INVESTMENTS AND FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Debt Securities, Available-for-sale

Investments are included in other current assets on the consolidated balance sheet and consisted of the following:

	December 31, 2021
(in millions)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Debt securities:
Asset-backed securities	$	5	$	—	$	—	$	5
Commercial paper	14		—		—		14
Corporate bonds	7		—		—		7
Government bonds	1		—		—		1
Total investments	$	27	$	—	$	—	$	27

	December 31, 2022
(in millions)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Debt securities:
Commercial paper	5		—		—		5
Corporate bonds	2		—		—		2
Government bonds	3		—		—		3
Total investments	$	10	$	—	$	—	$	10

Schedule Of Financial Assets and Liabilities Measured At Fair Value On A Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis as of the date indicated below were presented on our consolidated balance sheets as follows:

	December 31, 2021
(in millions)	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	4,004	$	—	$	—	$	4,004
Other current assets:
Asset-backed securities	—		5		—		5
Commercial paper	—		14		—		14
Corporate bonds	—		7		—		7
Government bonds	1		—		—		1
Equity securities - securities owned	14		—		—		14
User-held fractional shares	1,834		—		—		1,834
Total financial assets	$	5,853	$	26	$	—	$	5,879
Liabilities
Fractional share repurchase obligations	$	1,834	$	—	$	—	$	1,834
Total financial liabilities	$	1,834	$	—	$	—	$	1,834

	December 31, 2022
(in millions)	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	735	$	—	$	—	$	735
Other current assets:
Commercial paper	—		5		—		5
Corporate bonds	—		2		—		2
Government bonds	3		—		—		3
Equity securities - securities owned	8		—		—		8
Asset related to user cryptocurrencies safeguarding obligation	—		8,431		—		8,431
User-held fractional shares	997		—		—		997
Total financial assets	$	1,743	$	8,438	$	—	$	10,181
Liabilities
User cryptocurrencies safeguarding obligation	$	—	$	8,431	$	—	8,431
Fractional share repurchase obligations	997		—		—		997
Total financial liabilities	$	997	$	8,431	$	—	$	9,428

Fair Value, Liabilities Measured on Recurring Basis

Safeguarded user cryptocurrencies were as follows:

(in millions)	December 31, 2022
Dogecoin (DOGE)	$	2,802
Ethereum (ETH)	2,341
Bitcoin (BTC)	2,327
Other	961
Total user cryptocurrencies safeguarding obligation and corresponding asset	$	8,431

Schedule Of Changes In Estimated Fair Value Of Convertible Notes And Warrant Liability

The following table sets forth a summary of the changes in the estimated fair value of our convertible notes and warrant liability:

	Year Ended December 31, 2021
(in millions)	Convertible notes(2)		Warrant liability
Beginning balance	$	—	$	—
Issued during the period	3,299		253
Change in fair value(1)	1,919		127
Reclassifications to equity	(5,218)		(380)
Ending balance	$	—	$	—

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(1)We have elected to present the component related to accrued interest in the change in fair value of convertible notes and warrant liability.

(2)None of the expense recorded due to changes in fair value for the convertible notes was attributable to the change in the instrument-specific credit risk.