(In thousands)

Fair Value Measurement at June 30, 2026

Assets:

Total

Level 1

Level 2

Level 3

Money market funds1

$

100,394

$

100,394

$

-

$

-

Treasury funds1

35,662

35,662

-

-

USDC2

12,024

12,024

-

-

HYPE digital assets

1,904,052

1,904,052

-

-

Total assets measured at fair value

$

2,052,132

$

2,052,132

$

-

$

-

1 - Included in cash and cash equivalents on the consolidated balance sheets.

2 - Included in prepaids and other current assets on the consolidated balance sheets.