Strategic Investments (Tables)

6 Months Ended

Jun. 30, 2023

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, 2023								Three Months Ended June 30, 2022
	Strategic investments		Warrants			Call options	Total		Strategic investments		Warrants			Call options		Total
Balance, beginning of period	$	277,676	$	1,654	$	17,233	$	296,563	$	123,168	$	31,284		—	$	154,452
Investments		10,917		—		—		10,917		44,660		—		16,340		61,000
Fair value adjustments:
Unrealized gains		—		—		—		—		—		—		—		—
Unrealized losses and impairments		(72,648)		(1,195)		—		(73,843)		(391)		—		—		(391)
Exercises		—		—		—		—		96,719		(30,089)		—		66,630
Balance, end of period	$	215,945	$	459	$	17,233	$	233,637	$	264,156	$	1,195	$	16,340	$	281,691

	Six Months Ended June 30, 2023								Six Months Ended June 30, 2022
	Strategic investments		Warrants			Call options	Total		Strategic investments		Warrants			Call options		Total
Balance, beginning of period	$	277,676	$	1,654	$	17,233	$	296,563	$	80,775	$	2,745		—	$	83,520
Investments		10,917		—		—		10,917		45,160		—		16,340		61,500
Fair value adjustments:
Unrealized gains		—		—		—		—		41,893		28,539		—		70,432
Unrealized losses and impairments		(72,648)		(1,195)		—		(73,843)		(391)		—		—		(391)
Exercises		—		—		—		—		96,719		(30,089)		—		66,630
Balance, end of period	$	215,945	$	459	$	17,233	$	233,637	$	264,156	$	1,195	$	16,340	$	281,691

	Inception to date
	Strategic investments		Warrants			Call options	Total
Investments	$	120,399	$	3,047	$	17,233	$	140,679
Fair value adjustments:
Realized gains		12,312		—		—		12,312
Unrealized gains		74,817		29,073		—		103,890
Unrealized losses and impairments		(73,756)		(1,572)		—		(75,328)
Exercises		96,719		(30,089)		—		66,630
Sales		(14,546)		—		—		(14,546)
Balance, end of period	$	215,945	$	459	$	17,233	$	233,637