CUSTOMER ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of customers' cash and crypto positions

The following table presents customers’ cash and crypto positions (in thousands):


	December 31,
	2022		2021
Customer custodial funds	$	5,041,119	$	10,617,552
Customer crypto assets(1)	75,413,188		—
Total customer assets	80,454,307		10,617,552

Customer custodial cash liabilities	$	4,829,587	$	10,480,612
Customer crypto liabilities(1)	75,413,188		—
Total customer liabilities	80,242,775		10,480,612

__________________

(1)The Company adopted SAB 121 as of January 1, 2022. Prior to 2022, the Company did not record customer crypto assets and liabilities on its consolidated balance sheets.

Schedule of crypto safeguarding indemnification asset and crypto asset safeguarding liability

The following table sets forth the fair value of customer crypto assets, as shown on the consolidated balance sheets, as customer crypto assets and customer crypto liabilities, as of December 31, 2022 (in billions):


	Fair Value		Percentage of Total(1)
Bitcoin	$	32.5	43.1	%
Ethereum(2)	20.8		27.6	%
USDC	1.1		1.4	%
Other crypto assets	21.0		27.9	%
Total customer crypto assets	$	75.4	100.0	%

__________________

(1)As of December 31, 2022, no assets other than Bitcoin and Ethereum individually represented more than 5% of total customer crypto assets.

(2)As of December 31, 2022, Ethereum included $3.0 billion of Ethereum 2.