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Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Prior to the Acquired Entities, the Company operated and reported as a single operating segment and single reportable segment. Accordingly, all prior-period financial information was reported on a consolidated basis within a single segment structure. As a result of the Acquisition, the Company has two reportable segments: Web3 Services and Payment Processing. Web3 Services provides digital asset services through the Exodus platform, including exchange aggregation, fiat onboarding and offboarding, staking, and other Web3-related services. Payment Processing provides payment processing, card issuance, and payment infrastructure solutions to traditional commerce and crypto-native customers.

The Company's Chief Executive Officer serves as the Chief Operating Decision Maker ("CODM"). The CODM assesses the operating performance of each reportable segment and allocates resources based on the segment statements of operations for each reportable segment, which are presented using the same line items as the condensed consolidated statements of operations. Segment net (loss) income is the measure of segment profit or loss used by the CODM to evaluate
performance and allocate resources. The CODM is not provided with and does not regularly review segment asset information when evaluating segment performance or allocating resources.

The following tables present the segment statements of operations for the Company's reportable segments:
Three Months Ended June 30, 2026Three Months Ended June 30, 2025
(Unaudited, in thousands)
Web 3 ServicesPayment Processing ServicesTotalWeb 3 ServicesPayment Processing ServicesTotal
External revenues$21,240 $4,988 $26,228 $25,827 $— $25,827 
Intersegment revenues(45)45 — — — — 
Revenues21,195 5,033 26,228 25,827 — 25,827 
Eliminations45 (45)— — — — 
TOTAL REVENUES$21,240 $4,988 $26,228 $25,827 $— $25,827 
EXPENSES (INCOME)
Web3 platform expenses12,317 — 12,317 12,603 — 12,603 
Partnership expenses3,663 — 3,663 2,127 — 2,127 
Payment processing expenses— 4,350 4,350 — — — 
General and administrative23,246 21,466 44,712 18,817 — 18,817 
Loss (gain) on digital assets, net6,973 8 6,981 (52,500)— (52,500)
Loss (gain) on disposed investments2 — 2 (2,000)— (2,000)
Impairment on other assets2 — 2 — — — 
Staking and other income(634)(1,956)(2,590)(113)— (113)
Gain on debt extinguishment(20,377)— (20,377)— — — 
Other loss, net12 62 74 15 — 15 
Interest income(1,290)(145)(1,435)(586)— (586)
Interest expense152 109 261 — — — 
(Loss) income before income taxes$(2,826)$(18,906)$(21,732)$47,464 $— $47,464 
INCOME TAX (EXPENSE) BENEFIT (618)3,738 3,120 (9,797)— (9,797)
NET (LOSS) INCOME$(3,444)$(15,168)$(18,612)$37,667 $— $37,667 
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
(Unaudited, in thousands)
Web3 ServicesPayment Processing ServicesTotalWeb3 ServicesPayment Processing ServicesTotal
External revenues$43,987 $4,988 $48,975 $61,823 $— $— $61,823 
Intersegment revenues(45)45 — — — — 
Revenues43,942 5,033 48,975 61,823 — 61,823 
Eliminations45 (45)— — — — 
TOTAL REVENUES43,987 4,988 48,975 61,823 — 61,823 
EXPENSES (INCOME)
Web3 platform expenses25,159 — 25,159 23,231 — 23,231 
Partnership expenses7,063 — 7,063 6,392 — 6,392 
Payment processing expenses— 4,350 4,350 — — — — 
General and administrative38,704 21,466 60,170 33,135 — — 33,135 
Loss (gain) on digital assets, net43,386 8 43,394 (23,691)— — (23,691)
Loss (gain) on disposed investments2 — 2 (2,000)— — (2,000)
Impairment on other assets413 — 413 137 — — 137 
Staking and other (income) loss(744)(1,956)(2,700)23 — — 23 
Gain on debt extinguishment(20,377)— (20,377)— — — 
Other loss, net15 62 77 462 — 462 
Interest income(6,149)(145)(6,294)(1,589)— (1,589)
Interest expense152 109 261 — — — 
(Loss) income before income taxes$(43,637)$(18,906)$(62,543)$25,723 $— $25,723 
INCOME TAX BENEFIT (EXPENSE)8,054 3,738 11,792 (929)— (929)
NET (LOSS) INCOME$(35,583)$(15,168)$(50,751)$24,794 $— $24,794