COMMITMENTS AND CONTINGENCIES |
9 Months Ended | ||||||
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Sep. 30, 2026 | |||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||
| COMMITMENTS AND CONTINGENCIES | NOTE 16—COMMITMENTS AND CONTINGENCIES LITIGATION AND REGULATORY We may become subject to legal proceedings, regulatory investigations and claims that arise in the ordinary course of business. If this occurs we will review each proceeding, investigation and claim on a case by case basis and determine the probability of losses after considering, among other things, opinions and views of legal counsel and outcomes of similar cases and circumstances, there is significant judgment in making these estimates and actual results may differ significantly from these estimates. COMMITMENTS Revolving Credit Facility On January 24, 2026, we entered into a Revolving Credit Facility Agreement (the "Revolver") with one of our equity method investees. Under the terms of the agreement, we committed to provide a revolving credit facility of up to $4.75 million for 36 months. The credit facility bears an annual interest rate of 10%, which accrues daily based on a 360-day year. The first interest payment is due to us 18 months after the date of the Revolver. During the second quarter 2026, $580.0 thousand was borrowed by the equity method investee under the Revolver. Additionally, on June 25, 2026, we entered into an agreement where we agreed to terminate and settle the outstanding principal and accrued interest under the Revolver for $345.6 thousand, resulting in a loss of approximately $246.0 thousand. Promissory Note Agreement On May 4, 2026, we entered into a promissory note agreement to provide a $3.0 million USDC unsecured callable loan to Preference Capital (BVI) Ltd. The promissory note bears an annual interest rate of 15%, which is calculated on a 360-day year. Interest is to be paid to us in USDC and capitalized on a quarterly basis due on the last day of the calendar quarter. The borrowed amount is due to us the earlier of the one-year anniversary of the promissory note, default event as described under the agreement or two business days after we demand repayment. The loan was repaid in full during the second quarter 2026. We recognized interest income of $33.8 thousand, included within Investment and other income (expense), net, during the nine months ended September 30, 2026.
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