v3.22.4
PREPAID EXPENSES AND OTHER ASSETS (Tables)
 12 Months Ended
Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of prepaid expenses and other current and non-current assets
Prepaid expenses and other current assets, and other non-current assets consisted of the following (in thousands):
December 31,
20222021
Prepaid expenses and other current assets
Prepaid expenses$98,204 $123,246 
Deposits— 9,658 
Assets pledged as collateral100,007 — 
Other18,837 2,945 
Total prepaid expenses and other current assets$217,048 $135,849 
Other non-current assets
Strategic investments$326,683 $363,950 
Deferred tax assets1,046,791 573,547 
Deposits10,989 13,347 
Other17,257 1,463 
Total other non-current assets$1,401,720 $952,307 
Schedule of collateral posted and received
As of December 31, 2022, the balance of the Company’s pledged collateral consisted of the following (in thousands, except units):
December 31, 2022
UnitsFair Value
Asset
USDC47,633,897 $47,634 
Bitcoin650 10,743 
FiatN/A41,630 
Total$100,007 
Schedule of other investments accounted for under the measurement alternative The changes in the carry value of strategic investments accounted for under the measurement alternative are presented below (in thousands):
Year Ended December 31,
20222021
Carrying amount, beginning of period$352,431 $26,146 
Net additions(1)
62,975 320,316 
Upward adjustments900 8,019 
Previously held interest in Bison Trails (see Note 4)— (2,000)
Impairments and downward adjustments(101,021)(50)
Carrying amount, end of period(2)
$315,285 $352,431 
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(1)Net additions include additions from purchases and reductions due to exits of securities and reclassifications due to changes to capital structure.
(2)Excludes $11.4 million and $11.5 million of strategic investments during the years ended December 31, 2022 and 2021, respectively, that are not accounted for under the measurement alternative.