v3.25.2
DIGITAL ASSETS
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
DIGITAL ASSETS

NOTE 3 - DIGITAL ASSETS

 

We primarily receive crypto assets held for operations as payments for transaction revenue, blockchain rewards, custodial fee revenue, and other subscriptions and services revenue. Our intent is to convert crypto assets received as a form of payment to cash or to use them to fulfill expenses, primarily blockchain rewards, nearly immediately.

 

During times of instability in the crypto assets market, we may not be able to sell our crypto assets at reasonable prices or at all. As a result, our crypto assets held for operations are considered as current assets but less liquid than our cash and cash equivalents and may not be able to serve as a source of liquidity for us to the same extent as cash and cash equivalents.

 

As of June 30, 2025, the details of digital assets we held are as follows:

 

Ticker Symbol  Digital
Assets		  Number of
Tokens (1)		   Value per
Token (1)		   Total
Value (2)		 
2UT  Brighsun 2UT   8,451.810   $2.336   $19,747 
BCH  Bitcoin Cash   0.022    505.900    11 
BTC  Bitcoin   0.033    107,133.000    3,516 
ETH  Ethereum   0.824    2,488.190    2,050 
USDT  Tether   208,244.941    1.000    208,245 
XRP  Ripple   93.363    2.240    209 
                $233,778 

 

(1) Number of tokens and value per token were displayed up to 3 decimal places, respectively.
(2) Total value was rounded to the nearest dollar.

 

As of December 31, 2024, the details of digital assets we held are as follows:

 

Ticker Symbol  Digital
Assets		  Number of
Tokens (1)		   Value per
Token (1)		   Total
Value (2)		 
2UT  Brighsun 2UT   2,127.949   $4.451   $9,471 
BCH  Bitcoin Cash   0.022    234.360    5 
BTC  Bitcoin   0.004    85,045.455    318 
ETH  Ethereum   0.815    3,285.560    2,677 
USDT  Tether   179,933.792    1.000    179,885 
XRP  Ripple   82.017    0.513    42 
                $192,398 

 

(1) Number of tokens and value per token were displayed up to 3 decimal places, respectively.
(2) Total value was rounded to the nearest dollar.

 

The following table sets forth a summary of the changes in the estimated fair value of our digital assets during the period ended June 30, 2025 and the year ended December 31, 2024, respectively:

 

   As of
June 30, 2025		   As of
December 31, 2024		 
   (Unaudited)   (Audited) 
Fair value at beginning of period / year  $192,398   $- 
Additions during the period / year   46,250    192,398 
Change in fair value during the period   (4,870)   - 
Fair value at end of period / year  $233,778   $192,398 

 

The estimated fair value of our digital assets was $233,778 and $192,398 as of June 30, 2025 and December 31, 2024, respectively.

 

For the three and six months ended June 30, 2025, we recognized a fair value gain on digital assets of $1,895 and a fair value loss on digital assets of $4,870, respectively.

 

During 2024, we issued 4,000,000 tokens of our digital assets, GX Token, in exchange for 5,000,000 tokens of Dignity Token, an asset-backed crypto security token (“DiGau”). As of December 31, 2024, for the token exchange, DiGau was not recognized in our consolidated balance sheet, as the transaction did not meet the criteria for asset recognition.

 

As of the date of this report, we have not yet determined the value of DiGau and are still evaluating the fair value due to a lack of observable market transactions and price information. As a result, the transaction was not disclosed in our condensed consolidated financial statements for the period ended June 30, 2025.