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Fair Value of Financial Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Assets and Liabilities Valued on Recurring Basis

The following tables present the Company’s assets and liabilities that are measured at fair value on a recurring basis and the Company’s estimated level within the fair value hierarchy of those assets and liabilities as of March 31, 2024 and December 31, 2023:

 

   Fair Value Measured at March 31, 2024 
   Total at March 31,   Quoted prices in active markets   Significant other observable inputs   Significant unobservable inputs 
   2024   (Level 1)   (Level 2)   (Level 3) 
Assets                    
Crypto Assets  $38,720,775   $38,720,775   $-   $- 
Investments   100,000    -           -    100,000 
Total Assets  $38,820,775   $38,720,775   $-   $100,000 
Liabilities                    
Warrant Liabilities  $213,750   $-   $-   $213,750 

 

   Fair Value Measured at December 31, 2023 
   Total at December 31,   Quoted prices in active markets   Significant other observable inputs   Significant unobservable inputs 
   2023   (Level 1)   (Level 2)   (Level 3) 
Assets                    
Crypto Assets  $25,202,929   $25,202,929   $      -   $- 
Investments   100,000    -    -    100,000 
Total Assets  $25,302,929   $25,202,929   $-   $100,000 
Liabilities                    
Warrant Liabilities  $213,750   $-   $-   $213,750 
Summary of Valuation Methodology and Significant Unobservable Inputs Warrant Liabilities

A summary of quantitative information with respect to the valuation methodology and significant unobservable inputs used for the Company’s warrant liabilities that are categorized within Level 3 of the fair value hierarchy at the date of issuance and, as of March 31, 2024 and December 31, 2023, is as follows:

 

   March 31, 2024   December 31, 2023 
Risk-free rate of interest   4.59%   4.23%
Expected volatility   106.56%   102.81%
Expected life (in years)   1.93    2.18 
Expected dividend yield   -    - 
Schedule of Changes in Fair Value and Other Adjustments of Warrants

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial assets and liabilities for the Three Months ended March 31, 2024 and 2023, that are measured at fair value on a recurring basis:

 

   Fair Value of Level 3 Financial Assets 
   March 31, 2024   March 31, 2023 
Beginning balance  $100,000    100,000 
Purchases   -    - 
Unrealized appreciation (depreciation)   -    - 
Ending balance  $100,000   $100,000 

 

   Fair Value of Level 3 Financial Liabilities 
   March 31, 2024   March 31, 2023 
Beginning balance  $213,750   $213,750 
Warrant liabilities classification   -    - 
Fair value adjustment of warrant liabilities   -    285,000 
Ending balance  $213,750   $498,750