v3.22.4
ACCOUNTS AND LOANS RECEIVABLE, NET OF ALLOWANCE
 12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
ACCOUNTS AND LOANS RECEIVABLE, NET OF ALLOWANCE ACCOUNTS AND LOANS RECEIVABLE, NET OF ALLOWANCE
Accounts and loans receivable, net of allowance consisted of the following (in thousands):
December 31,
20222021
Trade finance receivables$— $1,865 
Custodial fee revenue receivable8,434 23,727 
Loans receivable98,203 218,461 
Crypto asset loan receivables85,826 — 
Interest and other receivables(1)
223,413 85,204 
Allowance for doubtful accounts(2)
(11,500)(24,551)
Total accounts and loans receivable, net of allowance$404,376 $304,706 
__________________
(1)Includes accounts receivables denominated in crypto assets of $6.9 million and $26.4 million as of December 31, 2022 and 2021, respectively. See Note 14. Derivatives for additional details.
(2)Includes provision for transaction losses of $3.2 million and $16.8 million as of December 31, 2022 and 2021, respectively.

Loans receivable
The Company issues fiat loans to consumers and institutions. As of December 31, 2022 and 2021, the Company had issued loans with an outstanding balance of $98.2 million and $218.5 million, respectively. The related interest receivable on the loans as of December 31, 2022 and 2021, was $0.7 million and $1.3 million, respectively.
The amounts loaned are collateralized with crypto assets held by the borrower in their crypto asset wallet on the Company’s platform. The Company does not have the right to use such collateral unless the borrower defaults on the loans. Due to the collateral requirements, the Company's process for collateral maintenance, and collateral held on platform, the Company’s credit exposure is significantly limited and no allowance was recorded against these loans receivable. The loans are measured at amortized cost. The carrying value of the loans approximates their fair value due to their short-term duration of less than 12 months. As of December 31, 2022 and 2021, there were no loans receivable past due. See Note 12. Accrued Expenses and Other Current Liabilities, for additional details regarding the Company’s obligation to return collateral.
Crypto asset loan receivables
The Company enters into transactions where it lends crypto assets to unaffiliated institutional customers. The Company evaluates the crypto asset loan receivables for credit loss. Due to the collateral requirements, the Company's process for collateral maintenance, and collateral held on platform, the Company’s credit exposure is significantly limited and no allowance, write-offs or recoveries were recorded against these crypto asset loan receivables as of and during the years ended December 31, 2022, 2021 and 2020. As of December 31, 2022 and 2021, there were no crypto asset loan receivables past due.
The Company requires that borrowers pledge assets as collateral for those loans. See Note 12. Accrued Expenses and Other Current Liabilities, for additional details regarding the Company’s obligation to return collateral.
ACCOUNTS AND LOANS RECEIVABLE, NET OF ALLOWANCE ACCOUNTS AND LOANS RECEIVABLE, NET OF ALLOWANCE
Accounts and loans receivable, net of allowance consisted of the following (in thousands):
December 31,
20222021
Trade finance receivables$— $1,865 
Custodial fee revenue receivable8,434 23,727 
Loans receivable98,203 218,461 
Crypto asset loan receivables85,826 — 
Interest and other receivables(1)
223,413 85,204 
Allowance for doubtful accounts(2)
(11,500)(24,551)
Total accounts and loans receivable, net of allowance$404,376 $304,706 
__________________
(1)Includes accounts receivables denominated in crypto assets of $6.9 million and $26.4 million as of December 31, 2022 and 2021, respectively. See Note 14. Derivatives for additional details.
(2)Includes provision for transaction losses of $3.2 million and $16.8 million as of December 31, 2022 and 2021, respectively.

Loans receivable
The Company issues fiat loans to consumers and institutions. As of December 31, 2022 and 2021, the Company had issued loans with an outstanding balance of $98.2 million and $218.5 million, respectively. The related interest receivable on the loans as of December 31, 2022 and 2021, was $0.7 million and $1.3 million, respectively.
The amounts loaned are collateralized with crypto assets held by the borrower in their crypto asset wallet on the Company’s platform. The Company does not have the right to use such collateral unless the borrower defaults on the loans. Due to the collateral requirements, the Company's process for collateral maintenance, and collateral held on platform, the Company’s credit exposure is significantly limited and no allowance was recorded against these loans receivable. The loans are measured at amortized cost. The carrying value of the loans approximates their fair value due to their short-term duration of less than 12 months. As of December 31, 2022 and 2021, there were no loans receivable past due. See Note 12. Accrued Expenses and Other Current Liabilities, for additional details regarding the Company’s obligation to return collateral.
Crypto asset loan receivables
The Company enters into transactions where it lends crypto assets to unaffiliated institutional customers. The Company evaluates the crypto asset loan receivables for credit loss. Due to the collateral requirements, the Company's process for collateral maintenance, and collateral held on platform, the Company’s credit exposure is significantly limited and no allowance, write-offs or recoveries were recorded against these crypto asset loan receivables as of and during the years ended December 31, 2022, 2021 and 2020. As of December 31, 2022 and 2021, there were no crypto asset loan receivables past due.
The Company requires that borrowers pledge assets as collateral for those loans. See Note 12. Accrued Expenses and Other Current Liabilities, for additional details regarding the Company’s obligation to return collateral.