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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 7,225,535 $ 5,139,351
Restricted cash and cash equivalents 34,282 22,992
Customer custodial funds 4,197,837 4,570,845
Safeguarding customer crypto assets 269,198,067 192,583,060
USDC 1,056,648 576,028
Loan receivables 440,351 193,425
Crypto assets held as collateral 21,119 0
Crypto assets held as collateral   0
Crypto assets borrowed 223,123 45,212
Accounts receivable, net 236,444 168,290
Other current assets 253,226 286,643
Total current assets 282,886,632 203,585,846
Crypto assets held for investment 1,234,158  
Crypto assets held for investment   330,610
Deferred tax assets 1,010,154 1,272,233
Goodwill 1,139,670 1,139,670
Other non-current assets 688,559 654,594
Total assets 286,959,173 206,982,953 Close
Current liabilities:    
Customer custodial cash liabilities 4,197,837 4,570,845
Safeguarding customer crypto liabilities 269,198,067 192,583,060
Crypto asset borrowings 237,474 62,980
Obligation to return collateral 272,171 1,063
Accrued expenses and other current liabilities 448,170 496,183
Total current liabilities 274,353,719 197,714,131
Long-term debt 4,228,019 2,979,957
Other non-current liabilities 6,666 7,216
Total liabilities 278,588,404 200,701,304 Close
Commitments and contingencies (Note 18.)
Stockholders’ equity:    
Preferred stock, $0.00001 par value; 500,000 shares authorized and zero shares issued and outstanding at each of June 30, 2024 and December 31, 2023 0 0
Additional paid-in capital 4,816,808 4,491,571
Accumulated other comprehensive loss (40,271) (30,270)
Retained earnings 3,594,230 1,820,346
Total stockholders’ equity 8,370,769 6,281,649 Close
Total liabilities and stockholders’ equity 286,959,173 206,982,953
Class A common stock    
Stockholders’ equity:    
Common stock 2 2
Class B common stock    
Stockholders’ equity:    
Common stock $ 0 $ 0