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EQUITY SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Equity securities
Equity securities consist of the following (in thousands):
December 31,
20242023
Equity securities accounted for under the equity method under ASC 323$56,546 $114,827 
Equity securities accounted for under the equity method under the fair value option21,640 41,046 
Total equity securities$78,186 $155,873 
Equity Security Ownership Interest
The following table includes our equity securities accounted for under the equity method (ASC 323) and related ownership interest as of December 31, 2024:
Ownership
interest
Medici Ventures, L.P.99%
tZERO Group, Inc.28%
SpeedRoute, LLC49%
Equity method investments
The following table summarizes the net loss recognized on equity method securities recorded in Other expense, net in our consolidated statements of operations (in thousands):
Years ended December 31,
202420232022
Net loss recognized on our proportionate share of the net assets of our equity method securities$(58,281)$(98,663)$(25,435)
Decrease in fair value of equity method securities held under fair value option(19,406)(41,741)(38,488)
Equity Method Investments, Summarized Financial Information The table below provides the summarized financial information required by Rule 4-08(g) for those equity method securities in aggregate that have met the significance criteria, presented on a quarterly lag (in thousands):
December 31,
Balance Sheet20242023
Assets$63,546 $98,544 
Liabilities(17,985)(17,166)
Equity$(45,561)$(81,378)

Years ended December 31,
Results of Operations202420232022
Revenues$12,086 $26,404 $31,187 
Pre-tax loss(20,778)(19,895)(37,619)
Net loss(20,777)(20,169)(37,477)