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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 5,139,351 $ 4,425,021
Restricted cash 22,992 25,873
Customer custodial funds 4,570,845 5,041,119
Safeguarding customer crypto assets 192,583,060 75,413,188
USDC 576,028 861,149
Accounts and loans receivable, net of allowance 361,715 404,376
Income tax receivable 63,726 60,441
Prepaid expenses and other current assets 148,814 217,048
Total current assets 203,466,531 86,448,215
Crypto assets held 449,925 424,393
Deferred tax assets 1,272,233 1,046,791
Lease right-of-use assets 12,737 69,357
Property and equipment, net 192,550 171,853
Goodwill 1,139,670 1,073,906
Intangible assets, net 86,422 135,429
Other non-current assets 362,885 354,929
Total assets 206,982,953 89,724,873 Close
Current liabilities:    
Customer custodial cash liabilities 4,570,845 4,829,587
Safeguarding customer crypto liabilities 192,583,060 75,413,188
Accounts payable 39,294 56,043
Accrued expenses and other current liabilities 447,050 331,236
Crypto asset borrowings 62,980 151,505
Lease liabilities, current 10,902 33,734
Total current liabilities 197,714,131 80,815,293
Lease liabilities, non-current 3,821 42,044
Long-term debt 2,979,957 3,393,448
Other non-current liabilities 3,395 19,531
Total liabilities 200,701,304 84,270,316 Close
Commitments and contingencies (Note 22)
Preferred stock, $0.00001 par value; 500,000 shares authorized and zero shares issued and outstanding at December 31, 2023 and 2022, respectively 0 0 Close
Stockholders’ equity:    
Additional paid-in capital 4,491,571 3,767,686
Accumulated other comprehensive loss (30,270) (38,606)
Retained earnings 1,820,346 1,725,475
Total stockholders’ equity 6,281,649 5,454,557 Close
Total liabilities and stockholders’ equity 206,982,953 89,724,873
Class A common stock    
Stockholders’ equity:    
Common stock 2 2
Class B common stock    
Stockholders’ equity:    
Common stock $ 0 $ 0