ALLOWANCE FOR CREDIT LOSSES (Tables)

9 Months Ended

Sep. 30, 2021

Credit Loss [Abstract]

ALLOWANCE FOR CREDIT LOSSES OF RECEIVABLES FROM USERS

The following table summarizes the allowance for credit losses, which primarily relate to unsecured balances of receivables from users due to fraudulent, unlawful or otherwise inappropriate customer behavior, such as when customers initiate deposits into their accounts, make trades on our platform using a short-term extension of credit from us, and then repatriate or reverse the deposits, resulting in a loss to us of the credited amount (“Fraudulent Deposit Transactions”) and to a lesser extent, losses on margin borrowings, for the periods indicated:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2020		2021		2020		2021
Beginning balance	$	41,055	$	35,253	$	17,122	$	34,092
Provision for credit losses	20,406		25,051		44,339		61,796
Write-offs	(552)		(22,552)		$	(552)	$	(58,136)
Ending balance	$	60,909	$	37,752	$	60,909	$	37,752