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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income (loss) $ 1,176,245 $ (78,896)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 29,327 41,208
Stock-based compensation expense 224,504 198,860
Restructuring stock-based compensation expense 0 84,042
Deferred income taxes 214,361 (84,169)
Unrealized (gain) loss on foreign exchange (992) 8,428
Non-cash lease expense 2,793 12,215
Fair value gains on crypto assets borrowed and borrowings (2,944) (3,199)
Gains on crypto assets held as investments and operations (736,787) (84,685)
Realized loss on crypto futures contract 0 43,339
Crypto asset impairment expense (prior to ASU 2023-08) 0 28,935
Other operating activities, net (21,020) (18,327)
Net changes in operating assets and liabilities (474,002) 315,327
Net cash provided by operating activities 411,485 463,078 Close
Cash flows from investing activities    
Fiat loans originated (416,405) (65,611)
Proceeds from repayment of fiat loans 254,600 31,779
Purchase of crypto assets held for investment (135) (53,223)
Sale of crypto assets held for investment 51,659 110,776
Settlement of crypto futures contract 0 (43,339)
Other investing activities, net (15,400) (6,462)
Net cash used in investing activities (125,681) (26,080) Close
Cash flows from financing activities    
Issuance of common stock upon exercise of stock options, net of repurchases 44,216 8,873
Taxes paid related to net share settlement of equity awards (117,225) (62,497)
Proceeds received under the ESPP 5,460 4,562
Customer custodial cash liabilities 645,938 528,959
Issuance of convertible senior notes, net 1,246,025 0
Purchase of capped calls (104,110) 0
Fiat received as collateral 340,296 3,117
Fiat received as collateral returned (132,879) (2,403)
Other financing activities 0 (20,482)
Net cash provided by financing activities 1,927,721 460,129 Close
Net increase in cash, cash equivalents, and restricted cash 2,213,525 897,127 Close
Effect of exchange rates on cash, cash equivalents, and restricted cash (21,186) 11,377
Cash, cash equivalents, and restricted cash, beginning of period 9,555,448 9,429,646
Cash, cash equivalents, and restricted cash, end of period 11,747,787 10,338,150
Supplemental disclosure of cash flow information    
Cash paid during the period for interest 0 74
Cash paid during the period for income taxes 5,528 5,322
Operating cash outflows for amounts included in the measurement of operating lease liabilities $ 3,140 $ 4,668