SUBSEQUENT EVENTS |
3 Months Ended | ||||||
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Mar. 31, 2026 | |||||||
| Subsequent Events [Abstract] | |||||||
| SUBSEQUENT EVENTS | NOTE 18—SUBSEQUENT EVENTS We have evaluated events and transactions that occurred after the balance date through May 19, 2026, the date the condensed consolidated financial statements were available to be issued, we concluded the following events required disclosure to the Notes to the Condensed Consolidated Financial Statements. PROMISSORY NOTE AGREEMENT On May 4, 2026, we entered into promissory note agreement to provide a $3.0 million USDC unsecured callable loan to Preference Capital (BVI) Ltd. The promissory note bears an annual interest rate of 15%, which is calculated on a 360-day year. Interest is to be paid to us in USDC and capitalized on a quarterly basis due on the last day of the calendar quarter. The borrowed amount is due to us the earlier of the one-year anniversary of the promissory note, default event as described under the agreement or two business days after we demand repayment. ELOC We issued 530.8 thousand shares representing two months of commitment fee payments. CONVERTIBLE NOTES We repurchased $7.9 million in aggregate principal amount of our July Notes for approximately $4.8 million.
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