v3.25.2
Fair Value Measurement - Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
Jun. 30, 2025
Dec. 31, 2024
Dec. 31, 2023
Financial instruments owned      
Equities $ 4,281,944 [1] $ 529,984 [2],[3] $ 562,051 [3]
U.S Treasury Bills 99,657,752 [4] 233,445,264 [4],[5] 189,143,720 [5]
FX forward contract [2]   60,879  
Customer-held fractional shares 127,456,614 108,252,531 45,528,829
Total financial assets 231,396,310 342,288,658 235,234,600
Liabilities      
FX forward contract [6] 34,885    
Financial instruments sold not yet purchased [6]    
Equity options 4,952,733 2,196 [7] 2,083 [7]
Fractional share repurchase obligation 127,456,614 [6] 108,252,531 [6],[7] 45,528,829 [7]
Total financial liabilities 132,444,232 108,254,727 [7] 45,530,912 [7]
Level 1 [Member] | Fair Value, Recurring [Member]      
Financial instruments owned      
Equities 4,281,944 [1] 529,984 [2],[3] 562,051 [3]
U.S Treasury Bills 99,657,752 [4] 233,445,264 [4],[5] 189,143,720 [5]
FX forward contract [2]   60,879  
Customer-held fractional shares 127,456,614 108,252,531 45,528,829
Total financial assets 231,396,310 342,288,658 235,234,600
Liabilities      
FX forward contract [6] 34,885    
Financial instruments sold not yet purchased [6]    
Equity options 4,952,733 2,196 [7] 2,083 [7]
Fractional share repurchase obligation 127,456,614 [6] 108,252,531 [6],[7] 45,528,829 [7]
Total financial liabilities 132,444,232 108,254,727 [7] 45,530,912 [7]
Level 2 [Member] | Fair Value, Recurring [Member]      
Financial instruments owned      
Equities [1] [2],[3] [3]
U.S Treasury Bills [4] [4],[5] [5]
Customer-held fractional shares
Total financial assets
Liabilities      
FX forward contract [6]    
Financial instruments sold not yet purchased [6]    
Equity options [7] [7]
Fractional share repurchase obligation [6] [6],[7] [7]
Total financial liabilities [7] [7]
Level 3 [Member] | Fair Value, Recurring [Member]      
Financial instruments owned      
Equities [1] [2],[3] [3]
U.S Treasury Bills [4] [4],[5] [5]
Customer-held fractional shares
Total financial assets
Liabilities      
FX forward contract [6]    
Financial instruments sold not yet purchased [6]    
Equity options [7] [7]
Fractional share repurchase obligation [6] [6],[7] [7]
Total financial liabilities [7] [7]
[1] Fair value of equities are classified within prepaid expenses and other current assets on our condensed consolidated statements of financial position.
[2] Fair value of financial instruments owned are classified within prepaid expenses and other current assets on our condensed consolidated statements of financial position.
[3] Fair value of financial instruments owned are classified within prepaid expenses and other current assets on the consolidated statements of financial position.
[4] Represents U.S. Treasury Bills with an original maturity of less than 90 days and are included within cash equivalents within our condensed consolidated statements of financial position.
[5] Represents U.S. Treasury Bills with an original maturity of less than 90 days and are included within cash and cash equivalents segregated under federal and foreign requirements within our consolidated statements of financial position.
[6] Fair value of obligation is classified within payables due to customers on the condensed consolidated statements of financial position.
[7] Fair value of obligation is classified within payables due to customers on the consolidated statements of financial position.