v3.25.4
GOODWILL AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Movement on Goodwill
The following table summarizes the carrying amount of goodwill:
December 31,
(in millions)20242025
Beginning balance$175 $179 
Less: Accumulated impairment— — 
Beginning balance, net175 179 
Additions due to business combinations(1)
4 204 
Foreign currency translation adjustment
— 2 
Ending balance$179 $385 
_______________
(1) For the year ended December 31, 2025, additions are related to the acquisition of TradePMR and Bitstamp as disclosed in Note 3 - Business Combinations
Schedule of Components of Finite-Lived Intangible Assets
The following tables summarize the components of intangible assets:

December 31, 2024
(in millions, except years)Gross Carrying ValueAccumulated AmortizationNet Carrying ValueWeighted Average Remaining Useful Life - Years
Finite-lived intangible assets:
Developed technology$51 $(33)$18 2.63
Customer relationships23 (13)10 4.72
Indefinite-lived intangible assets10 — 10 N/A
Total$84 $(46)$38 
December 31, 2025
(in millions, except years)Gross Carrying ValueAccumulated AmortizationNet Carrying ValueWeighted Average Remaining Useful Life - Years
Finite-lived intangible assets:
Developed technology$98 $(26)$72 4.37
Customer relationships64 (7)57 11.64
Trade names2 (1)1 2.43
Indefinite-lived intangible assets37 — 37 N/A
Foreign currency translation adjustment
1 — 1 N/A
Total$202 $(34)$168 
Schedule of Components of Indefinite-Lived Intangible Assets
The following tables summarize the components of intangible assets:

December 31, 2024
(in millions, except years)Gross Carrying ValueAccumulated AmortizationNet Carrying ValueWeighted Average Remaining Useful Life - Years
Finite-lived intangible assets:
Developed technology$51 $(33)$18 2.63
Customer relationships23 (13)10 4.72
Indefinite-lived intangible assets10 — 10 N/A
Total$84 $(46)$38 
December 31, 2025
(in millions, except years)Gross Carrying ValueAccumulated AmortizationNet Carrying ValueWeighted Average Remaining Useful Life - Years
Finite-lived intangible assets:
Developed technology$98 $(26)$72 4.37
Customer relationships64 (7)57 11.64
Trade names2 (1)1 2.43
Indefinite-lived intangible assets37 — 37 N/A
Foreign currency translation adjustment
1 — 1 N/A
Total$202 $(34)$168 
Schedule of Future Amortization Expense in Acquired Intangible Assets
As of December 31, 2025, the estimated future amortization expense of finite-lived intangible assets was as follows:
(in millions)Finite-lived Intangible Assets
2026$27 
202722 
202818 
202918 
203012 
Thereafter33 
Total$130