Digital assets

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

7. Digital assets

The composition of digital assets included the following (in thousands, except quantity):


Table 7.1. Details of Digital Assets
	June 30, 2026					December 31, 2025
	Quantity	Cost Basis		Fair Value		Quantity	Cost Basis		Fair Value
Canton Coin	384,446,370	$	18,788	$	54,306	367,760,063	$	13,612	$	56,028
Hyperliquid	501,459	22,557		32,548		81,437	4,578		2,072
Bitcoin(1)	76	2,497		4,481		73	2,255		6,409
Sui	4,086,013	8,888		2,821		3,838,405	8,599		5,385
Ether	1,718	4,398		2,700		1,747	4,529		5,188
Other digital assets(2)	n.m.	27,569		9,683		n.m.	22,302		11,433
Total digital assets		$	84,697	$	106,539		$	55,875	$	86,515

(1) Includes Circle-wrapped Bitcoin (“cirBTC”) as of June 30, 2026.

(2) Includes other digital asset balances, none of which individually represented more than 10% of the fair value of the total digital assets.

n.m.= not meaningful

As of June 30, 2026, there are certain digital assets with a total fair value of $1.6 million subject to various time-based contractual sale restrictions ranging from July 2026 until May 2030.

Digital assets losses (gains) consists of the following (in thousands):


Table 7.2. Digital assets losses (gains)
	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
(Gains) losses on disposals of digital assets	$	79	$	(7)	$	79	$	(30)


Unrealized (gains) losses on changes in fair value of digital assets	(777)		(686)		79		5,607

Total	$	(698)	$	(693)	$	158	$	5,577

Refer to Note 12 for gains and losses on digital assets held for investments.