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Fair Value of Financial Assets and Liabilities (Tables)
 9 Months Ended
Sep. 30, 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 September 30, 2024 and December 31, 2023:

 

   Fair Value Measured at September 30, 2024     
   Total at
September 30,		   Quoted prices in
active markets		   Significant other
observable inputs		   Significant
unobservable
inputs		 
   2024   (Level 1)   (Level 2)   (Level 3) 
Assets                
Crypto Assets  $25,747,522   $25,747,522   $-   $- 
Investments   100,000    -    -    100,000 
Total Assets  $25,847,522   $25,747,522   $-   $100,000 
Liabilities                    
Warrant Liabilities  $17,813   $-   $-   $17,813 

 

   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 September 30, 2024 and December 31, 2023, is as follows:

 

   September 30, 2024   December 31, 2023 
Risk-free rate of interest   3.98%   4.23%
Expected volatility   91.05%   108.19%
Expected life (in years)   1.42    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 nine months ended September 30, 2024 and 2023, that are measured at fair value on a recurring basis:

 

   Fair Value of Level 3 Financial Assets 
   September 30,   September 30, 
   2024   2023 
Beginning balance  $100,000    100,000 
Purchases   -    - 
Unrealized appreciation (depreciation)   -    - 
Ending balance  $100,000   $100,000 

 

   Fair Value of Level 3 Financial Liabilities 
   September 30,   September 30, 
   2024   2023 
Beginning balance  $213,750   $213,750 
Fair value adjustment of warrant liabilities   (195,937)   (142,500)
Ending balance  $17,813   $71,250