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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2021
Fair Value Disclosures [Abstract] |
Summary of Categorization of Assets and Liabilities Measured at Fair Value | The tables below summarize the categorization of the Company’s assets and liabilities measured at fair value. During the three months ended March 31, 2021 and 2020 there were no transfers between Levels 2 and 3.
|  | March 31, 2021 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 502 |  |  | $ | 502 |  |  | $ | — |  |  | $ | — |
Securities owned, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ETFs |  |  | 23,862 |  |  |  | 23,862 |  |  |  | — |  |  |  | — |
Pass-through GSEs |  |  | 8,832 |  |  |  | — |  |  |  | 8,832 |  |  |  | — |
Corporate bonds |  |  | 2,077 |  |  |  | — |  |  |  | 2,077 |  |  |  | — |
Total |  | $ | 35,273 |  |  | $ | 24,364 |  |  | $ | 10,909 |  |  | $ | — |
Non-recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securrency, Inc. – Series A convertible preferred stock (1) |  | $ | 8,349 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,349 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred consideration (Note 9) |  | $ | 227,146 |  |  | $ | — |  |  | $ | — |  |  | $ | 227,146 |
(1) | Fair value determined on March 8, 2021 (Note 7).
|  | December 31, 2020 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 660 |  |  | $ | 660 |  |  | $ | — |  |  | $ | — |
Securities owned, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ETFs |  |  | 24,165 |  |  |  | 24,165 |  |  |  | — |  |  |  | — |
Pass-through GSEs |  |  | 8,613 |  |  |  | — |  |  |  | 8,613 |  |  |  | — |
Corporate bonds |  |  | 2,117 |  |  |  | — |  |  |  | 2,117 |  |  |  | — |
Total |  | $ | 35,555 |  |  | $ | 24,825 |  |  | $ | 10,730 |  |  | $ | — |
Non-recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AdvisorEngine Inc. (“AdvisorEngine”) – Financial interests (1) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Thesys Group, Inc. (“Thesys”) – Series Y Preferred Stock (1) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred consideration (Note 12) |  | $ | 230,137 |  |  | $ | — |  |  | $ | — |  |  | $ | 230,137 |
Non-recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Convertible notes (2) |  | $ | 170,191 |  |  | $ | — |  |  | $ | 170,191 |  |  | $ | — |
(1) | The fair value of the AdvisorEngine financial interests of $9,592 was determined on May 4, 2020, the date in which these financial interests were sold (Note 22). Thesys was written down to zero on September 30, 2020.
(2) | Fair value of $145,847 and $24,344 determined on June 16, 2020 and August 13, 2020, respectively (Note 10).
Summary of Reconciliation of Recurring Fair Value Measurements | The following table presents a reconciliation of beginning and ending balances of recurring fair value measurements classified as Level 3:
|  | Three Months Ended March 31, |
|  | 2021 |  |  | 2020 |
Deferred consideration (Note 9) |  |  |  |  |  |  |  |
Beginning balance |  | $ | 230,137 |  |  | $ | 173,024 |
Net realized losses (1) |  |  | 4,270 |  |  |  | 3,760 |
Net unrealized (gains)/losses (2) |  |  | (2,832 | ) |  |  | 2,208 |
Settlements |  |  | (4,429 | ) |  |  | (3,692 | )
Ending balanc e |  | $ | 227,146 |  |  | $ | 175,300 |
(1) | Recorded as contractual gold payments expense on the Company’s Consolidated Statements of Operations.
(2) | Recorded as gain/(loss) on revaluation of deferred consideration – gold payments on the Company’s Consolidated Statements of Operations.

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=117815213&loc=SL7498348-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 + Details
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