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INVESTMENTS AND FAIR VALUE MEASUREMENT (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Held-to-Maturity Investments The following table summarizes our held-to-maturity investments as of December 31, 2023:
December 31, 2023
(in millions)Amortized CostAllowance for Credit LossesUnrealized GainsUnrealized LossesFair Value
Debt securities:
Corporate debt securities$205 $— $— $(1)$204 
U.S. Treasury securities202 — — — 202 
U.S. government agency securities42 — — — 42 
Certificates of deposit34 — — — 34 
Commercial paper3 — — — 3 
Total held-to-maturity investments$486 $— $— $(1)$485 
Schedule of Amortized Cost and Fair Value of Held-to-Maturity Investments by Contractual Maturity Date
The table below presents the amortized cost and fair value of held-to-maturity investments by contractual maturity; the maximum maturity is two years:
December 31, 2023
(in millions)Within 1 Year1 to 2 YearsTotal
Amortized cost
Debt securities:
Corporate debt securities$153 $52 $205 
U.S. Treasury securities184 18 202 
U.S. government agency securities39 3 42 
Certificates of deposit34 — 34 
Commercial paper3 — 3 
Total held-to-maturity investments$413 $73 $486 
Fair value
Debt securities:
Corporate debt securities$152 $52 $204 
U.S. Treasury securities184 18 202 
U.S. government agency securities39 3 42 
Certificates of deposit34 — 34 
Commercial paper3 — 3 
Total held-to-maturity investments$412 $73 $485 
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, 2022
(in millions)Level 1Level 2Level 3Total
Assets
Cash equivalents:
Money market funds$735 $— $— $735 
Other current assets:
Equity securities - securities owned8 — — 8 
Commercial paper— 5 — 5 
Government bonds3 — — 3 
Corporate bonds— 2 — 2 
Asset related to user cryptocurrencies safeguarding obligation— 8,431 — 8,431 
User-held fractional shares997 — — 997 
Total financial assets$1,743 $8,438 $— $10,181 
Liabilities
User cryptocurrencies safeguarding obligation$— $8,431 $— $8,431 
Fractional shares repurchase obligations997 — — 997 
Total financial liabilities$997 $8,431 $— $9,428 
December 31, 2023
(in millions)Level 1Level 2Level 3Total
Assets
Cash equivalents:
Time deposit$— $500 $— $500 
Money market funds146 — — 146 
Deposits with clearing organizations:
U.S. Treasury securities50 — — 50 
Other current assets:
Stablecoin20 — — 20 
Equity securities - securities owned10 — — 10 
Other non-current assets:
Money market funds - escrow account2 — — 2 
Asset related to user cryptocurrencies safeguarding obligation— 14,708 — 14,708 
User-held fractional shares1,592 — — 1,592 
Total financial assets$1,820 $15,208 $— $17,028 
Liabilities
User cryptocurrencies safeguarding obligation$— $14,708 $— 14,708 
Fractional shares repurchase obligations1,592 — — 1,592 
Total financial liabilities$1,592 $14,708 $— $16,300 
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis The fair value for certain financial instruments that are not required to be measured or reported at fair value was presented on our consolidated balance sheets as follows:
December 31, 2023
(in millions)Level 1Level 2Level 3Total
Assets
Held-to-maturity investments:
Corporate debt securities$— $204 $— $204 
U.S. Treasury securities202 — — 202 
U.S. government agency securities— 42 — 42 
Certificates of deposit— 34 — 34 
Commercial paper— 3 — 3 
Total held-to-maturity investments$202 $283 $— $485 
Schedule of Safeguarded Cryptocurrencies
Safeguarded user cryptocurrencies were as follows:
Year Ended December 31,
(in millions)20222023
Bitcoin (BTC)$2,327 $6,149 
Ethereum (ETH)2,341 3,761 
Dogecoin (DOGE)2,802 3,319 
Other961 1,479 
Total user cryptocurrencies safeguarding obligation and corresponding asset$8,431 $14,708