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EQUITY SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Equity securities
Equity securities consist of the following (in thousands):
December 31,
20222021
Equity securities accounted for under the equity method under ASC 323$213,494 $240,153 
Equity securities accounted for under the equity method under the fair value option82,787 102,355 
Equity securities under ASC 32136 174 
Total equity securities$296,317 $342,682 
Equity Security Ownership Interest
The following table includes our equity securities accounted for under the equity method (ASC 323) and related ownership interest as of December 31, 2022:
Ownership
interest
Medici Ventures, L.P.99%
tZERO Group, Inc.29%
SpeedRoute, LLC49%
Equity method investments
The following table summarizes the net gain (loss) recognized on equity method securities recorded in Other income (expense), net in our consolidated statements of operations (in thousands):
Years ended December 31,
20222021
Net gain (loss) recognized on our proportionate share of the net assets of our equity method securities$(25,435)$9,953 
Increase (decrease) in fair value of equity method securities held under fair value option(38,488)2,632 
Equity Method Investments, Summarized Financial Information The table below provides the summarized financial information required by Rule 4-08(g) for those equity method securities in aggregate that have met the significance criteria (in thousands):
December 31,
Balance Sheet (1)20222021
Assets$122,015 $76,192 
Liabilities(25,055)(21,683)
Equity$(96,960)$(54,509)
Years ended December 31,
Results of Operations (1)202220212020
Revenues$31,187 $20,800 $4,788 
Pre-tax loss(37,619)(24,528)(36,533)
Net loss(37,477)(24,590)(36,625)
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(1) The balance sheet and results of operations in the summarized financial information above excludes the financial information for the periods subsequent to the date an equity method investee ceased being accounted for under the equity method and only includes the financial information for the periods subsequent to the date an investee became an equity method investment and was accounted for under the equity method.