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Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting
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 $— $25,827 
EXPENSES (INCOME)
Web3 platform expenses12,317 — 12,317 12,603 — 12,603 
Partnership expenses3,663 — 3,663 2,127 — 2,127 
Payment processing expenses— 4,350 4,350 — — — 
General and administrative23,246 21,466 44,712 18,817 — 18,817 
Loss (gain) on digital assets, net6,973 6,981 (52,500)— (52,500)
Loss (gain) on disposed investments— (2,000)— (2,000)
Impairment on other assets— — — — 
Staking and other income(634)(1,956)(2,590)(113)— (113)
Gain on debt extinguishment(20,377)— (20,377)— — — 
Other loss, net12 62 74 15 — 15 
Interest income(1,290)(145)(1,435)(586)— (586)
Interest expense152 109 261 — — — 
(Loss) income before income taxes$(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 $— $— $61,823 
Intersegment revenues(45)45 — — — — 
Revenues43,942 5,033 48,975 61,823 — 61,823 
Eliminations45 (45)— — — — 
TOTAL REVENUES43,987 4,988 48,975 61,823 — 61,823 
EXPENSES (INCOME)
Web3 platform expenses25,159 — 25,159 23,231 — 23,231 
Partnership expenses7,063 — 7,063 6,392 — 6,392 
Payment processing expenses— 4,350 4,350 — — — — 
General and administrative38,704 21,466 60,170 33,135 — — 33,135 
Loss (gain) on digital assets, net43,386 43,394 (23,691)— — (23,691)
Loss (gain) on disposed investments— (2,000)— — (2,000)
Impairment on other assets413 — 413 137 — — 137 
Staking and other (income) loss(744)(1,956)(2,700)23 — — 23 
Gain on debt extinguishment(20,377)— (20,377)— — — 
Other loss, net15 62 77 462 — 462 
Interest income(6,149)(145)(6,294)(1,589)— (1,589)
Interest expense152 109 261 — — — 
(Loss) income before income taxes$(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