ALLOWANCE FOR CREDIT LOSSES (Tables)

9 Months Ended

Sep. 30, 2023

Credit Loss [Abstract]

Schedule of Allowance for Credit Losses Receivable

The following table summarizes the allowance for credit losses as a reduction of receivables from users, net on the unaudited condensed consolidated balance sheet:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2022		2023		2022		2023
Beginning balance	$	18	$	20	$	40	$	18
Provision for credit losses	9		4		28		19
Write-offs	(9)		(7)		(50)		(20)
Ending balance	$	18	$	17	$	18	$	17

The following table summarizes the credit card expected loss liability, a new liability in this quarter, as part of accounts payable and accrued expenses on the unaudited condensed consolidated balance sheet:

	Three and Nine Months Ended September 30,
(in millions)	2023
Beginning balance	$	—
Opening balance from acquisition of Robinhood Credit	16
Provision for credit losses	10
Payments to Coastal Bank	(4)
Ending balance	$	22