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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 6,711,400 $ 5,139,351
Restricted cash 33,499 22,992
Customer custodial funds 5,201,906 4,570,845
Safeguarding customer crypto assets 329,506,477 192,583,060
USDC 860,669 576,028
Loan receivables 529,143 193,425
Crypto assets held as collateral 106,610 0
Crypto assets held as collateral   0
Crypto assets borrowed 231,348 45,212
Accounts receivable, net 280,357 168,290
Other current assets 379,537 286,643
Total current assets 343,840,946 203,585,846
Crypto assets held for investment 1,522,328  
Crypto assets held for investment   330,610
Deferred tax assets 879,671 1,272,233
Goodwill 1,139,670 1,139,670
Other non-current assets 653,862 654,594
Total assets 348,036,477 206,982,953 Close
Current liabilities:    
Customer custodial cash liabilities 5,201,906 4,570,845
Safeguarding customer crypto liabilities 329,506,477 192,583,060
Crypto asset borrowings 272,805  
Crypto asset borrowings   62,980
Obligation to return collateral 315,090 1,063
Accrued expenses and other current liabilities 438,321 496,183
Total current liabilities 335,734,599 197,714,131
Long-term debt 4,225,014 2,979,957
Other non-current liabilities 5,870 7,216
Total liabilities 339,965,483 200,701,304 Close
Commitments and contingencies (Note 19)
Preferred stock, $0.00001 par value; 500,000 shares authorized and zero shares issued and outstanding at each of March 31, 2024 and December 31, 2023 0 0
Stockholders’ equity:    
Additional paid-in capital 4,550,408 4,491,571
Accumulated other comprehensive loss (37,496) (30,270)
Retained earnings 3,558,080 1,820,346
Total stockholders’ equity 8,070,994 6,281,649 Close
Total liabilities and stockholders’ equity 348,036,477 206,982,953
Class A common stock    
Stockholders’ equity:    
Common stock 2 2
Class B common stock    
Stockholders’ equity:    
Common stock $ 0 $ 0