
	December 31, 2023
	Level 1			Level 2			Level 3			Total
Assets
Cash equivalents:
Money market funds	$	250,055	(1)	$	—		$	—		$	250,055
Other current assets:
Digital assets held for users	—			46,624		(2)	—			$	46,624
Other non-current assets:
Derivative instruments	—			—			19,999		(5)	$	19,999
Equity securities	—			13,533		(4)	—			13,533
Total	$	250,055		$	60,157		$	19,999		$	330,211

Liabilities
Other current liabilities:
Digital assets held for users	$	—		$	46,624	(2)	$	—		$	46,624
Warrant liabilities	—			63,568		(6)	—			63,568
Total	$	—		$	110,192		$	—		$	110,192


	December 31, 2022
	Level 1			Level 2			Level 3			Total
Assets
Cash equivalents:
Money market funds	$	304,216	(1)	$	—		$	—		$	304,216
Other current assets:
Digital assets held for users	—			38,444		(2)	—			38,444
Other non-current assets:
Derivative instruments	—			—			26,248		(5)	26,248
Equity securities	18,250		(3)	13,533		(4)	—			31,783

Total	$	322,466		$	51,977		$	26,248		$	400,691

Liabilities
Other current liabilities:
Digital assets held for users	$	—		$	38,444	(2)	$	—		$	38,444
Warrant liabilities	—			10,680		(6)	—			10,680
Total	$	—		$	49,124		$	—		$	49,124

(2)Represents the asset and liability balance for the digital assets held by the Company for its users, which are classified as Level 2 because the Company measures these digital assets to fair value using latest transaction price for similar transactions.

(4)Represents the Company’s non-marketable equity securities, which are classified as Level 2 because the Company measures these assets to fair value using observable inputs for similar investments of the same issuer. The Company has elected the remeasurement alternative for these assets.

(5)Represents the Company’s derivative instruments held in other public and privately held entities. The Company measures these derivative instruments to fair value using option pricing models and, accordingly, classifies these assets as Level 3.

For the year ended December 31, 2023, the Company sold Level 3 derivative instruments with a fair value at December 31, 2022 of $6.3 million for proceeds of $5.2 million and recorded loss of $0.1 million related to this sale. There were no new Level 3 derivative instruments purchased by or issued to the Company for the year ended December 31, 2023. During 2022, the Company did not purchase or issue a significant amount of new derivative instruments. The table below includes a range and an average weighted by relative fair value of the significant unobservable inputs used to measure these Level 3 derivative instruments to fair value. A change in these significant unobservable inputs might result in a significantly higher or lower fair value measurement at the reporting date. Changes to fair value of these instruments are recorded in Other (loss) income, net on the consolidated statements of operations and Loss (gain) on marketable equity securities and other financial assets, net in the consolidated statement of cash flows.


	December 31, 2023	December 31, 2022
	Range (Weighted Average)	Range (Weighted Average)
Significant Unobservable Input of Level 3 Investments	(amounts in dollars)	(amounts in dollars)
Underlying stock price of Level 3 investments	$12.79 - $19.80 ($19.41)	$7.30 - $19.80 ($16.53)
Volatility of Level 3 investments	75.0% - 80.0% (79.7%)	56.0% - 80.0% (74.1%)
Risk-free rate of Level 3 investments	1.3% - 4.2% (4.0%)	1.3% - 4.3% (4.1%)

(6)The Company measures its Private Warrants and the GNOG Private Warrants to fair value using a binomial lattice model or a Black-Scholes model, where appropriate, with the significant assumptions being observable inputs and, accordingly, classifies these liabilities as Level 2. Key assumptions used in the valuation of the Private Warrants and GNOG Private Warrants include term, risk free rate and volatility. See Note 7 Current and Long-term Liabilities and Note 13 Loss Per Share for further information on the Company’s warrant liabilities.