Fair Value Measurements |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | Fair Value Measurements The Company’s financial assets are summarized below as of December 31, 2025 and 2024, with fair values shown according to the fair value hierarchy:
(1)These investments are recorded at cost. The Company invests in held to maturity treasury bills. As of December 31, 2025, the Company held no treasury bills. As of December 31, 2024, the Company held treasury bills with a maturity of greater than three months in other current assets in the amount of $30.5 million, and the Company held treasury bills with a maturity of less than three months in cash and cash equivalents in the amount of $0.7 million. The discount rates ranged from 1.1% to 2.4% as of December 31, 2024. Assets and Liabilities Not Measured and Recorded at Fair Value The Company’s financial instruments, including USDC, are carried at cost, which approximates their fair value. If these financial instruments were recorded at fair value, they would be based on Level 1 inputs. The Company also holds notes receivable that are recorded at amortized costs which approximates their fair value. The fair value of these instruments is not readily determinable due to their non-marketable nature and is therefore not included in the fair value hierarchy.
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