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EQUITY SECURITIES (Tables) | 9 Months Ended
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Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract] |
Equity Securities | Equity securities consist of the following (in thousands):
| September 30, 2023 |  | December 31, 2022
Equity securities accounted for under the equity method under ASC 323 | $ | 128,235 |  |  | $ | 213,494 |
Equity securities accounted for under the equity method under the fair value option | 41,076 |  |  | 82,787 |
Equity securities under ASC 321 | 15 |  |  | 36 |
Total equity securities | $ | 169,326 |  |  | $ | 296,317 |
Equity Securities Ownership Interest | The following table includes our equity securities accounted for under the equity method and related ownership interest as of September 30, 2023:
| Ownership interest
Medici Ventures, L.P. | 99%
tZERO Group, Inc. | 28%
SpeedRoute, LLC | 49%
Equity Method Investments | The following table summarizes the net loss recognized on equity method securities recorded in Other expense, net in our consolidated statements of operations (in thousands):
| Three months ended September 30, |  | Nine months ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net loss recognized on our proportionate share of the net assets of our equity method securities | $ | (41,837) |  |  | $ | (17,231) |  |  | $ | (85,255) |  |  | $ | (20,979) |
Increase (decrease) in fair value of equity method securities held under fair value option | 2,691 |  |  | (29,413) |  |  | (41,711) |  |  | (28,248) |
Equity Method Investments, Summarized Financial Information | The following is the unaudited summarized financial information for those equity method securities that met the significance criteria for the period ended September 30, 2023, presented on a quarterly lag, (in thousands):
|  |  | Nine months ended September 30,
|  |  |  |  | 2023 |  | 2022
Results of Operations |  |  |  |  |  |  |
Revenues |  |  |  |  | $ | 1,373 |  |  | $ | 2,070 |
Pre-tax loss |  |  |  |  | (15,681) |  |  | (23,151) |
Net loss |  |  |  |  | (15,882) |  |  | (22,913) |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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