v3.24.1.u1
REVENUE (Tables)
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of disaggregated revenue by source
The following table presents revenue of the Company disaggregated by revenue source (in thousands):
Three Months Ended March 31,
20242023
Net revenue
Transaction revenue
Consumer, net(1)
$935,212 $329,152 
Institutional, net85,392 22,311 
Other transaction revenue(1)
56,137 23,250 
Total transaction revenue1,076,741 374,713 
Subscription and services revenue
Stablecoin revenue197,317 198,898 
Blockchain rewards150,929 73,749 
Interest and finance fee income(2)
66,663 43,313 
Custodial fee revenue32,341 17,043 
Other subscription and services revenue(2)
63,686 28,682 
Total subscription and services revenue510,936 361,685 
Total net revenue1,587,677 736,398 
Other revenue
Corporate interest and other income49,893 36,131 
Total other revenue49,893 36,131 
Total revenue$1,637,570 $772,529 
__________________
(1)During the first quarter of 2024, the Company reclassified Base and payment-related revenue from consumer, net to other transaction revenue. Prior period amounts have been reclassified to conform to current period presentation.
(2)During the first quarter of 2024, the Company reclassified Prime Financing fees earned from other subscription and services revenue to interest income, and renamed interest income to interest and finance fee income. Prior period amounts have been reclassified to conform to current period presentation.
Schedule of revenues disaggregated by geography
In the table below are the revenues disaggregated by geography, based on domicile of the customers, as applicable (in thousands):
Three Months Ended March 31,
20242023
United States$1,353,450 $686,769 
International(1)
284,120 85,760 
     Total revenue$1,637,570 $772,529 
__________________
(1)No other individual country accounted for more than 10% of total revenue.