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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 56,600 $ 52,882
Restricted cash 44,008 31,838
Customer funds 88,165 32,925
Available-for-sale securities 18,012 17,398
Accounts receivable, net 37,157 29,664
Prepaid insurance 9,173 13,049
Safeguarding asset for crypto 1,233,238 701,556
Other current assets 3,995 3,332
Total current assets 1,490,348 882,644
Property, equipment and software, net 1,509 60
Goodwill 68,001 68,001
Intangible assets, net 2,900 2,900
Other assets 12,773 13,262
Total assets 1,575,531 966,867
Current liabilities:    
Accounts payable and accrued liabilities 62,717 55,379
Customer funds payable 88,165 32,925
Deferred revenue, current 3,295 4,282
Safeguarding obligation for crypto 1,233,238 701,556
Unsettled crypto trades 4,549 996
Total current liabilities 1,398,303 802,074
Deferred revenue, noncurrent 2,858 3,198
Warrant liability 21,006 2,356
Other noncurrent liabilities 22,481 23,525
Total liabilities 1,444,648 831,153
Commitments and contingencies (Note 14)
Additional paid-in capital 816,768 799,683
Accumulated other comprehensive loss (321) (101)
Accumulated deficit (759,466) (751,301)
Total stockholders’ equity 56,983 48,282
Noncontrolling interest 73,900 87,432
Total equity 130,883 135,714
Total liabilities and stockholders’ equity 1,575,531 966,867
Related Party    
Current liabilities:    
Other current liabilities 2,510 3,230
Nonrelated Party    
Current liabilities:    
Other current liabilities 3,829 3,706
Class A Common Stock    
Current liabilities:    
Common stock, value 1 0
Class V Common Stock    
Current liabilities:    
Common stock, value $ 1 $ 1