The following table summarizes the brokerage related allowance for credit losses which is primarily related to fraudulent activities, included in receivables from users, net on the consolidated balance sheet: | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | (in millions) | 2023 | | 2024 | | 2025 | | Beginning balance | $ | 18 | | | $ | 15 | | | $ | 14 | | | Provision for credit losses | 22 | | | 21 | | | 28 | | | Write-offs | (25) | | | (23) | | | (30) | | | Recoveries | — | | | 1 | | | 4 | | | Ending Balance | $ | 15 | | | $ | 14 | | | $ | 16 | |
The following table summarizes the allowance related to off-balance sheet credit card receivables: | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | (in millions) | | 2023 | | 2024 | | 2025 | | Beginning balance | | $ | — | | | $ | 32 | | | $ | 40 | | | Opening balance from acquisition of Robinhood Credit | | 23 | | | — | | | — | | | Provision for credit losses | | 19 | | | 40 | | | 27 | | Payments to Coastal Bank | | (11) | | | (34) | | | (28) | | | Recoveries | | 1 | | | 2 | | | 2 | | | Ending balance | | $ | 32 | | | $ | 40 | | | $ | 41 | |
The following table summarizes the allowance related to purchased credit card receivables and interest receivables from customers: | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | (in millions) | | 2023 | | 2024 | | 2025 | | Beginning balance | | $ | — | | | $ | 1 | | | $ | 11 | | | Provision for credit losses | | 2 | | | 15 | | | 59 | | | Write-offs | | (1) | | | (5) | | | (17) | | | Recoveries | | — | | | — | | | 3 | | | Ending balance | | $ | 1 | | | $ | 11 | | | $ | 56 | |
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