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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 21,211 $ 4,938
Restricted cash 333,868 0
Stablecoins 2,887 222
Restricted stablecoins 3,847 0
Accounts receivable 9,391 5,141
Prepaid expenses 10,090 2,996
Income tax receivables 2,957 3,401
Loans receivable, net 0 80,584
Other current assets 12,252 1,995
Total current assets 396,503 99,277
OTHER ASSETS    
Fixed assets, net 447 458
Digital assets 37,315 156,447
Software assets, net 4,839 4,565
Goodwill 98,750 0
Definite and indefinite-lived intangible assets, net 52,091 4,928
Deferred tax assets 5,656 13
Other long-term assets 1,101 1,074
Total other assets 200,199 167,485
TOTAL ASSETS 596,702 266,762
CURRENT LIABILITIES    
Accounts payable 7,275 1,176
Customer deposit liabilities 331,523 0
Payroll liabilities 9,563 3,975
Income tax payable 0 0
Accrued liabilities 26,638 2,210
Total current liabilities 374,999 7,361
LONG-TERM LIABILITIES    
Deferred tax liability 5,320 11,991
Other long-term liabilities 15,419 0
Total long-term liabilities 20,739 11,991
Total liabilities 395,738 19,352
COMMITMENTS AND CONTINGENCIES (NOTE 12)
STOCKHOLDERS' EQUITY    
Preferred stock $0.000001 par value, 5,000,000 shares authorized, no shares issued and outstanding 0 0
ADDITIONAL PAID IN CAPITAL 133,499 126,995
ACCUMULATED OTHER COMPREHENSIVE LOSS (4,323) (2,124)
RETAINED EARNINGS 71,788 122,539
Total stockholders' equity 200,964 247,410
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 596,702 266,762
Class A Shares    
STOCKHOLDERS' EQUITY    
Common stock value 0 0
Class B Shares    
STOCKHOLDERS' EQUITY    
Common stock value $ 0 $ 0