EQUITY SECURITIES (Tables)

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Equity Securities

Equity securities consist of the following (in thousands):

	September 30, 2023		December 31, 2022
Equity securities accounted for under the equity method under ASC 323	$	128,235	$	213,494
Equity securities accounted for under the equity method under the fair value option	41,076		82,787
Equity securities under ASC 321	15		36
Total equity securities	$	169,326	$	296,317

Equity Securities Ownership Interest

The following table includes our equity securities accounted for under the equity method and related ownership interest as of September 30, 2023:

	Ownership interest
Medici Ventures, L.P.	99%
tZERO Group, Inc.	28%
SpeedRoute, LLC	49%

Equity Method Investments

The following table summarizes the net loss recognized on equity method securities recorded in Other expense, net in our consolidated statements of operations (in thousands):

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Net loss recognized on our proportionate share of the net assets of our equity method securities	$	(41,837)	$	(17,231)	$	(85,255)	$	(20,979)
Increase (decrease) in fair value of equity method securities held under fair value option	2,691		(29,413)		(41,711)		(28,248)

Equity Method Investments, Summarized Financial Information

The following is the unaudited summarized financial information for those equity method securities that met the significance criteria for the period ended September 30, 2023, presented on a quarterly lag, (in thousands):

	Nine months ended September 30,
	2023		2022
Results of Operations
Revenues	$	1,373	$	2,070
Pre-tax loss	(15,681)		(23,151)
Net loss	(15,882)		(22,913)