Cash and cash equivalents represent cash on hand, demand deposits placed with banks or other financial institutions and all highly liquid investments with original maturities of three months or less. Cash and cash equivalents balance as of December 31, 2024 and 2025 primarily consist of the following currencies:


		December 31, 2024				December 31, 2025
				US$				US$
		Amount		equivalent		Amount		equivalent

US$		276,110		276,110		267,637		267,637
RMB		753,707		104,847		371,282		52,823
Others		N/A		63,804		N/A		53,788
Total				444,761				374,248

As of December 31, 2024, the Group’s restricted cash and cash equivalents were US$371,332, primarily consisting of amounts deposited and held in an escrow account owned by the Group, which was a portion of the consideration received from Baidu under the agreement to dispose of the YY Live business. On February 25, 2025, the Company completed the sale of YY Live, all conditions for the release of the escrowed funds were satisfied, and the escrow arrangement was terminated, resulting in the substantial release of such restricted amounts. The remaining balance of US$21,593 as of December 31, 2025, primarily pertains to the fixed deposits pledged for payment processing operations.