Strategic Investments (Tables)

6 Months Ended

Jun. 30, 2024

Strategic Investments

Schedule of roll-forward of strategic investments

The following tables provide a roll-forward of the balance of strategic investments (in thousands):

	Three Months Ended June 30, 2024										Three Months Ended June 30, 2023
	Equity investments		Warrants			Call options	Debt investments		Total		Equity investments		Warrants			Call options		Total
Balance, beginning of period	$	280,108	$	2,356	$	13,033	$	—	$	295,497	$	277,676	$	1,654	$	17,233	$	296,563
Investments		60,000		—		—		7,500		67,500		10,917		—		—		10,917
Fair value adjustments:
Realized gains		—		—		21		—		21		—		—		—		—
Unrealized gains		—		—		—		137		137		—		—		—		—
Unrealized losses and impairments		—		—		—		—		—		(72,648)		(1,195)		—		(73,843)
Exercises		—		—		(21)		—		(21)		—		—		—		—
Balance, end of period	$	340,108	$	2,356	$	13,033	$	7,637	$	363,134	$	215,945	$	459	$	17,233	$	233,637

	Six Months Ended June 30, 2024										Six Months Ended June 30, 2023
	Equity investments		Warrants			Call options	Debt investments		Total		Equity investments		Warrants			Call options		Total
Balance, beginning of period	$	212,996	$	1,501	$	17,233	$	—	$	231,730	$	277,676	$	1,654	$	17,233	$	296,563
Investments		69,128		—		—		7,500		76,628		10,917		—		—		10,917
Fair value adjustments:
Realized gains		45,162		—		21		—		45,183		—		—		—		—
Realized losses		—		—		(2,870)		—		(2,870)		—		—		—		—
Unrealized gains		74,784		855		—		137		75,776		—		—		—		—
Unrealized losses and impairments		—		—		—		—		—		(72,648)		(1,195)		—		(73,843)
Exercises		(61,962)		—		(1,351)		—		(63,313)		—		—		—		—
Balance, end of period	$	340,108	$	2,356	$	13,033	$	7,637	$	363,134	$	215,945	$	459	$	17,233	$	233,637

	Inception to date
	Equity investments		Warrants			Call options	Debt investments		Total
Investments	$	193,626	$	4,222	$	17,233	$	7,500	$	222,581
Fair value adjustments:
Realized gains		57,474		—		21		—		57,495
Realized losses		—		—		(2,870)		—		(2,870)
Unrealized gains		149,601		29,928		—		137		179,666
Unrealized losses and impairments		(82,304)		(1,705)		—		—		(84,009)
Exercises		36,257		(30,089)		(1,351)		—		4,817
Sales		(14,546)		—		—		—		(14,546)
Balance, end of period	$	340,108	$	2,356	$	13,033	$	7,637	$	363,134