v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The following table presents revenue disaggregated by type during the periods presented (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Digital assets sales
$4,197,517 $2,278,163 $7,857,025 $3,883,630 
Staking
64,684 90,895 114,085 236,858 
Subscriptions and services
27,548 25,395 53,123 48,365 
Stablecoin-as-a-Service
38,824 15,655 76,981 15,659 
Interest income
822 354 1,754 614 
Total revenue
$4,329,395 $2,410,462 $8,102,968 $4,185,126 

The following table presents revenue disaggregated by geography, based on the invoice address of the Company’s customers, during the periods presented (in thousands):

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
U.S.
$2,609,356 $944,531 $4,556,778 $1,650,321 
International (1)
1,720,039 1,465,931 3,546,190 2,534,805 
Total revenue
$4,329,395 $2,410,462 $8,102,968 $4,185,126 
_______________
(1) For the three months ended June 30, 2026, no individual country accounted for more than 10% of total revenue, except for the Cayman Islands, which accounted for 10.8%. For the six months ended June 30, 2026, no individual country accounted for more than 10% of total revenue, except for the United Kingdom and the Cayman Islands, which accounted for 10.7% and 11.2%, respectively. For the three and six months ended June 30, 2025, no individual country accounted for more than 10% of total revenue, except for the Cayman Islands, which accounted for 29.0% and 24.0%, respectively.