XML 33 R12.htm IDEA: XBRL DOCUMENT v3.25.1
Stable Coins
 12 Months Ended
Dec. 31, 2024
Stable Coins [Abstract]  
STABLE COINS

5. STABLE COINS

 

Stable coins were comprised of the following:

 

   December 31,   December 31, 
   2024   2023 
USDC  $
         -
   $254,400 

 

As of December 31, 2024 and 2023, the Company held nil and 254,400 USDC, respectively. The fair value of USDC were kept at $1.00 because one USDC is pegged to one U.S. dollar.

 

The following table presents additional information about USDC for the years ended December 31, 2024, 2023 and 2022:

 

   For the Years Ended December 31, 
   2024   2023   2022 
Opening balance  $254,400   $2,972,000   $
-
 
Collection of USDC from subscription fee from investors   
-
    300,000    3,093,000 
Collection of USDC from other services   
-
    6,800    
-
 
Purchases of USDC   610,000    139,900    
-
 
Collection of USDC from exchange of digital assets   2,391,700    595,000    446,600 
Investment in an equity-method investee in USDC   
-
    (300,000)   
-
 
Exchange of USDC into digital assets   (1,740,400)   (2,894,400)   
-
 
Exchange of USDC into cash   (1,500,000)   
-
    
-
 
Payment of service fees and other expenses   (15,700)   (564,900)   (567,600)
Ending balance  $
-
   $254,400   $2,972,000