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Unaudited Condensed Consolidated Statements of Financial Position - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 476,682,552 $ 270,728,008
Cash and cash equivalents segregated under federal and foreign requirements 1,190,513,861 939,232,153
Receivables from brokers, dealers, and clearing organizations 307,518,448 262,093,040
Receivables from customers, net 306,401,011 301,107,428
Prepaid expenses and other current assets 82,585,247 50,344,836
Customer-held fractional shares 127,456,614 108,252,531
Total current assets 2,491,157,733 1,931,757,996
Right-of-use assets 64,192,028 66,293,751
Property and equipment, net 32,894,047 33,629,770
Intangible assets, net 20,477,208 19,415,963
Goodwill 5,197,438 5,197,438
Deferred tax assets 9,727,864 12,374,499
Other non-current assets 1,000,000
Total non-current assets 133,488,585 136,911,421
Total assets 2,624,646,318 2,068,669,417
Liabilities, mezzanine equity, and shareholders' equity (deficit)    
Payables due to customers 1,693,545,054 1,378,625,130
Payables due to brokers, dealers, and clearing organizations 3,877,449 1,490,537
Lease liabilities - current portion 3,375,029 4,969,959
Accounts payable and other accrued expenses 55,998,312 61,079,799
Total current liabilities 1,756,795,844 1,446,165,425
Lease liabilities - non-current portion 9,618,423 10,438,555
Unsecured promissory notes 100,000,000
Deferred tax liabilities 5,676,865 5,292,255
Total non-current liabilities 115,295,288 15,730,810
Total liabilities 1,872,091,132 1,461,896,235
Commitments and Contingencies (Note 15)
Mezzanine equity    
Total mezzanine equity 2,861,748,733
Shareholders' equity (deficit)    
Treasury shares (527,147 and 4,224,356 shares as of June 30, 2025 and December 31, 2024, respectively)
Additional paid in capital 2,987,559,282
Accumulated deficit (2,231,782,461) (2,241,054,086)
Accumulated other comprehensive loss (4,226,213) (15,195,946)
Total shareholders' equity (deficit) 751,555,450 (2,256,248,639)
Noncontrolling interest 999,736 1,273,088
Total equity (deficit) 752,555,186 (2,254,975,551)
Total liabilities, mezzanine equity, and total equity (deficit) 2,624,646,318 2,068,669,417
Convertible Redeemable Preferred Shares    
Mezzanine equity    
Total mezzanine equity 2,861,748,733
Class A Ordinary Shares    
Shareholders' equity (deficit)    
Ordinary shares, value 4,012 1,393
Class B Ordinary Shares    
Shareholders' equity (deficit)    
Ordinary shares, value $ 830