CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating activities:
Net loss	$ (511)	$ (392)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	20	12
Provision for credit losses	9	8
Share-based compensation	598	220
Other	5	0
Changes in operating assets and liabilities:
Receivables from brokers, dealers, and clearing organizations	(36)	(36)
Receivables from users, net	57	1,417
Securities borrowed	(327)	0
Deposits with clearing organizations	(61)	34
Current and non-current prepaid expenses	2	26
Other current and non-current assets	(8)	(24)
Accounts payable and accrued expenses	18	(2)
Payables to users	285	673
Securities loaned	775	(1,500)
Other current and non-current liabilities	2	1
Net cash provided by operating activities	828	437
Investing activities:
Purchase of property, software, and equipment	0	(13)
Capitalization of internally developed software	(5)	(8)
Purchase of available-for-sale investments	0	(14)
Proceeds from maturities of available-for-sale investments	9	1
Purchase of held-to-maturity investments	(485)	0
Net cash used in investing activities	(481)	(34)
Financing activities:
Taxes paid related to net share settlement of equity awards	(2)	(3)
Payments of debt issuance costs	(10)	0
Draws on credit facilities	0	11
Repayments on credit facilities	0	(11)
Proceeds from exercise of stock options, net of repurchases	1	3
Net cash provided by (used in) financing activities	(11)	0
Effect of foreign exchange rate changes on cash and cash equivalents	0	0
Net increase in cash, cash equivalents, segregated cash and restricted cash	336	403
Cash, cash equivalents, segregated cash and restricted cash, beginning of the period	9,357	10,270
Cash, cash equivalents, segregated cash and restricted cash, end of the period	9,693	10,673
Cash and cash equivalents, end of the period	5,459	6,191
Segregated cash, end of the period	4,213	4,458
Restricted cash (current and non-current), end of the period	21	24
Cash, cash equivalents, segregated cash and restricted cash, end of the period	9,693	10,673
Supplemental disclosures:
Cash paid for interest	3	3
Cash paid for income taxes, net of refund received	$ 0	$ 1