The following table reflects the changes in the carrying amount of goodwill (in thousands):


	Carrying Amount
Balance at January 1, 2026	$	4,168,967
Additions due to acquisitions	39,843
Foreign currency translation adjustments	(69,320)
Balance at June 30, 2026	$	4,139,490

There was no impairment recognized against goodwill at the beginning or end of the period presented, and no measurement period adjustments during the period presented.

Intangible assets, net excludes internally developed software and crypto assets, which are presented in Software and equipment, net within Note 13. Condensed Consolidated Balance Sheets Details and in the various crypto assets held line items within the Condensed Consolidated Balance Sheets, respectively.

The effects of amortization of Intangible assets, net on the Condensed Consolidated Statements of Operations was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Technology and development	$	15,356	$	1,973	$	31,140	$	3,697
Sales and marketing	17,774		—		35,793		—
General and administrative	1,714		3,317		3,523		6,698
Total amortization expense	$	34,844	$	5,290	$	70,456	$	10,395

There were no material impairment charges associated with these assets during these periods. The Company estimates no significant residual value related to these amortizing intangible assets.

The expected future amortization expense for amortizing intangible assets for the 12-month period ending June 30 of the respective year, as of June 30, 2026, is as follows (in thousands):


2027	$	131,185
2028	127,121
2029	122,918
2030	121,737
2031	121,141
Thereafter	666,767
Total expected future amortization expense	$	1,290,869