Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions In connection with the Business Combination, the Company paid $1.1 million in certain transaction costs reimbursable by Silver Spike’s sponsor (“Silver Spike Sponsor”), an affiliate to a member of the board of directors. On March 16, 2023, Silver Spike Holdings, an affiliate of Silver Spike Sponsor, entered into a promissory note with the Company and agreed to pay the principal amount of $1.1 million in 12 equal quarterly installments commencing on March 31, 2023. The promissory note bore interest at a rate of 5% per annum commencing on March 31, 2023 and matured on December 31, 2025. In an event of default, the outstanding principal amount bore interest for the entire period during which the principal balance was unpaid at a rate which was equal to 10% per annum. The promissory note was paid in full on January 2026. As of December 31, 2025, the remaining balance of the promissory note receivable was $0.1 million, and included in prepaid expenses and other current assets on the condensed consolidated balance sheets. For the three and six months ended June 30, 2025, interest income on the promissory note was less than $0.1 million, respectively, which is included in other income (expense), net on the condensed consolidated statements of operations. During the three and six months ended June 30, 2026, the Company reimbursed $0.1 million and $0.2 million, respectively, in certain legal fees to Silver Spike Holdings, an affiliate to a member of the board of directors in connection with responding to the previously disclosed SEC investigation into the calculation, definition and reporting of the Company’s monthly active users metric, which matter was concluded in October 2024. The expense is included in general and administrative expenses on the condensed consolidated statements of operations.
|