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Prepaid Expenses and Other Assets (Tables) | 9 Months Ended
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Sep. 30, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Schedule of Prepaid Expenses and Other Assets | Prepaid expenses and other assets consisted of the following (in thousands):
| September 30, 2025 |  | December 31, 2024
Prepaid expenses and other current assets |  |  |
Crypto asset collateral held | $ | — |  |  | $ | 15,275 |
Prepaid expenses | 8,923 |  |  | 7,232 |
Equity securities | 1,382 |  |  | 219 |
Derivative assets | 684 |  |  | 6,354 |
Other | 15,892 |  |  | 8,054 |
Total prepaid expenses and other current assets | $ | 26,881 |  |  | $ | 37,134 |
Other non-current assets |  |  |
Lease right-of-use assets | $ | 16,419 |  |  | $ | 14,512 |
Strategic investments | 9,568 |  |  | 10,638 |
Warrant derivative(1) | 1,659 |  |  | — |
Warrant receivable(2) | 6,493 |  |  | — |
Other | 1,735 |  |  | 1,722 |
Total other non-current assets | $ | 35,874 |  |  | $ | 26,872 |
__________________ |  |  |
(1) Warrant derivative represents the vested warrants received in connection with an advisory agreement. The vested warrants meet the definition of a derivative under ASC 815, Derivatives and Hedging, and are subject to fair value adjustments. Refer to Note 5. Fair Value Measurements.
(2) The warrant receivable represents a contract asset initially measured at fair value of $10.8 million. As of September 30, 2025, $4.3 million had vested, resulting in a remaining contract asset of $6.5 million.
Schedule of Carrying Value of Strategic Investments Accounted for under the Measurement Alternative | The changes in the carrying value of strategic investments accounted for under the measurement alternative are presented below (in thousands):
| Nine Months Ended September 30,
| 2025 |  | 2024
Carrying amount, beginning balance | $ | 10,638 |  |  | $ | 11,708 |
Net reductions(1) | (1,131) |  |  | (580) |
Upward adjustments | 61 |  |  | 73 |
Impairments and downward adjustments | — |  |  | (122) |
Carrying amount, ending balance | $ | 9,568 |  |  | $ | 11,079 |
__________________ |  |  |
(1) Includes additions from purchases, reductions due to exits of securities and reclassifications due to changes to capital structure.

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- Definition Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs. + References No definition available. + Details
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- Definition Tabular disclosure of investment in equity security without readily determinable fair value. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 321 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479536/321-10-50-3 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 321 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479536/321-10-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 321 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479536/321-10-50-3 + Details
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