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OTHER INVESTMENTS (Tables) | 9 Months Ended
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Sep. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Other Investments | At September 30, 2025, the breakdown of the Company’s other investments was as follows:
|  | Cost |  | Unrealized gains |  | Unrealized losses |  | Accrued interest |  | Fair value / carrying value
Private investments and unlisted equities |  | $ | 28,962 |  |  | $ | 38,261 |  |  | $ | (5,705) |  |  | $ | — |  |  | $ | 61,518 |
Debt and convertible debt securities |  | 1,585 |  |  | — |  |  | — |  |  | 79 |  |  | 1,664 |
Total other investments |  | $ | 30,547 |  |  | $ | 38,261 |  |  | $ | (5,705) |  |  | $ | 79 |  |  | $ | 63,182 |
At December 31, 2024, the breakdown of the Company’s other investments was as follows:
|  | Cost |  | Unrealized gains |  | Unrealized losses |  | Accrued interest |  | Fair value / carrying value
Private investments and unlisted equities |  | $ | 28,111 |  |  | $ | 51,076 |  |  | $ | (7,320) |  |  | $ | — |  |  | $ | 71,867 |
Debt and convertible debt securities |  | 2,713 |  |  | — |  |  | (1,510) |  |  | 90 |  |  | 1,293 |
Total other investments |  | $ | 30,824 |  |  | $ | 51,076 |  |  | $ | (8,830) |  |  | $ | 90 |  |  | $ | 73,160 |
Schedule of Carrying Values of Private Investments and Unlisted Equity Securities Carried under Measurement Alternative | The Company recognized the following adjustments to the carrying values of the private investments and unlisted equity securities, resulting from observable price changes in orderly transactions and impairments:
|  | Three months ended September 30 |  | Nine months ended September 30
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Upward adjustments (1) |  | $ | 3,870 |  |  | $ | — |  |  | $ | 5,618 |  |  | $ | 501 |
Downward adjustments(2) |  | $ | — |  |  | $ | — |  |  | $ | (148) |  |  | $ | — |
Impairments |  | $ | (16,400) |  |  | $ | — |  |  | $ | (17,859) |  |  | — |
(1) Based on observable price changes, the cumulative upward carrying value changes from inception to September 30, 2025, totaled $38.3 million. (2) Based on observable price changes, the cumulative downward carrying value changes from inception to September 30, 2025, totaled $2.5 million.
Schedule of Gain (Loss) on Securities | Net investment income The following table summarizes the change in unrealized gains (losses) and the realized gains (losses) for the Company’s other investments, which are included in “Net investment income (loss)” in the condensed consolidated statements of operations (see Note 13):
|  | Three months ended September 30 |  | Nine months ended September 30
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Gross realized gains |  | $ | 653 |  |  | $ | — |  |  | $ | 658 |  |  | $ | — |
Gross realized losses |  | — |  |  | — |  |  | — |  |  | (1,332) |
Net realized gains (losses) |  | $ | 653 |  |  | $ | — |  |  | $ | 658 |  |  | $ | (1,332) |
Change in unrealized gains |  | (12,530) |  |  | — |  |  | (12,389) |  |  | 1,008 |
Net realized and unrealized gains (losses) on other investments |  | $ | (11,877) |  |  | $ | — |  |  | $ | (11,731) |  |  | $ | (324) |

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