v3.23.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 5,459 $ 6,339
Cash segregated under federal and other regulations 4,213 2,995
Receivables from brokers, dealers, and clearing organizations 112 76
Receivables from users, net 3,152 3,218
Securities borrowed 844 517
Deposits with clearing organizations 247 186
Asset related to user cryptocurrencies safeguarding obligation 11,489 8,431
User-held fractional shares 1,217 997
Held-to-maturity investments 290 0
Prepaid expenses 90 86
Other current assets 75 72
Total current assets 27,188 22,917
Property, software, and equipment, net 137 146
Goodwill 100 100
Intangible assets, net 23 25
Non-current held-to-maturity investments 195 0
Non-current prepaid expenses 11 17
Other non-current assets 131 132
Total assets 27,785 23,337
Current liabilities:    
Accounts payable and accrued expenses 203 185
Payables to users 4,986 4,701
Securities loaned 2,609 1,834
User cryptocurrencies safeguarding obligation 11,489 8,431
Fractional shares repurchase obligation 1,217 997
Other current liabilities 113 105
Total current liabilities 20,617 16,253
Other non-current liabilities 122 128
Total liabilities 20,739 16,381
Commitments and contingencies (Note 13)
Stockholders’ equity:    
Preferred stock, $0.0001 par value. 210,000,000 shares authorized, no shares issued and outstanding as of December 31, 2022 and March 31, 2023. 0 0
Additional paid-in capital 12,462 11,861
Accumulated deficit (5,416) (4,905)
Total stockholders’ equity 7,046 6,956
Total liabilities and stockholders’ equity 27,785 23,337
Common Class A    
Stockholders’ equity:    
Common stock, value 0 0
Common Class B    
Stockholders’ equity:    
Common stock, value 0 0
Common Class C    
Stockholders’ equity:    
Common stock, value $ 0 $ 0