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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income (loss) $ 1,212,395 $ (176,301)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 63,828 78,190
Stock-based compensation expense 442,438 398,632
Deferred income taxes 83,961 (71,435)
Non-cash lease expense 5,575 34,173
Gains on crypto assets held for investment and operations, net (386,751)  
Gains on crypto assets held for investment and operations, net   (95,390)
Gains on crypto assets borrowed and borrowings, net (1,173) (13,930)
Restructuring stock-based compensation expense 0 84,042
Crypto asset impairment expense (prior to ASU 2023-08) 0 54,333
Realized loss on crypto futures contract 0 43,339
Crypto assets received as revenue (prior to ASU 2023-08) 0 (211,923)
Crypto asset payments for expenses (prior to ASU 2023-08) 0 135,002
Other operating activities, net 43,043 28,626
Net changes in operating assets and liabilities (567,634) 326,844
Net cash provided by operating activities 895,682 614,202 Close
Cash flows from investing activities    
Fiat loans originated (808,334) (144,283)
Proceeds from repayment of fiat loans 646,700 109,630
Purchase of crypto assets held for investment 0 (99,064)
Sale of crypto assets held for investment 52,425 188,026
Settlement of crypto futures contract 0 (43,339)
Other investing activities, net (35,083) (23,724)
Net cash used in investing activities (144,292) (12,754) Close
Cash flows from financing activities    
Issuance of common stock upon exercise of stock options, net of repurchases 69,521 16,649
Taxes paid related to net share settlement of equity awards (117,225) (115,392)
Customer custodial cash liabilities (357,657) (987,957)
Issuance of convertible senior notes, net 1,246,025 0
Repurchases of senior and convertible notes 0 (45,469)
Purchase of capped calls (104,110) 0
Fiat received as collateral 493,499 5,169
Fiat received as collateral returned (243,510) (3,766)
Other financing activities 7,445 (11,497)
Net cash provided by (used in) financing activities 993,988 (1,142,263) Close
Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents 1,745,378 (540,815) Close
Effect of exchange rates on cash, cash equivalents, and restricted cash and cash equivalents (25,923) (4,370)
Cash, cash equivalents, and restricted cash and cash equivalents, beginning of period 9,555,429 9,429,646
Cash, cash equivalents, and restricted cash and cash equivalents, end of period 11,274,884 8,884,461
Supplemental disclosure of cash flow information    
Cash paid during the period for interest 33,424 38,684
Cash paid during the period for income taxes 81,552 10,669
Operating cash outflows for amounts included in the measurement of operating lease liabilities $ 6,291 $ 7,559