v3.25.2
FAIR VALUE MEASUREMENTS AND STRATEGIC INVESTMENTS - Schedule of fair value of assets and liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Assets      
Cash equivalents $ 7,539,388 $ 8,543,903 $ 7,225,535
Crypto assets held for operations 54,300    
Crypto assets borrowed 223,620 261,052  
Crypto assets held for investment 1,838,887 1,552,995  
Liabilities      
Restricted cash and deposits 66,700 37,100  
Non-marketable securities 380,200 374,200  
Other current assets not measured at fair value 173,500 277,500  
Deposits Held at Banks      
Assets      
Cash equivalents 1,600,000 1,900,000  
Customer custodial funds 2,000,000 1,900,000  
Cash Held at Venues      
Assets      
Cash equivalents 1,600,000 1,900,000  
Level 1 | Fair Value, Recurring      
Assets      
Cash equivalents 5,980,319 6,607,023  
Restricted cash equivalents 2,519 1,415  
Customer custodial funds 3,139,226 4,269,410  
Crypto assets held for operations 125,974 82,781  
Crypto asset loan receivables 0 0  
Crypto assets held as collateral 951,272 767,484  
Crypto assets borrowed 223,620 261,052  
Other current assets 105,711 0  
Crypto assets held for investment 1,838,887 1,552,995  
Strategic investments 1,543,261 0  
Derivative assets 0 0  
Total assets 13,910,789 13,542,160  
Liabilities      
Derivative liabilities 0 0  
Level 2 | Fair Value, Recurring      
Assets      
Cash equivalents 0 0  
Restricted cash equivalents 0 0  
Customer custodial funds 0 0  
Crypto assets held for operations 0 0  
Crypto asset loan receivables 53,129 92,619  
Crypto assets held as collateral 0 0  
Crypto assets borrowed 0 0  
Other current assets 0 0  
Crypto assets held for investment 0 0  
Strategic investments 10,340 0  
Derivative assets 60,194 108,665  
Total assets 123,663 201,284  
Liabilities      
Derivative liabilities $ 317,837 $ 255,915