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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net loss $ (178,566) $ (2,067,948)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 110,157 113,721
Investment impairment expense 9,062 70,866
Other impairment expense 10,069 9,071
Stock-based compensation expense 616,785 1,135,078
Restructuring stock-based compensation expense 84,042 0
Provision for transaction losses and doubtful accounts 10,356 (7,599)
Loss on disposal of property and equipment 7,567 0
Deferred income taxes (50,217) (444,225)
Unrealized loss on foreign exchange 17,314 192,253
Fair value gain on foreign exchange derivatives 0 (22,935)
Non-cash lease expense 37,271 23,374
Change in fair value of contingent consideration 436 (7,175)
(Gain) loss on investments (49,301) 1,118
Fair value (gain) loss on derivatives (14,332) 3,351
Amortization of debt discount and issuance costs 6,665 7,042
Gain on extinguishment of long-term debt, net (99,446) 0
Realized loss on crypto futures contract 43,339 0
Crypto asset impairment expense 77,151 689,077
Crypto assets received as revenue (299,304) (376,990)
Crypto asset payments for expenses 185,149 332,897
Realized gain on crypto assets (110,610) (34,274)
Changes in operating assets and liabilities:    
USDC 464,728 (298,236)
Accounts and loans receivable 81,317 (21,520)
Deposits in transit (28,055) 53,731
Income taxes, net (157) 4,785
Other current and non-current assets 21,244 (104,801)
Accounts payable (18,745) 24,667
Lease liabilities (36,045) (7,758)
Other current and non-current liabilities 30,263 (107,553)
Net cash provided by (used in) operating activities 928,137 (839,983) Close
Cash flows from investing activities    
Purchase of property and equipment (533) (3,747)
Proceeds from sale of property and equipment 275 0
Capitalized internal-use software development costs (51,638) (47,831)
Business combinations, net of cash acquired (30,730) (186,150)
Purchase of investments (8,459) (57,716)
Proceeds from settlement of investments 3,266 1,497
Loans originated (348,252) (189,137)
Proceeds from repayment of loans 242,384 290,928
Assets pledged as collateral (18,295) 0
Assets pledged as collateral returned 55,989 0
Settlement of crypto futures contract (43,339) 0
Purchase of crypto assets held (150,827) (1,339,689)
Disposal of crypto assets held 265,042 894,147
Net cash used in investing activities (85,117) (637,698) Close
Cash flows from financing activities    
Issuance of common stock upon exercise of stock options, net of repurchases 27,653 40,978
Taxes paid related to net share settlement of equity awards (183,962) (268,746)
Proceeds received under the ESPP 14,254 16,064
Other financing activities 0 3,679
Customer custodial cash liabilities (1,349,666) (3,977,293)
Repayment of long-term debt (222,664) 0
Assets received as collateral 5,324 0
Assets received as collateral returned (4,585) 0
Proceeds from short-term borrowings 31,640 149,400
Repayments of short-term borrowings (52,122) (170,000)
Net cash used in financing activities (1,734,128) (4,205,918) Close
Net decrease in cash, cash equivalents, and restricted cash (891,108) (5,683,599) Close
Effect of exchange rates on cash, cash equivalents, and restricted cash (27,353) (376,261)
Cash, cash equivalents, and restricted cash, beginning of period 9,429,646 17,680,662
Cash, cash equivalents, and restricted cash, end of period 8,511,185 11,620,802
Cash, cash equivalents, and restricted cash consisted of the following:    
Cash and cash equivalents 5,100,799 5,006,584
Restricted cash 26,319 23,113
Customer custodial funds 3,384,067 6,591,105
Total cash, cash equivalents, and restricted cash 8,511,185 11,620,802
Supplemental disclosure of cash flow information    
Cash paid during the period for interest 42,913 43,630
Cash paid during the period for income taxes 19,676 17,762
Operating cash outflows for amounts included in the measurement of operating lease liabilities 11,173 10,845
Supplemental schedule of non-cash investing and financing activities    
Unsettled purchases of property and equipment 0 177
Right-of-use assets obtained in exchange for operating lease obligations 447 3,059
Non-cash consideration paid for business combinations 51,494 324,925
Purchase of crypto assets and investments with non-cash consideration 11,234 17,898
Disposal of crypto assets and investments for non-cash consideration 8,616 0
Redemption of investments with non-cash consideration 0 5,000
Crypto assets borrowed 399,460 728,490
Crypto assets borrowed repaid with crypto assets 437,254 1,182,479
Crypto loans originated 409,027 0
Crypto loans repaid 446,095 0
Realized gain on crypto assets held as investments 48,491 0
Non-cash assets pledged as collateral 128,587 0
Non-cash assets pledged as collateral returned 140,818 0
Non-cash assets received as collateral 242,883 0
Non-cash assets received as collateral returned $ 237,681 $ 0