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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2022
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, 2022 and 2021 there were no transfers between Levels 2 and 3.
|  | March 31, 2022 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 449 |  |  | $ | 449 |  |  | $ | — |  |  | $ | — |
Securities owned, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ETFs |  |  | 16,035 |  |  |  | 16,035 |  |  |  | — |  |  |  | — |
Pass-through GSEs |  |  | 115,858 |  |  |  | 24,503 |  |  |  | 91,355 |  |  |  | — |
Corporate bonds |  |  | 1,953 |  |  |  | — |  |  |  | 1,953 |  |  |  | — |
Investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fnality International Limited – convertible note (Note 7) |  |  | 6,700 |  |  |  | — |  |  |  | — |  |  |  | 6,700 |
Total |  | $ | 140,995 |  |  | $ | 40,987 |  |  | $ | 93,308 |  |  | $ | 6,700 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred consideration (Note 9) |  | $ | 245,177 |  |  | $ | — |  |  | $ | — |  |  | $ | 245,177 |
|  | December 31, 2021 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 11,488 |  |  | $ | 11,488 |  |  | $ | — |  |  | $ | — |
Securities owned, at fair value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ETFs |  |  | 18,812 |  |  |  | 18,812 |  |  |  | — |  |  |  | — |
Pass-through GSEs |  |  | 106,245 |  |  |  | 24,720 |  |  |  | 81,525 |  |  |  | — |
Corporate bonds |  |  | 2,109 |  |  |  | — |  |  |  | 2,109 |  |  |  | — |
Total |  | $ | 138,654 |  |  | $ | 55,020 |  |  | $ | 83,634 |  |  | $ | — |
Non-recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securrency, Inc. – Series A convertible preferred stock (1) |  |  | 8,488 |  |  |  | — |  |  |  | — |  |  |  | 8,488 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred consideration (Note 9) |  | $ | 228,062 |  |  | $ | — |  |  | $ | — |  |  | $ | 228,062 |
| (1) | Fair value of $8,488 and $8,349 determined on June 9, 2021 and March 8, 2021, respectively (Note 7).
Summary of Reconciliation of Recurring Fair Value Measurements | Fair Value Measurements classified as Level 3 – The following tables presents a reconciliation of beginning and ending balances of recurring fair value measurements classified as Level 3:
|  | Three Months Ended March 31, |
|  | 2022 |  |  | 2021 |
Fnality International Limited – Convertible note (Note 7) |  |  |  |  |  |  |  |
Beginning balance |  | $ | — |  |  | $ | — |
Purchases |  |  | 6,863 |  |  |  | — |
Net unrealized gains/(losses) (1) |  |  | (163 | ) |  |  | — |
Ending balance |  | $ | 6,700 |  |  | $ | — |
| (1) | Recorded in other losses, net in the Consolidated Statements of Operations.
|  | Three Months Ended March 31, |
|  | 2022 |  |  | 2021 |
Deferred consideration (Note 9) |  |  |  |  |  |  |  |
Beginning balance |  | $ | 228,062 |  |  | $ | 230,137 |
Net realized losses (1) |  |  | 4,450 |  |  |  | 4,270 |
Net unrealized losses/(gains) (2) |  |  | 17,018 |  |  |  | (2,832 | )
Settlements |  |  | (4,353 | ) |  |  | (4,429 | )
Ending balance |  | $ | 245,177 |  |  | $ | 227,146 |
| (1) | Recorded as contractual gold payments expense in the Consolidated Statements of Operations.
| (2) | Recorded as (loss)/gain on revaluation of deferred consideration – gold payments in the 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=123874694&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=123874694&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=123874694&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=123874694&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=123874694&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=123874694&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=123874694&loc=d3e19279-110258 + Details
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