v3.25.1
Revenue from Contracts with Customers (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
We disaggregate revenue by service type and by platform as follows (in thousands):
Service TypeThree Months Ended
March 31, 2025		Three Months Ended
March 31, 2024
Transaction revenue$1,070,707 $847,984 
Subscription and service revenue4,203 6,598 
Total revenue$1,074,910 $854,582 
PlatformThree Months Ended
March 31, 2025		Three Months Ended
March 31, 2024
Loyalty redemption platform, net$9,154 $13,242 
Crypto services1,065,756 841,340 
Total revenue$1,074,910 $854,582 
Contract Liabilities The activity in deferred revenue for the three months ended March 31, 2025 and March 31, 2024, respectively, was as follows (in thousands):
Three Months Ended
March 31, 2025		Three Months Ended
March 31, 2024
Beginning of the period contract liability$4,226 

$7,480 
Revenue recognized from contract liabilities included in the beginning balance(485)

(1,497)
Increases due to cash received, net of amounts recognized in revenue during the period124 

170 
End of the period contract liability$3,865 

$6,153