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RELATED PARTY TRANSACTIONS (FY) (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2023
Dec. 31, 2022
RELATED PARTY TRANSACTIONS    
Summary of compensation for key management and Board of Directors
 
Periods ended June 30,
In thousands of USD
2022
2023
Salaries and other emoluments
6,723
4,263
Total
6,723
4,263
 
Years ended December 31,
In thousands of USD
2020
2021
2022
Salaries and other emoluments
10,175
11,627
11,969
Total
10,175
11,627
11,969
Summary of reconciliation of deemed contributions from / (distributions to) related parties to the corresponding amounts presented in the combined statement of cash flows  
 
Years ended December 31,
In thousands of USD
2020
2021
2022
Deemed distribution to related parties per consolidated statements of changes in invested capital and equity
(157,557)
(29,311)
Corporate allocations
(1,709)
(2,167)
Net effect of attribution of the assets and liabilities from Bitmain’s business transferred to the Group during the Reorganization
(235,506)
20,535
Total deemed distribution to related parties per consolidated statements of cash flows
(394,772)
(10,943)
Summary of balances and transactions with related parties  
 
Years ended December 31,
In thousands of USD
2020
2021
2022
Revenue from Bitmain and BTC(1)
88,054
73,522

(1)
Revenue from Bitmain and BTC arise from the Group’s normal course of business, See Note 2.
Summary of other related party balances and transactions
Name of related party
Relationship with the Group
Matrix Finance and Technologies Holding Group and its subsidiaries (“Matrixport Group”)
The Group’s controlling person is the co-founder and chairman of the board of directors of Matrixport Group and has significant influence over Matrixport Group.

Details of assets, liabilities and transactions with the related party are as follows:

In thousands of USD
At December 31,
2022
At June 30,
2023
Due from a related party
 
 
- Trade receivables
75
- Loans to a related party(1)
322
308
Total due from a related party
397
308
Due to a related party
 
 
- Other payables(2)
316
127
Total due to a related party
316
127

 
Periods ended June 30,
In thousands of USD
2022
2023
- Provide service to a related party
1,377
330
- Receive service from a related party
82
154
- Interest earned from a related party
355
- Return of wealth management product from a related party
283
- Changes in fair value of financial assets at fair value through profit or loss
2,238

(1)
Loans to a related party represent unsecured, interest-free loans made to the related party. These loans are due on demand.
(2)
Other payables represent the accrued service expense related to the custody and other services provided by the related party.
Name of related parties
Relationship with the Group
Matrix Finance and Technologies Holding Group and its subsidiaries (“Matrixport Group”)
The Group’s controlling person is the co-founder and chairman of the board of directors of Matrixport Group and has significant influence over Matrixport Group.

Details of due from related party are as follows:

 
At December 31,
In thousands of USD
2021
2022
Due from related party
 
 
- Trade receivables
413
75
- Loans to a related party(1)
1,087
322
Total due from related party
1,500
397
 
 
 
Due to related party
 
 
- Other payables(2)
19
316
Total due to related party
19
316

(1)
Loans to a related party represent unsecured, interest-free loans made to the related party. These loans are due on demand.
(2)
Other payables represent the accrued service expense related to the custody and other services provided by the related party.
Details of transactions with the related party are as follows:
 
Years ended December 31,
In thousands of USD
2020
2021
2022
- Provide service to a related party
530
3,076
- Receive service from a related party
294
425
- Interest earned from a related party
1,552
1,499
- Return of wealth management products from a related party
737
283
- Changes in fair value of financial assets at fair value through profit or loss
(952)