v3.26.1
FAIR VALUE MEASUREMENTS - SECURITIZE, INC. AND SUBSIDIARIES (Tables) - Securitize, Inc. and Subsidiaries
 3 Months Ended
Mar. 31, 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of Fair Value Hierarchy
The following table sets forth by level within the fair value hierarchy, the Company’s assets and liabilities measured and recorded at fair value on a recurring basis:
March 31, 2026Level 1Level 2Level 3Total
Assets
U.S. Treasury bills$935,631 $— $— $935,631 
Digital assets from operations165,100 — — 165,100 
Digital assets held for investment1,177,803 — — 1,177,803 
Digital assets receivable2,059,917 — — 2,059,917 
BUIDL, unrestricted4,253,684 — — 4,253,684 
Total assets$8,592,135 $— $— $8,592,135 
Liabilities
Option liability$— $— $11,300,000 $11,300,000 
SAFEs— — 11,817,000 11,817,000 
Derivative liability— — 28,171,000 28,171,000 
Total liabilities$— $— $51,288,000 $51,288,000 
December 31, 2025Level 1Level 2Level 3Total
Assets
U.S. Treasury bills$928,037 $— $— $928,037 
Stablecoins86,472 — — 86,472 
Digital assets1,936,626 — — 1,936,626 
Digital assets receivable2,500,102 — — 2,500,102 
BUIDL, unrestricted4,467,926 — — 4,467,926 
Total assets$9,919,163 $— $— $9,919,163 
Liabilities
Option liability$— $— $11,390,000 $11,390,000 
SAFEs— — 10,449,000 10,449,000 
Derivative liability— — 26,170,000 26,170,000 
Total liabilities$— $— $48,009,000 $48,009,000 
The following table sets forth by level within the fair value hierarchy, the Company’s assets and liabilities measured and recorded at fair value on a recurring basis:
Level 1Level 2Level 3Total
December 31, 2025
Assets
U.S. Treasury bills
$928,037 $— $— $928,037 
Stablecoins
86,472 — — 86,472 
Digital assets
1,936,626 — — 1,936,626 
Digital assets receivable
2,500,102 — — 2,500,102 
BUIDL, unrestricted
4,467,926 — — 4,467,926 
Total assets
$9,919,163 $— $— $9,919,163 
Liabilities
Option liability
$— $— $11,390,000 $11,390,000 
SAFEs
— — 10,449,000 10,449,000 
Derivative liability
— — 26,170,000 26,170,000 
Total liabilities
$— $— $48,009,000 $48,009,000 
Level 1Level 2Level 3Total
December 31, 2024
Assets
U.S. Treasury bills
$1,269,373 $— $— $1,269,373 
Stablecoins
20,744,633 — — 20,744,633 
Digital assets
31,246 — — 31,246 
BUIDL, unrestricted
16,892,142 — — 16,892,142 
Total assets
$38,937,394 $— $— $38,937,394 
Liabilities
Option liability
$— $— $4,959,000 $4,959,000 
SAFEs
— — 5,714,000 5,714,000 
Derivative liability
— — 11,293,000 11,293,000 
Total liabilities
$— $— $21,966,000 $21,966,000 
Schedule of Activity of Level 3 Financial Instruments
The following table shows the activity of Level 3 financial instruments:
Balance as of December 31, 2024
$21,966,000 
Fair value adjustment – SAFE66,000 
Fair value adjustment – Derivative liability290,000 
Fair value adjustment – Option liability(490,000)
Balance as of March 31, 2025
$21,832,000 
Balance as of December 31, 2025
$48,009,000 
Fair value adjustment – SAFE1,368,000 
Fair value adjustment – Derivative liability2,001,000 
Fair value adjustment – Option liability(90,000)
Balance as of March 31, 2026
$51,288,000 
The following table shows the activity of Level 3 financial instruments:
Balance as of January 1, 2024
$10,839,000 
Recognition of Level 3 Derivative liability
9,923,000 
Fair value adjustment – SAFE
95,000 
Fair value adjustment – Derivative liability
1,370,000 
Fair value adjustment – Option liability
(261,000)
Balance as of December 31, 2024
$21,966,000 
Recognition of Level 3 Derivative liability
3,158,000 
Fair value adjustment – SAFE
4,735,000 
Fair value adjustment – Derivative liability
11,719,000 
Fair value adjustment – Option liability
6,431,000 
Balance as of December 31, 2025
$48,009,000 
Schedule of Cost and Fair Value of Investments
The following table presents the cost and fair value of the Company’s investments:
Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
March 31, 2026
U.S. Treasury bills$928,037 $7,594 $— $935,631 
$928,037 $7,594 $— $935,631 
December 31, 2025
U.S. Treasury bills$911,609 $16,428 $— $928,037 
$911,609 $16,428 $— $928,037 
The following table presents the cost and fair value of the Company’s investments:
Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
December 31, 2025
U.S. Treasury bills
$911,609 $16,428 $— $928,037 
$911,609 $16,428 $— $928,037 
December 31, 2024
U.S. Treasury bills
$1,290,517 $— $(21,144)$1,269,373 
$1,290,517 $— $(21,144)$1,269,373 
Schedule of Investments in an Unrealized Loss Position
The following table reflects information about the Company’s investments held in an unrealized gains position:
Less than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized
Gains
(Losses)		Fair ValueUnrealized
Gains
(Losses)		Fair ValueUnrealized
Gains
(Losses)
March 31, 2026
U.S. Treasury bills$935,631 $7,594 $— $— $935,631 $7,594 
December 31, 2025
U.S. Treasury bills$928,037 $16,428 $— $— $928,037 $16,428 
The following table reflects information about the Company’s investments held at an unrealized loss position:
Less than 12 Months12 Months or GreaterTotal
Fair ValueUnrealized
Gains
(Losses)		Fair ValueUnrealized
Gains
(Losses)		Fair ValueUnrealized
Gains
(Losses)
December 31, 2025
U.S. Treasury bills
$928,037 $16,428 $— $— $928,037 $16,428 
December 31, 2024
U.S. Treasury bills
$1,269,373 $(21,144)$— $— $1,269,373 $(21,144)