, which were not measured and recorded at fair value as of March 31, 2024. Excludes $1.4 billion of corporate cash held in deposit at banks and $88.8 million held at venues, which were not measured and recorded at fair value as of December 31, 2023.

(2)Represents money market funds. Excludes customer custodial funds of $307.5 million and $1.3 billion held in deposit at financial institutions and not measured and recorded at fair value as of March 31, 2024 and December 31, 2023, respectively.

(3)Includes crypto assets held that were designated as hedged items in fair value hedges as of December 31, 2023 and excludes crypto assets of $404.7 million held at cost as of December 31, 2023.

(4)See Note 13. Derivatives for additional details.

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration