v3.26.1
Revenue from Contracts with Customers (Tables)
6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The Company disaggregates Crypto Services revenue by service type as follows (in thousands):
Three Months Ended
June 30, 2026
Three Months Ended
June 30, 2025
Six Months Ended
June 30, 2026
Six Months Ended
June 30, 2025
Transaction revenue$169,924 $568,088 $413,320 $1,633,829 
Service revenue225 15 422 30 
Crypto services revenue$170,149 $568,103 $413,742 $1,633,859 
Contract Liabilities The activity in deferred revenue for the six months ended June 30, 2026 and June 30, 2025, respectively, was as follows (in thousands):
Six Months Ended
June 30, 2026
Six Months Ended
June 30, 2025
Beginning of the period contract liability$789 

$— 
Revenue recognized from contract liabilities included in the beginning balance(789)

— 
Increases due to cash received, net of amounts recognized in revenue during the period— 

— 
End of the period contract liability$— 

$—