XML 49 R33.htm IDEA: XBRL DOCUMENT v3.26.1

Digital Assets (Tables)

12 Months Ended

Dec. 31, 2025

Other Intangible Assets

Schedule of digital asset reconciliation

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Digital

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HYPE Digital

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KNTQ Digital

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Digital Asset

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Intangible

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Assets

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Assets

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Receivable

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Assets

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Total

Balance, December 31, 2024

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$

—

​

$

—

​

$

—

​

$

—

​

$

—

Proceeds from sale of covered call option, net of repurchase proceeds

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—

​

—

​

—

​

—

​

—

Purchases

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71,819,039

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—

​

—

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135,000

​

71,954,039

Deposits of HYPE into liquid staking activities

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(58,753,773)

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—

​

—

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58,753,773

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—

Receipts of HYPE from liquid staking activities

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15,866,574

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—

​

—

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(15,866,574)

​

—

Receipt and accrual of HYPE from native staking activities

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554,099

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—

​

—

​

—

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554,099

Commission paid to co-validators

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(26,160)

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—

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—

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—

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(26,160)

Purchase of digital asset receivable for HYPE

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(9,922,239)

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—

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9,922,239

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—

​

—

Unamortized nonrefundable upfront fee

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—

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—

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(307,278)

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—

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(307,278)

Unrealized loss

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(6,581,870)

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(174,044)

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(2,274,499)

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—

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(9,030,413)

Realized gain

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3,278,271

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285,450

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—

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4,758,124

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8,321,845

Impairment

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—

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—

​

—

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(27,188,768)

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(27,188,768)

Provision for credit loss

​

—

​

—

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(405,331)

​

—

​

(405,331)

Balance, December 31, 2025

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$

16,233,941

​

$

111,406

​

$

6,935,131

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$

20,591,555

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$

43,872,033

(1) There were no realized credit losses in the year ended December 31, 2025.

Schedule of digital assets

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​	​	​	​	​	​	​	​	​
​	​ ​ ​	Units	​ ​ ​	Cost Basis		​ ​ ​	Fair Value
HYPE digital assets		638,352	​	$	22,808,555	​	$	16,233,941
KNTQ digital assets		1,918,479	​		285,450	​		111,406
Total		​	​	$	23,094,005	​	$	16,345,347

Schedule of digital intangible assets

The following table sets forth the cost basis, impairment amount, and carrying amount of digital intangible assets held, as shown on the balance sheet as of December 31, 2025:

​	​	​	​	​	​	​	​	​
​	​ ​ ​	Units	​ ​ ​	Cost		​ ​ ​	Carrying Value
HiHYPE		398,277	​	$	18,695,687	​	$	8,437,277
kHYPE		505,434	​		14,656,514	​		11,369,458
kmHYPE		28,888	​		884,473	​		649,820
Other digital assets		2	​		135,000	​		135,000
Total		932,601	​	$	34,371,674	​	$	20,591,555

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Tabular disclosure of information about activity for crypto asset. Excludes information about crypto asset held for platform user.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476162/350-60-50-3

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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476162/350-60-50-1

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Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 40
-SubTopic 30
-Topic 350
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482640/350-30-55-40

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-SubTopic 30
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