v3.25.4
FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Assets:      
Digital assets $ (35,942) $ (19,207)  
Marketable securities 273,151 163,489  
Loans held for sale, at fair value 404,337 395,922 $ 255,516
Loan servicing asset, at fair value $ 113,064 88,497 55,860
DerivativeAssetStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag Treasury note futures (F)    
Adjustment      
Assets:      
Digital assets   2,400  
Carrying Value      
Assets:      
Digital assets $ (35,942) (19,207) $ 0
Level 3      
Assets:      
Loans held for sale, at fair value 404,337 369,983  
Fair Value, Recurring | Carrying Value      
Assets:      
Cash and cash equivalents 1,198,141 289,670  
Restricted cash 68,637 57,777  
Digital assets (88,511) (83,622)  
Distressed asset claims 3,068 7,589  
Marketable securities 273,151 163,489  
Loans held for sale, at fair value 404,337 395,922  
Loan servicing asset, at fair value 113,064 88,497  
Treasury note futures 442    
Total assets 2,149,351 1,086,566  
Liabilities:      
Digital asset collateral repayment obligation 52,569 64,447  
Certificate repayment obligation 266,654    
Total liabilities 319,223 64,447  
Fair Value, Recurring | Estimate of Fair Value Measurement      
Assets:      
Cash and cash equivalents 1,198,141 289,670  
Restricted cash 68,637 57,777  
Digital assets (88,511) (83,622)  
Distressed asset claims 3,068 7,589  
Marketable securities 273,151 163,489  
Loans held for sale, at fair value 404,337 395,922  
Loan servicing asset, at fair value 113,064 88,497  
Treasury note futures 442    
Total assets 2,149,351 1,086,566  
Liabilities:      
Digital asset collateral repayment obligation 52,569 64,447  
Certificate repayment obligation 266,654    
Total liabilities 319,223 64,447  
Fair Value, Recurring | Level 1 | Estimate of Fair Value Measurement      
Assets:      
Cash and cash equivalents 955,200 289,670  
Restricted cash 68,637 57,777  
Digital assets (88,511) (83,622)  
Distressed asset claims 0 0  
Marketable securities 0 0  
Loans held for sale, at fair value 0 0  
Loan servicing asset, at fair value 0 0  
Treasury note futures 442    
Total assets 1,112,790 431,069  
Liabilities:      
Digital asset collateral repayment obligation 52,569 64,447  
Certificate repayment obligation 0    
Total liabilities 52,569 64,447  
Fair Value, Recurring | Level 2 | Estimate of Fair Value Measurement      
Assets:      
Cash and cash equivalents 242,941 0  
Restricted cash 0 0  
Digital assets 0 0  
Distressed asset claims 0 0  
Marketable securities 232,985 128,983  
Loans held for sale, at fair value 0 0  
Loan servicing asset, at fair value 0 0  
Treasury note futures 0    
Total assets 475,926 128,983  
Liabilities:      
Digital asset collateral repayment obligation 0 0  
Certificate repayment obligation 266,654    
Total liabilities 266,654 0  
Fair Value, Recurring | Level 3 | Estimate of Fair Value Measurement      
Assets:      
Cash and cash equivalents 0 0  
Restricted cash 0 0  
Digital assets 0 0  
Distressed asset claims 3,068 7,589  
Marketable securities 40,166 34,506  
Loans held for sale, at fair value 404,337 395,922  
Loan servicing asset, at fair value 113,064 88,497  
Treasury note futures 0    
Total assets 560,635 526,514  
Liabilities:      
Digital asset collateral repayment obligation 0 0  
Certificate repayment obligation 0    
Total liabilities $ 0 $ 0