v3.25.4
REVENUES - Revenue Disaggregated by Revenue Sources (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Interest expenses related to credit facilities $ (32) $ (24) $ (23)
Total net interest revenues 1,514 1,109 929
Total net revenues 4,473 2,951 1,865
Transaction-based revenues      
Disaggregation of Revenue [Line Items]      
Revenues 2,628 1,647 785
Options      
Disaggregation of Revenue [Line Items]      
Revenues 1,123 760 505
Cryptocurrencies      
Disaggregation of Revenue [Line Items]      
Revenues 901 626 135
Equities      
Disaggregation of Revenue [Line Items]      
Revenues 302 177 104
Other      
Disaggregation of Revenue [Line Items]      
Revenues 302 84 41
Margin interest      
Disaggregation of Revenue [Line Items]      
Net interest revenues: 573 319 243
Interest on segregated cash, cash equivalents, securities, and deposits      
Disaggregation of Revenue [Line Items]      
Net interest revenues: 319 261 210
Cash Sweep      
Disaggregation of Revenue [Line Items]      
Net interest revenues: 229 179 123
Securities lending, net      
Disaggregation of Revenue [Line Items]      
Net interest revenues: 190 94 79
Interest on corporate cash and investments      
Disaggregation of Revenue [Line Items]      
Net interest revenues: 167 256 288
Credit card, net      
Disaggregation of Revenue [Line Items]      
Net interest revenues: 64 24 9
Total other revenues      
Disaggregation of Revenue [Line Items]      
Revenues 331 195 151
Gold subscription revenues      
Disaggregation of Revenue [Line Items]      
Revenues 179 109 75
Proxy revenues      
Disaggregation of Revenue [Line Items]      
Revenues 63 60 61
Other      
Disaggregation of Revenue [Line Items]      
Revenues 89 26 15
Net interest revenues: $ 4 $ 0 $ 0