v3.25.2
FAIR VALUE MEASUREMENTS - Significant Unobservable Inputs Used for Assets and Liabilities (Details)
$ in Thousands
Jun. 30, 2025
USD ($)
Dec. 31, 2024
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 5,297,574 $ 4,674,336
Liabilities, fair value 644,821 722,470
Level 3    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value 514,097 605,522
Liabilities, fair value $ 0 $ 136,192
Level 3 | Marketability discount | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Crypto asset, measurement input 0.160 0.159
Crypto asset receivable, measurement input 0.035 0.055
Level 3 | Marketability discount | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Crypto asset, measurement input 0.306 0.452
Crypto asset receivable, measurement input 0.894 0.728
Level 3 | Marketability discount | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Crypto asset, measurement input 0.235 0.321
Crypto asset receivable, measurement input 0.457 0.358
Level 3 | Digital Intangible Assets    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 2,852 $ 20,457
Level 3 | Digital assets receivable    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, fair value $ 6,058 $ 60,492
Level 3 | Investments | Marketability discount | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.227 0.035
Level 3 | Investments | Marketability discount | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.350 0.518
Level 3 | Investments | Marketability discount | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.278 0.260
Level 3 | Investments | Time to liquidity event (years) | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.5 1.0
Level 3 | Investments | Time to liquidity event (years) | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 5.0 5.0
Level 3 | Investments | Time to liquidity event (years) | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 4.0 4.1
Level 3 | Investments | Annualized equity volatility | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.700 0.700
Level 3 | Investments | Annualized equity volatility | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.900 0.900
Level 3 | Investments | Annualized equity volatility | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.887 0.888
Level 3 | Investments | Risk free rate | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.034 0.034
Level 3 | Investments | Risk free rate | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.043 0.044
Level 3 | Investments | Risk free rate | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.038 0.042
Level 3 | Investments | Market adjustment discount | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.300 0.300
Level 3 | Investments | Market adjustment discount | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.900 0.900
Level 3 | Investments | Market adjustment discount | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.487 0.410
Level 3 | Investments | Market adjustment premium | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 1.500 0.250
Level 3 | Investments | Market adjustment premium | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 1.800 1.300
Level 3 | Investments | Market adjustment premium | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 1.730 0.796
Level 3 | Investments | Expected dividend payout ratio    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0 0
Level 3 | Investments | Expected dividend payout ratio | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0 0
Level 3 | Investments | Enterprise value to LTM revenue multiple | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 2.5 2.5
Level 3 | Investments | Enterprise value to LTM revenue multiple | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 11.0 16.8
Level 3 | Investments | Enterprise value to LTM revenue multiple | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 8.5 10.8
Level 3 | Investments | Enterprise Value to Projected Revenue | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 3.5  
Level 3 | Investments | Enterprise Value to Projected Revenue | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 5.5  
Level 3 | Investments | Enterprise Value to Projected Revenue | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 4.8  
Level 3 | Investments | Enterprise value to projected revenue multiple | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input   2.0
Level 3 | Investments | Enterprise value to projected revenue multiple | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input   10.5
Level 3 | Investments | Enterprise value to projected revenue multiple | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input   7.0
Level 3 | Investments | Enterprise value to annualized revenue | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 2.5 3.5
Level 3 | Investments | Enterprise value to annualized revenue | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input   9.0
Level 3 | Investments | Enterprise value to annualized revenue | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 2.5 6.7
Level 3 | Investments | Enterprise value to LTM volume    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 2.8 3.0
Level 3 | Investments | Enterprise value to LTM volume | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 2.8 3.0
Level 3 | Investments | Enterprise Value to ARR    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 8.0  
Level 3 | Investments | Enterprise Value to ARR | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input   8.5
Level 3 | Investments | Enterprise Value to ARR | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input   15.8
Level 3 | Investments | Enterprise Value to ARR | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 8.0 10.9
Level 3 | Investments | Price to tangible book value    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 1.3 1.5
Level 3 | Investments | Price to tangible book value | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 1.3 1.5
Level 3 | Investments | Enterprise value to projected EBITDA | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input   9.0
Level 3 | Investments | Enterprise value to projected EBITDA | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input   14.0
Level 3 | Investments | Enterprise value to projected EBITDA | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input   11.5
Level 3 | Investments | Enterprise Value to Gross Profit    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 6.0  
Level 3 | Investments | Enterprise Value to Gross Profit | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 6.0  
Level 3 | Investments | Scenario probability    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.440 0.350
Level 3 | Investments | Scenario probability | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.440 0.350
Level 3 | Investments | Recovery percentage    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input  
Level 3 | Investments | Recovery percentage | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input   0.350
Level 3 | Investments | Recovery percentage | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input   0.616
Level 3 | Investments | Recovery percentage | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Debt securities, available-for-sale, measurement input 0.515
Level 3 | Embedded derivative — Notes payable | Risk free rate | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivative liability, measurement input   0.042
Level 3 | Embedded derivative — Notes payable | Risk free rate | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivative liability, measurement input   0.044
Level 3 | Embedded derivative — Notes payable | Risk free rate | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivative liability, measurement input   0.043
Level 3 | Embedded derivative — Notes payable | Volatility | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivative liability, measurement input   0.456
Level 3 | Embedded derivative — Notes payable | Volatility | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivative liability, measurement input   0.750
Level 3 | Embedded derivative — Notes payable | Volatility | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivative liability, measurement input   0.554
Level 3 | Embedded derivative — Notes payable | Time-step (years)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivative liability, measurement input   0.004
Level 3 | Embedded derivative — Notes payable | Time-step (years) | Weighted Average    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Derivative liability, measurement input   0.004