LIQUIDITY AND GOING CONCERN	9 Months Ended
Sep. 30, 2026
Risks and Uncertainties [Abstract]
LIQUIDITY AND GOING CONCERN	LIQUIDITY AND GOING CONCERN As of September 30, 2026, the Company had cash and cash equivalents of $3.5 million and an accumulated deficit of approximately $231.9 million. The Company has historically incurred recurring operating losses and negative operating cash flows and expects to continue to incur operating losses as it invests in its financial technology platform and digital asset initiatives. For the nine months ended September 30, 2026, the Company incurred a net loss of approximately $41.4 million and used $23.5 million of cash in operating activities. The $41.4 million net loss for the nine months ended September 30, 2026, was comprised of several core non-cash items including a $4.0 million non-cash unrealized loss on the change in fair value of digital assets, $17.8 million of non-cash stock-based compensation expense, and a $3.5 million non-cash provision for credit losses, partially offset by a $10.6 million non-cash deferred income tax benefit. The Company manages its liquidity through cash on hand, its Bitcoin treasury holdings and access to debt and equity financing, including its Bitcoin-backed credit facility, promissory note and at-the-market (“ATM”) equity offering program. The Company may monetize Bitcoin holdings through sales or collateralized borrowings, subject to applicable contractual and collateral requirements. At September 30, 2026, $21.0 million was outstanding under the Company’s Bitcoin-collateralized Master Loan Agreement with Payward Interactive, Inc. On October 12, 2026, the aggregate borrowing commitment increased from $25.0 million to $40.0 million, leaving $19.0 million of additional borrowing capacity as of that date, subject to applicable borrowing conditions, collateral requirements and execution of individual loan term sheets. The amended collateral arrangements also provide for cross-collateralization of borrowings and certain digital asset derivative obligations. See Notes 7 and 16. On September 25, 2026, the Company entered into an unsecured promissory note with Goldeneye 1995 LLC, the Company’s controlling stockholder and an entity solely owned and managed by the Company's Chairman and Chief Executive Officer. The note permits advances of up to $22.0 million, bears interest at 8.5% per annum and matures on September 25, 2029. No amounts were outstanding at September 30, 2026. See Note 14. On July 1, 2026, the Company entered into a Consulting Agreement with Hard Yaka Ventures Management Co., LLC (“Hard Yaka”), an affiliate of the Company’s Chairman and Chief Executive Officer, to support the continued development of the tokenized deposit program. During the nine months ended September 30, 2026, the Company received approximately $3.0 million in capital contributions from Hard Yaka. See Note 13. In accordance with Accounting Standards Codification (“ASC”) 205-40, management evaluated the Company’s ability to continue as a going concern for a period of one year from the date the financial statements are issued. This evaluation considered projected cash requirements and available liquidity resources, including cash on hand, Bitcoin holdings available to be monetized or pledged as collateral to generate liquidity, and access to external financing arrangements. Based on this evaluation, management concluded that there is no substantial doubt about the Company’s ability to continue as a going concern for the twelve months following the issuance of these consolidated financial statements.

As of September 30, 2026, the Company had cash and cash equivalents of $3.5 million and an accumulated deficit of approximately $231.9 million. The Company has historically incurred recurring operating losses and negative operating cash flows and expects to continue to incur operating losses as it invests in its financial technology platform and digital asset initiatives. For the nine months ended September 30, 2026, the Company incurred a net loss of approximately $41.4 million and used $23.5 million of cash in operating activities. The $41.4 million net loss for the nine months ended September 30, 2026, was comprised of several core non-cash items including a $4.0 million non-cash unrealized loss on the change in fair value of digital assets, $17.8 million of non-cash stock-based compensation expense, and a $3.5 million non-cash provision for credit losses, partially offset by a $10.6 million non-cash deferred income tax benefit.

The Company manages its liquidity through cash on hand, its Bitcoin treasury holdings and access to debt and equity financing, including its Bitcoin-backed credit facility, promissory note and at-the-market (“ATM”) equity offering program. The Company may monetize Bitcoin holdings through sales or collateralized borrowings, subject to applicable contractual and collateral requirements.

At September 30, 2026, $21.0 million was outstanding under the Company’s Bitcoin-collateralized Master Loan Agreement with Payward Interactive, Inc. On October 12, 2026, the aggregate borrowing commitment increased from $25.0 million to $40.0 million, leaving $19.0 million of additional borrowing capacity as of that date, subject to applicable borrowing conditions, collateral requirements and execution of individual loan term sheets. The amended collateral arrangements also provide for cross-collateralization of borrowings and certain digital asset derivative obligations. See Notes 7 and 16.

On September 25, 2026, the Company entered into an unsecured promissory note with Goldeneye 1995 LLC, the Company’s controlling stockholder and an entity solely owned and managed by the Company's Chairman and Chief Executive Officer. The note permits advances of up to $22.0 million, bears interest at 8.5% per annum and matures on September 25, 2029. No amounts were outstanding at September 30, 2026. See Note 14.

On July 1, 2026, the Company entered into a Consulting Agreement with Hard Yaka Ventures Management Co., LLC (“Hard Yaka”), an affiliate of the Company’s Chairman and Chief Executive Officer, to support the continued development of the tokenized deposit program. During the nine months ended September 30, 2026, the Company received approximately $3.0 million in capital contributions from Hard Yaka. See Note 13.

In accordance with Accounting Standards Codification (“ASC”) 205-40, management evaluated the Company’s ability to continue as a going concern for a period of one year from the date the financial statements are issued. This evaluation considered projected cash requirements and available liquidity resources, including cash on hand, Bitcoin holdings available to be monetized or pledged as collateral to generate liquidity, and access to external financing arrangements. Based on this evaluation, management concluded that there is no substantial doubt about the Company’s ability to continue as a going concern for the twelve months following the issuance of these consolidated financial statements.