Date: 5/8/2026
Form: 10-Q - Quarterly Report
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Condensed Consolidated Balance Sheets - USD ($) |
Mar. 31, 2026 |
Dec. 31, 2025 |
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|---|---|---|---|---|---|---|
| Current Assets: | ||||||
| Cash and cash equivalents | [1],[2] | $ 249,066,900 | $ 134,557,600 | |||
| Restricted cash | 30,533,500 | 31,330,500 | ||||
| Short-term investments | 207,370,700 | 305,053,300 | ||||
| Equity securities | 554,142,200 | 722,069,100 | ||||
| Prepaid expenses and other current assets | [1],[2] | 10,307,600 | 9,992,300 | |||
| Accounts receivable, net | 221,600 | 244,500 | ||||
| Total current assets | 1,051,642,500 | 1,203,247,300 | ||||
| Convertible note receivable | 200,000,000 | 200,000,000 | ||||
| Interest receivable | 3,950,700 | 498,600 | ||||
| Property and equipment, net | 2,556,900 | 3,051,600 | ||||
| Goodwill | 120,884,200 | 120,884,200 | ||||
| Digital assets (Note 4) | 700,075,300 | 904,370,600 | ||||
| Digital assets pledged (Note 4) | 135,634,300 | 175,300,400 | ||||
| Intangible assets, net | 18,465,200 | 19,829,600 | ||||
| Right-of-use assets, net | 3,145,000 | 2,505,300 | ||||
| Total assets | 2,236,354,100 | 2,629,687,600 | ||||
| Current Liabilities: | ||||||
| Accounts payable and accrued expenses | [1],[2] | 19,676,700 | 32,294,300 | |||
| Convertible notes payable (Note 10) | 953,262,200 | 941,893,900 | ||||
| Related party payables | $ 262,000 | $ 262,000 | ||||
| Other Liability, Noncurrent, Related Party Type [Extensible Enumeration] | Related Party [Member] | Related Party [Member] | ||||
| Unearned revenue | $ 1,066,700 | $ 30,400 | ||||
| Current portion of long-term debt | 4,873,400 | 4,780,500 | ||||
| Current portion of operating lease liability | 1,087,400 | 836,200 | ||||
| Total current liabilities | 980,228,400 | 980,097,300 | ||||
| Long-term operating lease liability | 2,111,900 | 1,723,500 | ||||
| Long-term debt - other | 451,200 | 442,600 | ||||
| Deferred tax liability | 659,000 | 560,100 | ||||
| Total liabilities | 983,450,500 | 982,823,500 | ||||
| Commitments and contingencies (Note 15) | ||||||
| Stockholders’ Equity: | ||||||
| Preferred Stock $0.0001 par value – 1,000,000 shares authorized, 0 shares issued and outstanding at March 31, 2026 and December 31, 2025 | 0 | 0 | ||||
| Common Stock $0.0001 par value – 999,000,000 shares authorized, 276,953,828 and 276,724,314 shares issued and outstanding at March 31, 2026 and December 31, 2025 | 28,100 | 28,100 | ||||
| Paid in capital | 5,372,372,500 | 5,360,448,800 | ||||
| Treasury stock, at cost (4,279,691 and 4,279,691 shares) | (56,516,300) | (56,516,300) | ||||
| Accumulated deficit | (4,063,060,600) | (3,657,247,100) | ||||
| Total stockholders’ equity | 1,252,823,700 | 1,646,713,500 | ||||
| Noncontrolling interest | 79,900 | 150,600 | ||||
| Total equity | 1,252,903,600 | 1,646,864,100 | ||||
| Total liabilities and stockholders’ equity | $ 2,236,354,100 | $ 2,629,687,600 | ||||
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- Definition Amount of cash and cash equivalent. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) |
Mar. 31, 2026 |
Dec. 31, 2025 |
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|---|---|---|---|---|---|---|
| Preferred stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 | ||||
| Preferred stock, shares authorized (in Shares) | 1,000,000 | 1,000,000 | ||||
| Preferred stock, shares issued (in Shares) | 0 | 0 | ||||
| Preferred stock, shares outstanding (in Shares) | 0 | 0 | ||||
| Common stock, par value (in Dollars per share) | $ 0.0001 | $ 0.0001 | ||||
| Common stock, shares authorized (in Shares) | 999,000,000 | 999,000,000 | ||||
| Common stock, shares outstanding (in Shares) | 276,953,828 | 276,724,314 | ||||
| Common stock, shares issued (in Shares) | 276,953,828 | 276,724,314 | ||||
| Treasury stock, at cost (in Shares) | 4,279,691 | 4,279,691 | ||||
| Total assets (in Dollars) | $ 2,236,354,100 | $ 2,629,687,600 | ||||
| Cash and cash equivalents (in Dollars) | [1],[2] | 249,066,900 | 134,557,600 | |||
| Prepaid expenses and other current assets (in Dollars) | [1],[2] | 10,307,600 | 9,992,300 | |||
| Total liabilities (in Dollars) | 983,450,500 | 982,823,500 | ||||
| Accounts payable and accrued expenses (in Dollars) | [1],[2] | 19,676,700 | 32,294,300 | |||
| VIEs [Member] | ||||||
| Total assets (in Dollars) | 3,723,700 | 1,556,000 | ||||
| Cash and cash equivalents (in Dollars) | 3,666,600 | 1,556,000 | ||||
| Prepaid expenses and other current assets (in Dollars) | 57,100 | |||||
| Nonrecourse [Member] | VIEs [Member] | ||||||
| Total liabilities (in Dollars) | 175,100 | 50,500 | ||||
| Accounts payable and accrued expenses (in Dollars) | $ 175,100 | $ 50,500 | ||||
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- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of asset recognized for present right to economic benefit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of cash and cash equivalent. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Number of shares issued for nonredeemable preferred shares and preferred shares redeemable solely at option of issuer. Includes, but is not limited to, preferred shares issued, repurchased, and held as treasury shares. Excludes preferred shares classified as debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Number of previously issued common shares repurchased by the issuing entity and held in treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Condensed Consolidated Statements of Operations - USD ($) |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
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| Net sales | $ 871,200 | $ 821,200 | ||||
| Operating costs and expenses(1) | ||||||
| Cost of revenue | 1,501,000 | 336,700 | ||||
| Research and development | [1] | 8,402,100 | 12,564,900 | |||
| Sales and marketing | 691,200 | 497,400 | ||||
| General and administration | [1] | 37,937,000 | 25,178,000 | |||
| Unrealized loss on digital assets and digital assets pledged | 243,961,400 | 0 | ||||
| Depreciation and amortization | 1,866,400 | 1,779,200 | ||||
| Total operating costs and expenses | [1] | 294,359,100 | 40,356,200 | |||
| Loss from operations | (293,487,900) | (39,535,000) | ||||
| Interest income | 7,230,200 | 7,995,200 | ||||
| Interest expense | (11,469,800) | (186,800) | ||||
| Investment loss | (108,209,800) | 0 | ||||
| Litigation settlement | 151,900 | 0 | ||||
| Loss from operations before income taxes | (405,785,400) | (31,726,600) | ||||
| Income tax expense | (98,800) | 0 | ||||
| Net loss | (405,884,200) | (31,726,600) | ||||
| Less net loss attributable to noncontrolling interest | 70,700 | 0 | ||||
| Net loss available to common stockholders | $ (405,813,500) | $ (31,726,600) | ||||
| Loss per share attributable to common stockholders: | ||||||
| Basic (in Dollars per share) | $ (1.47) | $ (0.14) | ||||
| Diluted (in Dollars per share) | [2] | $ (1.47) | $ (0.14) | |||
| Weighted Average Shares used to compute net loss per share attributable to common stockholders: | ||||||
| Basic (in Shares) | 276,744,177 | 220,576,705 | ||||
| Diluted (in Shares) | 276,744,177 | 220,576,705 | ||||
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of realized and unrealized gain (loss) from remeasurement of crypto asset, classified as operating. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of realized and unrealized gain (loss) on investment. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of gain (loss) recognized in settlement of litigation and insurance claims. Excludes claims within an insurance entity's normal claims settlement process. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of expense for research and development. Includes, but is not limited to, cost for computer software product to be sold, leased, or otherwise marketed and writeoff of research and development assets acquired in transaction other than business combination or joint venture formation or both. Excludes write-down of intangible asset acquired in business combination or from joint venture formation or both, used in research and development activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
|
| X | ||||||||||
- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
Condensed Consolidated Statements of Operations (Parentheticals) - USD ($) |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| Total stock based compensation expense | $ 11,829,600 | $ 17,851,700 |
| Research and Development [Member] | ||
| Total stock based compensation expense | 3,122,100 | 7,561,000 |
| General and Administration [Member] | ||
| Total stock based compensation expense | $ 8,707,500 | $ 10,290,700 |
| X | ||||||||||
- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Condensed Consolidated Statements of Stockholders’ Equity - USD ($) |
Common Stock [Member] |
Treasury Stock [Member] |
Paid-in Capital [Member] |
Accumulated Deficit [Member] |
Total Stockholders’ Equity [Member] |
Noncontrolling Interest [Membet] |
Total |
|---|---|---|---|---|---|---|---|
| Balance at Dec. 31, 2024 | $ 22,100 | $ (2,908,700) | $ 3,861,662,400 | $ (2,945,185,700) | $ 913,590,100 | $ 0 | $ 913,590,100 |
| Balance (in Shares) at Dec. 31, 2024 | 220,785,152 | ||||||
| Balance (in Shares) at Dec. 31, 2024 | (128,138) | ||||||
| Exercise of warrants | $ 0 | $ 0 | 221,500 | 0 | 221,500 | 0 | 221,500 |
| Exercise of warrants (in Shares) | 19,292 | ||||||
| Exercise of warrants (in Shares) | 0 | ||||||
| Stock based compensation | $ 0 | $ 0 | 17,851,700 | 0 | 17,851,700 | 0 | 17,851,700 |
| Stock based compensation (in Shares) | 0 | 0 | |||||
| Treasury stock | $ 0 | $ (8,250,200) | 0 | 0 | (8,250,200) | 0 | (8,250,200) |
| Treasury stock (in Shares) | (296,345) | ||||||
| Vesting of restricted stock units | $ 0 | $ 0 | 0 | 0 | 0 | 0 | 0 |
| Vesting of restricted stock units (in Shares) | 243,411 | 0 | |||||
| Net loss | $ 0 | $ 0 | 0 | (31,726,600) | (31,726,600) | 0 | (31,726,600) |
| Balance at Mar. 31, 2025 | $ 22,100 | $ (11,158,900) | 3,879,735,600 | (2,976,912,300) | 891,686,500 | 0 | 891,686,500 |
| Balance (in Shares) at Mar. 31, 2025 | 221,047,855 | ||||||
| Balance (in Shares) at Mar. 31, 2025 | (424,483) | ||||||
| Balance at Dec. 31, 2025 | $ 28,100 | $ (56,516,300) | 5,360,448,800 | (3,657,247,100) | 1,646,713,500 | 150,600 | $ 1,646,864,100 |
| Balance (in Shares) at Dec. 31, 2025 | 281,004,005 | ||||||
| Balance (in Shares) at Dec. 31, 2025 | (4,279,691) | (4,279,691) | |||||
| Exercise of warrants | $ 0 | $ 0 | 94,100 | 0 | 94,100 | 0 | $ 94,100 |
| Exercise of warrants (in Shares) | 8,181 | ||||||
| Exercise of warrants (in Shares) | 0 | ||||||
| Stock based compensation | $ 0 | $ 0 | 11,829,600 | 0 | 11,829,600 | 0 | 11,829,600 |
| Stock based compensation (in Shares) | 0 | 0 | |||||
| Vesting of restricted stock units | $ 0 | $ 0 | 0 | 0 | 0 | 0 | 0 |
| Vesting of restricted stock units (in Shares) | 221,333 | 0 | |||||
| Net loss | $ 0 | $ 0 | 0 | (405,813,500) | (405,813,500) | (70,700) | (405,884,200) |
| Balance at Mar. 31, 2026 | $ 28,100 | $ (56,516,300) | $ 5,372,372,500 | $ (4,063,060,600) | $ 1,252,823,700 | $ 79,900 | $ 1,252,903,600 |
| Balance (in Shares) at Mar. 31, 2026 | 281,233,519 | ||||||
| Balance (in Shares) at Mar. 31, 2026 | (4,279,691) | (4,279,691) |
| X | ||||||||||
- Definition Number of shares issued as a result of the exercise of warrants during the period. No definition available.
|
| X | ||||||||||
- Definition Value of stock issued during the period as exercise of warrants. No definition available.
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Number of shares issued which are neither cancelled nor held in the treasury. No definition available.
|
| X | ||||||||||
- Definition Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Number, after forfeiture, of shares or units issued under share-based payment arrangement. Excludes shares or units issued under employee stock ownership plan (ESOP). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Value of stock related to Restricted Stock Awards issued during the period, net of the stock value of such awards forfeited. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Value, after forfeiture, of shares issued under share-based payment arrangement. Excludes employee stock ownership plan (ESOP). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Number of previously issued common shares repurchased by the issuing entity and held in treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Number of shares that have been repurchased during the period and are being held in treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Condensed Consolidated Statements of Cash Flows - USD ($) |
3 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
||||||
| Cash flows from operating activities | |||||||
| Net loss | $ (405,884,200) | $ (31,726,600) | |||||
| Adjustments to reconcile net loss to net cash provided by/(used in) operating activities: | |||||||
| Non-cash interest expense on debt | 11,469,800 | 186,800 | |||||
| Non-cash interest income | (3,452,100) | 0 | |||||
| Non-cash barter expense | 1,035,000 | 0 | |||||
| Depreciation and amortization | 1,866,400 | 1,779,200 | |||||
| Stock based compensation | 11,829,600 | 17,851,700 | |||||
| Unrealized loss on digital assets and digital assets pledged | 243,961,400 | 0 | |||||
| Net unrealized loss on investments | 124,737,800 | 0 | |||||
| Operating lease amortization | 245,100 | 222,000 | |||||
| Deferred taxes | 98,800 | 0 | |||||
| Change in operating assets and liabilities | |||||||
| Prepaid expenses and other current assets | 7,684,800 | (381,600) | |||||
| Accounts receivable | 23,000 | (15,700) | |||||
| Unearned revenue | 1,200 | (764,000) | |||||
| Operating lease liabilities | (245,200) | (216,200) | |||||
| Accounts payable and accrued expenses | 24,518,600 | 3,326,600 | |||||
| Net cash provided by/(used in) operating activities | 17,890,000 | (9,737,800) | |||||
| Cash flows from investing activities | |||||||
| Purchases of equity securities | (1,933,500) | 0 | |||||
| Purchases of property and equipment | (7,300) | (3,200) | |||||
| Purchases of short-term investments | (2,317,400) | (6,306,900) | |||||
| Proceeds from short-term investments | 100,000,000 | 0 | |||||
| Net cash provided by/(used in) investing activities | 95,741,800 | (6,310,100) | |||||
| Cash flows from financing activities | |||||||
| Repurchase of common stock | 0 | (8,250,200) | |||||
| Proceeds from the exercise of warrants, net | 80,500 | 189,400 | |||||
| Net cash provided by/(used in) financing activities | 80,500 | (8,060,800) | |||||
| Net change in cash, cash equivalents, and restricted cash | 113,712,300 | (24,108,700) | |||||
| Cash, cash equivalents, and restricted cash, beginning of period | 165,888,100 | 170,236,100 | |||||
| Cash, cash equivalents and restricted cash, end of period | 279,600,400 | 146,127,400 | |||||
| Reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets | |||||||
| Cash and cash equivalents | 249,066,900 | [1],[2] | 146,127,400 | ||||
| Restricted cash | 30,533,500 | 0 | |||||
| Total cash, cash equivalents, and restricted cash, end of period | 279,600,400 | 146,127,400 | |||||
| Supplemental disclosure of cash flow information | |||||||
| Cash paid for interest | 0 | 0 | |||||
| Cash paid for taxes | 0 | 0 | |||||
| Noncash investing and financing activities | |||||||
| Operating lease asset obtained in exchange for operating lease obligation | $ 884,700 | $ 0 | |||||
| |||||||
| X | ||||||||||
- Definition Amount before accretion (amortization) of purchase discount (premium) of expense recognized related to a barter transaction involving the acquisition of net monetary assets on operating securities. No definition available.
|
| X | ||||||||||
- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income and dividend income on operating securities. No definition available.
|
| X | ||||||||||
- Definition Amount of increase in operating lease asset in a noncash (or part noncash) transaction obtained in exchange for operating lease obligations. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash and cash equivalent. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash and cash equivalent, and cash and cash equivalent restricted to withdrawal or usage; attributable to continuing operation. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount, excluding effect from change in exchange rate, of increase (decrease) in cash and cash equivalent, and cash and cash equivalent restricted to withdrawal or usage; including, but not limited to, discontinued operation. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of realized and unrealized gain (loss) from remeasurement of crypto asset, classified as operating. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The net realized gain (loss) on investments sold during the period, not including gains (losses) on securities separately or otherwise categorized as trading, available-for-sale, or held-to-maturity, which, for cash flow reporting, is a component of proceeds from investing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount, after refund, of cash paid to foreign, federal, state, and local jurisdictions as income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of increase (decrease) in obligation to transfer good or service to customer for which consideration has been received or is receivable. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of increase (decrease) in obligation for operating lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of increase (decrease) in prepaid expenses, and assets classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activity, including, but not limited to, discontinued operation. Financing activity includes, but is not limited to, obtaining resource from owner and providing return on, and return of, their investment; borrowing money and repaying amount borrowed, or settling obligation; and obtaining and paying for other resource obtained from creditor on long-term credit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activity, including, but not limited to, discontinued operation. Investing activity includes, but is not limited to, making and collecting loan, acquiring and disposing of debt and equity instruments, property, plant, and equipment, and other productive assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activity, including, but not limited to, discontinued operation. Operating activity includes, but is not limited to, transaction, adjustment, and change in value not defined as investing or financing activity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of periodic reduction over lease term of carrying amount of right-of-use asset from operating lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Interest paid other than in cash for example by issuing additional debt securities. As a noncash item, it is added to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The cash outflow to reacquire common stock during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of cash outflow for purchase of marketable security. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The cash outflow for securities or other assets acquired, which qualify for treatment as an investing activity and are to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The cash inflow from sales of all investments, including securities and other assets, having ready marketability and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The cash inflow associated with the amount received from holders exercising their stock warrants. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
DESCRIPTION OF BUSINESS |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| DESCRIPTION OF BUSINESS [Abstract] | |
| DESCRIPTION OF BUSINESS | NOTE 1 - DESCRIPTION OF BUSINESS
The accompanying consolidated financial statements include the historical accounts of Trump Media & Technology Group Corp (“TMTG”). The mission of TMTG is to end Big Tech’s assault on free speech by
opening up the Internet and giving people their voices back. TMTG operates Truth Social, a open social media platform centered on free speech that is designed to be uncancellable, as well as Truth+, a streaming platform focusing on family friendly
live TV channels and on-demand content. TMTG has also launched Truth.Fi, a financial services and FinTech brand incorporating America First investment vehicles, and a digital asset strategy--including a bitcoin treasury.
|
| X | ||||||||||
- Definition The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES [Abstract] | |
| SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES | NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and
pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”).
Our interim financial statements are unaudited, and in our opinion, include all adjustments of a normal recurring nature necessary for the fair presentation of the periods presented. The results for
the interim periods are not necessarily indicative of the results to be expected for any subsequent period or for the year ending December 31, 2026.
These unaudited condensed consolidated financial statements and related notes should be read in conjunction with our audited consolidated financial statements and related notes included in our Annual Report on Form 10-K
for the year ended December 31, 2025 (as amended the “Annual Report”).
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, the fair value of assets acquired and liabilities assumed in business acquisitions, the assessment of recoverability of our goodwill and
long-lived assets, and the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the
results of which form the basis for making judgments about the carrying value of assets, liabilities, and equity that are not readily apparent from other sources. Actual results could differ from those estimates. Material estimates and assumptions
reflected in the condensed consolidated financial statements relate to and include, but are not limited to, fair value of intangible assets acquired in business acquisitions, recoverability of goodwill and intangibles, fair value of short-term
investments and equity securities, digital assets, digital assets pledged, the fair value of our option liabilities, useful lives of intangibles and depreciable assets, and stock-based compensation.
Principles of Consolidation
The condensed consolidated financial statements include the financial statements of the Company, its wholly owned subsidiaries, and a VIE in which we are deemed the primary beneficiary, have been
prepared in accordance with U.S. GAAP. All intercompany transactions and balances have been eliminated.
Unearned revenue
Unearned revenue primarily consists of billings or payments received from customers, or services provided in a barter transaction, in advance of revenue recognized for the services provided to our customers or annual licenses and is recognized as services are performed or ratably over the life of the license. We generally invoice customers in advance or in milestone-based installments. Unearned revenue of $30.4 was recognized as revenue for the three months ended March 31, 2026, which was included in the unearned revenue balance as of December 31, 2025. As of March 31, 2026, unearned revenue is expected to be recognized during the succeeding 12-month period and is therefore presented as a current liability on the condensed consolidated balance sheets.
Options
We manage our exposure to bitcoin price fluctuation through derivative instruments on bitcoin and bitcoin related securities, as part of our digital asset treasury strategy. In order to manage this
risk, we sell covered put and covered call options, purchase call and put options, use a synthetic long strategy that uses a combination of a purchased call option and a sold put option which provides us exposure to increases in bitcoin prices while
limiting downside risk should the price decrease, or use a collar strategy that uses a combination of a purchased put option and a sold call option which provides us protection from downside risk.
Written covered put and call options on bitcoin related securities generate premium income and allow us to purchase bitcoin related securities at lower effective prices. The put options are covered by
cash collateral to cover potential purchases and the call options are covered by our ownership in the underlying security. In exchange for this commitment, we receive premiums immediately paid in cash. The difference between the premium received and
the amount paid while affecting a closing purchase transaction, including brokerage commissions, is also treated as a realized investment gain or loss. This premium acts as income, increasing our investment yield. If the written option expires
worthless, we keep the full premium as profit with no obligation to purchase. If a put option is exercised, we buy the security at the strike price using the cash collateral, and the premium received reduces the effective cost basis, allowing us to
acquire the securities at a discount compared to direct market purchases. If a written call option is exercised, we sell the security at the strike price using our existing holdings of the security, and the premium received reduces any loss or
increases any gain we may incur.
The writer of an option bears the market risk of an unfavorable change in the price of the underlying security. The aggregate fair value of unexpired options written are included in accounts payable and accrued expenses in the consolidated balance sheets. Cash held as collateral for written options is classified as restricted cash on the consolidated balance sheet. Securities held as collateral for outstanding call options are presented within equity securities on the consolidated balance sheet. As of March 31, 2026 and December 31, 2025, we had $0.0 and $951.6 of restricted cash covering our unexpired put options, respectively. We had $438,522.0 and $566,700.1 of equity securities, and $271,268.6 and $350,600.8 of digital assets restricted to cover unexpired call options as of March 31, 2026 and December 31, 2025, respectively.
Concentrations of risks
Our financial instruments exposed to concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. Although we deposit cash and cash equivalents with multiple
banks, these deposits may exceed the amount of Federal Deposit Insurance Corporation limits provided on such deposits.
Digital assets, digital assets pledged, and equity securities represent a significant holding, constituting approximately 62.1% and 68.5% of our total assets as of March 31, 2026 and December 31, 2025, respectively. One advertising platform accounted for 66.5% and 93.0% of our total revenue for the three months ended March 31, 2026 and 2025, respectively.
In order to reduce the risk of downtime of the products we provide, we have established data centers in various geographic regions. We have internal procedures to restore products in the event of a
service disruption or disaster at any of our data center facilities. We serve our customers and users from data center facilities operated either by us or third parties. Even with these procedures for disaster recovery in place, the availability of
our products could be significantly interrupted during the implementation of restoration procedures.
Recently adopted accounting standards
In November 2024, the FASB issued ASU 2024-04, Debt-Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. ASU
2024-04 clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. We adopted ASU 2024-04 on January 1, 2026. The adoption of this ASU did not have a
material impact on our condensed consolidated financial statements and disclosures.
In May 2025, the FASB issued ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining
the Accounting Acquirer in the Acquisition of a Variable Interest Entity. ASU 2025-03 revises current guidance for determining the accounting acquirer for a transaction effected primarily by exchanging equity interests in which the legal acquiree is
a variable interest entity that meets the definition of a business. The amendments require that an entity consider the same factors that are currently required for determining which entity is the accounting acquirer in other acquisition transactions.
The ASU is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods. We adopted ASU 2025-03 on January 1, 2026. The adoption of this ASU did not have a material
impact on our condensed consolidated financial statements and disclosures.
In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurements of Credit Losses for Accounts Receivable and Contract Assets.
This update provides a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under ASC 606. We adopted ASU 2025-05 on prospective
basis on January 1, 2026. The adoption of this ASU did not have a material impact on our condensed consolidated financial statements and disclosures.
Recently issued accounting standard
In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements. This update clarifies the applicability of Topic 270
and the form and content of interim financial statements. In addition, ASU 2025-11 requires entities to disclose material events occurring since the last annual reporting period. ASU 2025-11 will be effective for interim periods beginning January
1, 2028, and can be applied on a prospective or retrospective basis. We are evaluating the disclosure impact of ASU 2025-11; however, the standard will not have an impact on our consolidated financial statements.
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| X | ||||||||||
- References No definition available.
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- Definition The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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FAIR VALUE MEASUREMENT |
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| FAIR VALUE MEASUREMENT [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE MEASUREMENT | NOTE 3 - FAIR VALUE MEASUREMENT
Fair value is defined as an exit price, representing the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. We use a three-tier fair value
hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:
Level 1. Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2. Significant other inputs that are directly or indirectly observable in the marketplace.
Level 3. Significant unobservable inputs which are supported by little or no market activity.
The categorization of an asset or liability within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The valuation techniques used by us when measuring fair value maximize the use of observable inputs and minimize the use of unobservable inputs.
The fair value of our money market funds, equity securities, digital assets, option assets, and option premium liabilities are classified within Level 1, because we use quoted market prices to determine
their fair value. Exchange traded funds and common stock are valued based on the last trade price on the primary exchange on which they are traded, and options are valued based on the mean of the last bid and ask price. Digital assets are valued
using the quoted (unadjusted) closing price of bitcoin and Cronos in U.S. dollars on the active exchange that we have determined is its principal market at 4:00 PM Eastern on March 31, 2026. We have not realized any material losses related to these
securities. We also estimate the fair value of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses, and accrued compensation and employee benefits. The Company
considers the carrying value of these instruments in the Condensed Consolidated Financial Statements to approximate fair value due to their short maturities.
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- References No definition available.
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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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DIGITAL ASSETS |
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| DIGITAL ASSETS [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DIGITAL ASSETS | NOTE 4 – DIGITAL ASSETS
Our digital asset holdings as of March 31, 2026 and December 31, 2025 consist of the following:
The following table presents a reconciliation of our digital asset holdings:
As of March 31, 2026, and December 31, 2025, we had 4,260.73 bitcoin with a fair value of $288,950.5 and $373,453.7, respectively, serving as collateral to convertible notes (Note 10). We are restricted from distributing or withdrawing this bitcoin subject to meeting certain loan indenture requirements, with restrictions lifted no later than maturity of the convertible notes on May 29, 2028.
We hold covered-call options on 4,000.00 bitcoin with a counterparty to hedge our exposure to bitcoin’s volatility, which requires us to maintain 2,000.00 bitcoin as collateral that the counterparty can rehypothecate at their sole discretion. As of March 31, 2026 and December 31, 2025, the fair value of bitcoin restricted by covered-call options was $271,268.6 and $350,600.8, respectively, and the covered-call options expire in June 2026. The fair value of the liability on the covered-call options on bitcoin hedged was $307.6 and $7,517.4 as of March 31, 2026 and December 31, 2025, and is recorded within accounts payable and accrued liabilities on our condensed consolidated balance sheet.
The digital assets pledged had a fair value of $135,634.3 as of March 31, 2026. We did not record an expected credit loss related to the digital assets pledged.
We purchased 684,427,004.00 Cronos pursuant to a purchase agreement in August 2025, which restricts our ability to sell our Cronos over a three-year period. Beginning February 26, 2026, we are able to sell up to 68,442,700.40 Cronos over the next six months. Subsequent sales windows for the ensuing three years from February 26, 2026 allow for the sale of between 15% and 25% of our restricted Cronos holdings in each window. On February 26, 2029, all sales restrictions on our restricted Cronos will lapse. As of March 31, 2026, we are restricted from selling 615,984,303.6 Cronos with a fair value of $43,141.7.
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- References No definition available.
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- Definition The entire disclosure for crypto asset. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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GOODWILL AND INTANGIBLE ASSETS |
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| GOODWILL AND INTANGIBLE ASSETS [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GOODWILL AND INTANGIBLE ASSETS | NOTE 5 – GOODWILL AND INTANGIBLE ASSETS
The following table summarizes our goodwill balance:
Finite-lived intangible assets, net are summarized as follows:
Amortization expense was $1,364.4 for the three months ended March 31, 2026 and 2025. As of March 31, 2026, the weighted-average remaining amortization period for amortizable intangible assets was 3.35 years.
Based on the balance of finite-lived intangible assets at March 31, 2026, expected remaining future amortization expense is as follows:
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- References No definition available.
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- Definition The entire disclosure for goodwill and intangible assets. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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ACCOUNTS PAYABLE AND ACCRUED EXPENSES |
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| ACCOUNTS PAYABLE AND ACCRUED EXPENSES [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACCOUNTS PAYABLE AND ACCRUED EXPENSES | NOTE 6 – ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts payable and accrued expenses consisted of the following:
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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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LEASES |
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| LEASES [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LEASES | NOTE 7 – LEASES
During the three month ended March 31, 2026 and 2025, we recognized additional right of use (ROU) assets and lease liabilities of $884.7 and $0.0, respectively. We elected not to recognize ROU assets and lease liabilities arising from short-term leases with initial terms of twelve months or less on the consolidated balance sheets. When measuring lease liabilities for leases that were classified as operating leases, we discounted lease payments using its estimated incremental borrowing rate. The weighted average incremental borrowing rate applied was 8.00%. As of March 31, 2026, our leases had a remaining weighted average term of 2.90 years.
Operating leases are included in the consolidated balance sheets as follows:
The components of lease costs, which are included in loss from operations in our condensed consolidated statements of operations were as follows:
Future minimum payments under non-cancellable leases for operating leases for the remaining terms of the leases following the three months ended March 31, 2026, are as follows:
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- References No definition available.
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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INCOME TAXES |
3 Months Ended |
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Mar. 31, 2026 | |
| INCOME TAXES [Abstract] | |
| INCOME TAXES | NOTE 8 - INCOME TAXES
The estimated annual effective tax rate applied to the three months ended March 31, 2026, is 0.8% which differs from the U.S. federal statutory rate of 21% principally due to the projection of U.S. net operating loss for the fiscal 2026 with full application of a valuation allowance. As of March 31, 2026, we had U.S. Federal and state net operating loss carryforwards (“NOLs”) with a tax benefit of $64,474.6 from December 31, 2025. NOLs are available for use indefinitely.
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- References No definition available.
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- Definition The entire disclosure for income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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RELATED PARTY TRANSACTIONS |
3 Months Ended |
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Mar. 31, 2026 | |
| RELATED PARTY TRANSACTIONS [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 9 – RELATED PARTY TRANSACTIONS
Administrative Services Arrangement
An affiliate of Digital World Acquisition Corp.’s (our predecessor prior to our initial business combination, “Digital World”) sponsor, ARC Global Investments II, LLC (the “Sponsor”), agreed, commencing from the date when Digital World’s registration statement relating to its initial business combination was declared effective and continuing through the earlier of Digital World’s consummation of an initial business combination and its liquidation, to make available to Digital World certain general and administrative services, including office space, utilities and administrative services, as Digital World required from time to time. Digital World agreed to pay the affiliate of the Sponsor $15.0 per month for these services. The agreement with the Sponsor was terminated on April 5, 2023, $221.0 was unpaid as of March 31, 2026.
Advances
During 2022, the Sponsor paid, on behalf of Digital World, $470.8 to a vendor for costs incurred by Digital World and $41.0 directly to Digital World. As of March 31, 2026, our obligation to the Sponsor for such payments was outstanding in the amount of $41.0.
M&A Advisory Fee
We entered into an agreement with Yorkville Securities, LLC (“Yorkville Securities”) to serve as M&A Advisor in connection with the pending merger with TAE Technologies, Inc. in December 2025. In exchange for the M&A advisory services provided by Yorkville Securities we agreed to pay Yorkville Securities a fee equal to 6,000,000 shares of our common stock in the event (a) a Transaction is consummated prior to the termination of the Engagement Period or within twelve (12) months following the termination of the Engagement Period or (b) the Company, prior to the termination of the Engagement Period or within twelve (12) months following the termination of the Engagement Period, enters into an agreement with respect to a potential Transaction and such Transaction is subsequently consummated. As of March 31, 2026, an event requiring payment of the fee has not been triggered.
Yorkville America Transactions
Yorkville America, LLC (“Yorkville America”) serves as the Registered Investment Advisor for investment vehicles and financial products that utilize our Truth.Fi and certain Truth Social intellectual property, where we are the primary beneficiary. We paid certain compensation, professional fees, and expense reimbursement totaling $103.9 and $0.0 for the periods ended March 31, 2026 and 2025, to affiliates of Yorkville America related to the management of our VIE. No amounts were payable to affiliates of Yorkville America as of March 31, 2026 and December 31, 2025.
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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LONG-TERM DEBT |
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| LONG-TERM DEBT [Abstract] | |||||||||||||||||||||||||||||||||||||||||
| LONG-TERM DEBT | NOTE 10 – LONG-TERM DEBT
Convertible Notes
On May 29, 2025, we entered into an Indenture, providing $1,000,000.0 in 0.00% convertible senior secured notes due on May 29, 2028 (the “Notes”), unless earlier repurchased or converted. The Notes carry a 4.00% original issuance discount. Each Note holder has the right at its option, to require us to repurchase its Notes for cash on November 30, 2026, at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, subject to the terms and conditions in the Indenture.
Each holder of the Notes may at their option convert such holder’s Notes into shares of our common stock at a conversion rate of 28.8 shares per $1.0 of Notes. We retain the right to force conversion if, at any time after November 29, 2025, the last reported sale price of our common stock exceeds 130% of the conversion rate for any 20 consecutive trading days during a 30-day trading period. In addition, if certain corporate events that constitute a “Make-Whole Fundamental Change” occur, then the conversion rate will, in certain circumstances, be increased for a specified period of time.
Within 45 days of closing, we were required to have a Loan-to-Collateral Ratio of less than or equal to 1.0 to 1.0, with the Loan-to-Collateral Ratio calculated as the aggregate outstanding principal balance of all Notes divided by the sum of (i) the aggregate market value of bitcoin collateral multiplied by 0.5263157895, plus (ii) the aggregate value of all of cash and cash equivalents collateral. Required collateral of $1,000,000.0 was delivered to the Collateral Agent within 45 days of closing. We have utilized this cash delivered to the Collateral Agent to purchase bitcoin and bitcoin related assets to serve as collateral in order to meet our Loan-to-Collateral Ratio. As of March 31, 2026, we have $30,533.5 of restricted cash, $268,940.0 of equity securities, and $288,950.5 of bitcoin serving as collateral. Portions of the collateral will be released when the outstanding aggregate principal balance of all Notes is at $500,000.0 or less, and an additional portion will be released when the outstanding aggregate principal of all Notes is $250,000.0 or less. Collateral will be automatically released upon payment in full of the principal, together with accrued and unpaid interest in the event of default, if any, on the Notes. We are also subject to other customary covenants under the terms of the Indenture.
For the three months ended March 31, 2026, we accreted $11,368.3 of interest expense on the Notes. The effective interest rate of the Notes is 4.80% per annum. The estimated fair value of the Notes as of March 31, 2026 was $942,186.5, and is based on unobservable inputs in which there is little or no market data and therefore is classified as a Level 3 fair value measurement.
Term Loan
We assumed a loan from our business combination with WorldConnect Technologies, LLC. As of March 31, 2026 and December 31, 2025, the term loan had a carrying amount of $5,324.6 and $5,223.1, respectively, with $4,873.4 and $4,780.5 of the term loan due within 12 months of March 31, 2026 and December 31, 2025, respectively. For the three months ended March 31, 2026 and 2025, we accreted interest expense of $101.5 and $186.8, respectively, related to the term loan.
The term loan carries an effective interest rate of 7.72% per annum.
Future minimum payments of the long-term debt as of March 31, 2026 are as follows:
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- References No definition available.
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- Definition The entire disclosure for long-term debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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LOSS PER SHARE |
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| LOSS PER SHARE [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
| LOSS PER SHARE | NOTE 11 – LOSS PER SHARE
Basic loss per share is calculated by dividing net loss by the weighted average number of shares of stock outstanding during the period. We computed diluted earnings per share of common stock based on
the weighted average number of shares of stock outstanding plus potentially dilutive shares of stock outstanding during the period. Potentially dilutive shares of stock from employee incentive plans are determined by applying the treasury stock
method to the assumed vesting of outstanding RSUs, convertible notes and warrants. Since we incurred a net loss for the periods ended March 31, 2026 and 2025 all potential dilutive shares are anti-dilutive.
Total common stock equivalents excluded from dilutive loss per share are as follows:
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- References No definition available.
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- Definition The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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STOCKHOLDERS' EQUITY |
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| STOCKHOLDERS’ EQUITY [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| STOCKHOLDERS' EQUITY | NOTE 12 – STOCKHOLDERS’ EQUITY
The following table summarizes warrant activity:
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- References No definition available.
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- Definition The entire disclosure for equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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STOCK BASED COMPENSATION |
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| STOCK BASED COMPENSATION [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| STOCK BASED COMPENSATION | NOTE 13 – STOCK BASED COMPENSATION
2024 Equity Incentive Plan
The following table summarizes stock award activity:
The aggregate fair value of awards that vested in the three months ended March 31, 2026 was $2,034.1, which represents the market value of our common stock on the date that the RSUs vested. The grant-date fair value of awards that vested in the three months ended March 31, 2026 was $7,285.6. The number of RSUs vested includes shares of common stock that we withheld from employees to satisfy the minimum statutory tax withholding requirements.
As of March 31, 2026, unrecognized compensation expense related to non-vested equity grants was $55,832.9 with an expected remaining weighted-average recognition period of approximately 1.64 years.
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- Definition The entire disclosure for share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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INVESTMENT INCOME/(LOSS) |
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| INVESTMENT INCOME/(LOSS) [Abstract] | ||||||||||||||||||||||||||||||||||||
| INVESTMENT INCOME/(LOSS) | NOTE 14 – INVESTMENT INCOME/(LOSS)
Investment income/(loss) consists of the following:
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- References No definition available.
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- Definition The entire disclosure for investment income (loss) for enterprises that derive a significant portion of their revenue from interest collected on investments, loans, and securities. No definition available.
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COMMITMENTS AND CONTINGENCIES |
3 Months Ended |
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Mar. 31, 2026 | |
| COMMITMENTS AND CONTINGENCIES [Abstract] | |
| COMMITMENTS AND CONTINGENCIES | NOTE 15 - COMMITMENTS AND CONTINGENCIES
We are involved in various legal proceedings arising in the normal course of business. Although the outcomes of these legal proceedings are inherently difficult to predict, management does not expect
the resolution of these legal proceedings to have a material adverse effect on our financial position, results of operations, or cash flows.
Litigation with ARC, Patrick Orlando, UAV, Andrew Litinsky, and Wesley Moss in Florida
On February 26, 2024, representatives of ARC Global Investments II, LLC (“ARC”) claimed to Digital World that after a “more comprehensive” review, the conversion ratio for Digital World Class B common stock into Digital World Class A common stock upon the completion of the Initial Business Combination was approximately 1.8:1. ARC’s new claim also contradicted the previous assertion by Patrick Orlando, the managing member of ARC, that the conversion ratio was 1.68:1. Digital World’s board of directors viewed these claims as an attempt by Mr. Orlando to secure personal benefits, breaching his fiduciary duty to Digital World and its shareholders. Digital World and Private TMTG initiated a lawsuit against ARC in the Civil Division for the Twelfth Judicial Circuit Court in Sarasota County, Florida, on February 27, 2024 (Docket No. 2024-CA-001061-NC). The complaint sought a declaratory judgment affirming the appropriate conversion ratio as 1.34:1, as previously disclosed, damages for tortious interference with the contractual and business relationship between Private TMTG and Digital World, and damages for conspiracy with unnamed co-conspirators to interfere with the same. The complaint also sought damages for Mr. Orlando’s breach of fiduciary duty, which exposed Digital World to regulatory liability and resulted in an $18 million penalty, and for his continuous obstruction of Digital World’s merger with Private TMTG to extort various concessions that benefited only him and harmed Digital World and its shareholders. Furthermore, the complaint sought damages for the wrongful assertion of dominion over Digital World’s assets inconsistent with Digital World’s possessory rights over those assets. On March 8, 2024, Digital World voluntarily dismissed its declaratory judgment claim against ARC. On March 17, 2024, Digital World and Private TMTG filed an amended complaint, adding a claim for violation of Florida’s Deceptive and Unfair Trade Practices Act. Digital World further alleged breach of fiduciary duty of loyalty, breach of fiduciary duty of care, and conversion claims against Mr. Orlando. With respect to ARC, Digital World alleged aiding and abetting a breach of fiduciary duty. On April 3, 2024, Defendants ARC and Mr. Orlando filed a joint motion to dismiss the amended complaint or, in the alternative, to stay the proceeding pending the Delaware Action (C.A. No. 2024-0184-LWW). Defendants ARC and Mr. Orlando also filed that same day a motion to stay discovery in the action.
On May 29, 2024, Digital World moved to compel discovery from ARC and Mr. Orlando. On July 15, 2024, following a July 10 hearing, the Court entered an order denying the motion to stay discovery and motion to compel. On July 29, 2024, the Court entered an order denying the motion to dismiss or, in the alternative, to stay the proceeding for improper venue. Defendants ARC and Mr. Orlando appealed that order (C.A. No. 2D2024-1780), which the Second District denied on April 30, 2025. On August 2, 2024, Defendants ARC and Mr. Orlando filed a motion to stay pending appeal in the trial court. On July 31, 2024, Digital World and Private TMTG filed a motion for leave to file a second amended complaint, which proposed to add allegations against ARC and Mr. Orlando related to pre-targeting and other misconduct as set forth in the SEC Complaint against Mr. Orlando, and naming UAV, Andrew Litinsky, and Wesley Moss as additional defendants. On August 15, 2024, Digital World and Private TMTG filed a motion for temporary injunction seeking to enjoin the threatened sale of Digital World stock by Defendant ARC and one of the new defendants proposed to be added through the motion for leave to file a second amended complaint. On August 28, 2024, Digital World and Private TMTG filed a renewed motion to compel, seeking prior productions to the SEC and DOJ and other documents from Defendants ARC and Mr. Orlando, which the Court granted in part and denied in part on July 16, 2025. On August 30, 2024, the trial court held a hearing to address several motions. During the hearing, the Court granted Digital World and Private TMTG’s motion for leave to amend and denied their motion for temporary injunction. The trial court also denied the motion to stay pending appeal filed by Defendants ARC and Mr. Orlando. On September 3, 2024, Digital World and Private TMTG filed the Second Amended Complaint. On September 4, 2024, Digital World and Private TMTG filed an expedited motion to compel, seeking production of ARC’s capitalization table, supporting documents, and an order requiring ARC to cooperate with Digital World and Private TMTG in advance of the expiration of the lock-up restriction. On September 5, 2024, Defendants ARC and Mr. Orlando filed a motion to stay pending appeal in the Second District Court of Appeal, which the Second District denied on October 18, 2024 (C.A. No. 2D2024-1780). On September 12, 2024, the Court granted in part and denied in part the expedited motion to compel, ordering production of the capitalization table and supporting documents by September 13, 2024, at 12 p.m. On that same day, Defendants ARC and Mr. Orlando filed a notice of removal in the Middle District of Florida (C.A. No. 8:24-cv-02161). On September 13, 2024, Digital World and Private TMTG filed an emergency motion to remand to state court in the Middle District of Florida, which the Middle District granted on September 17, 2024. On September 18, 2024, Digital World and Private TMTG filed an emergency motion for temporary injunction and contempt against ARC and Mr. Orlando in the state court action. On that same day, the Court held a hearing during which it granted Digital World and Private TMTG’s motion for contempt, imposed a coercive sanction against ARC and Mr. Orlando of $5,000 per day until they complied with the Court’s September 12 discovery order, and denied their motion for temporary injunction. Defendants ARC and Mr. Orlando have filed an appeal of that order, which the Court denied on June 13, 2025 and issued a mandate regarding the denial on July 8, 2025 (C.A. No. 2D2024-2364).
On September 20, 2024, ARC filed its answer, defenses, and affirmative defenses to the Second Amended Complaint. On October 1, 2024, Digital World and Private TMTG filed a motion for an order to show
cause why ARC and Mr. Orlando should not be held in further contempt and subject to increased sanctions for their failure to comply with the Court’s September 18 contempt order. On October 3, 2024, Mr. Orlando filed an amended motion to dismiss the
Second Amended Complaint or, alternatively, to stay the action. On October 15, 2024, ARC filed an amended answer, defenses, and affirmative defenses to the Second Amended Complaint, counterclaim, and third-party complaint, naming 9 additional
defendants: Luis Orleans-Braganza, Lee Jacobson, Bruce J. Garelick, Justin Shaner, Eric Swider, Rodrigo Veloso, Ed Preble, Frank Andrews, and Jeffrey Smith. On October 21, 2024, UAV, Mr. Moss, and Mr. Litinsky jointly filed 3 motions: a motion to
dismiss the Second Amended Complaint for failure to state a cause of action, motion to stay pending resolution of the Delaware Action, and motion to dismiss for improper venue. On November 1, 2024, Digital World and Private TMTG filed a
supplemental brief in support of the October motion for order to show cause and a fee petition to recover attorneys’ fees pursuant to the September 18 contempt order.
On November 18, 2024, the Court granted in part the October motion for order to show cause, ordering, inter alia, the appointment of a third-party vendor to re-collect all devices and files from ARC and Mr. Orlando and run search terms and a sanction against ARC and Mr. Orlando of $5,000 per day from September 18 to November 8, 2024. Defendants ARC and Mr. Orlando filed a motion for leave to amend their petition to appeal the September 18 order to include an appeal of the November 18 order, which the Court denied on February 5, 2025 (C.A. No. 2D2024-2364).
On January 22, 2025, the Court held a hearing during which it heard the motion to stay pending resolution of the Delaware Action and scheduled an omnibus hearing to hear outstanding motions on March
7, 2025. At the January 22, 2025 hearing, the Court entered a temporary administrative stay of discovery as to Mr. Litinsky, Mr. Moss, and UAV pending its resolution of their motion to stay. On February 10, 2025, Mr. Orlando and ARC filed an appeal
of the Court’s November 18 order, which the Second District denied on April 24, 2025 (C.A. No. 2D2025-0314).
On February 19, 2025, the Court denied the October 3 motion to stay filed by Mr. Orlando and the October 21 motion to stay filed by UAV, Mr. Moss, and Mr. Litinsky, finding that this action and the
Delaware Action do not “involve substantially similar issues.”
On March 7, 2025, the Court held an omnibus hearing to address outstanding motions. Following the March 7 hearing, the Court entered several orders. It denied the motions to dismiss for improper
venue filed by Mr. Orlando on October 3 and UAV, Mr. Moss, and Mr. Litinsky on October 21. The Court also denied the motions to dismiss for failure to state a claim filed by Mr. Orlando on October 3 and UAV, Mr. Moss, and Mr. Litinsky on October
21. The Court granted the motions to dismiss the third-party complaint filed on behalf of Lee Jacobson, Bruce J. Garelick, Eric Swider, Rodrigo Veloso, Ed Preble, Frank Andrews, and Jeffrey Smith but provided leave to amend. The Court also granted
in part the motion to dismiss ARC’s counterclaims, dismissing Count V of the counterclaims.
On March 21, 2025, UAV, Mr. Moss, and Mr. Litinsky appealed Court’s February 19, 2025 order denying a stay (C.A. No. 2D2025-0735) in the Second District but later filed a voluntary motion to dismiss,
which the Second District granted on September 10, 2025. On March 26, 2025, UAV, Mr. Moss, and Mr. Litinsky filed an unopposed motion to amend their March 21 petition, which the Second District granted on April 17, 2025.
On May 29, 2025, ARC and Mr. Orlando appealed the Second District’s April 30 order, which the Supreme Court of Florida denied on March 9, 2026 (SC2025-0757).
On July 15, 2025, the Court entered an order granting in part outstanding motions to dismiss Counterclaims and Third-Party Claims brought by UAV, Mr. Litinsky, Mr. Moss, ARC, and Mr. Orlando and
dismissing all Third-Party Defendants including President Trump. Specifically, the Court dismissed Counts 1 and 7-8 of UAV, Mr. Litinsky, and Mr. Moss’s Counterclaims with prejudice, dismissed Counts 2-6 and 9 of UAV, Mr. Litinsky, and Mr. Moss’s
Counterclaims without prejudice with no leave to replead, dismissed Counts 5-11 of ARC’s Counterclaims without prejudice, and dismissed ARC and Mr. Orlando’s Third-Party Claims with prejudice.
On July 25, 2025, Digital World and Private TMTG filed a motion for protective order on deposition discovery, which the Court granted in part on August 25, 2025.
On July 28, 2025, ARC filed its Second Amended Answer, Defenses, and Affirmative Defenses to Plaintiffs’ Second Amended Complaint and its Second Amended Counterclaims.
On August 7, 2025, Digital World and Private TMTG filed a motion to dismiss ARC’s Second Amended Counterclaims, which the Court granted as to counts 5 and 6 on September 24, 2025.
On August 14, 2025, UAV, Mr. Litinsky, and Mr. Moss filed an appeal in the Second District as to the July 15, 2025 motion to dismiss order (C.A. No. 2D2025-2192), which the Second District dismissed
on December 10, 2025 pursuant to the December 9, 2025 stipulation of voluntary dismissal. The Court filed another order confirming dismissal of the Second District action on February 5, 2026.
On August 20, 2025, ARC filed its Third Amended Answer, Defenses, and Affirmative Defenses to Plaintiffs’ Second Amended Complaint, and Mr. Orlando filed his Second Amended Answer, Defenses, and
Affirmative Defenses to Plaintiffs’ Second Amended Complaint.
On September 5, 2025, President Trump filed a motion to quash a subpoena directed to him, which the Court granted on October 6.
On September 11, 2025, UAV, Mr. Litinsky, and Mr. Moss filed an Amended Answer. On September 16, 2025, Iowa and 19 other states filed an amici curiae brief in support of President Trump’s September 5
motion to quash.
On September 17, 2025, Digital World and Private TMTG filed a motion to sever and stay ARC’s Second Amended Counterclaims, which the Court reserved ruling on in a February 2, 2026 Order, indicating
that the motion may be “relitigated on the eve of trial.”
On September 18, 2025, the United States filed a statement of interest in support of President Trump’s September 5 motion to quash. On September 19, 2025, the Court stayed President Trump’s
deposition.
On September 26, 2025, ARC and Mr. Orlando filed a motion for partial summary judgment as to extortion claims filed by Digital World and Private TMTG, which the Court denied during the February 12
hearing and memorialized in an order entered on February 27.
On September 29, 2025, Digital World and Private TMTG filed a memorandum regarding whether the appearance of Gunster, Yoakley, & Stewart PA (“Gunster”) required the Court’s recusal.
On October 7, 2025, ARC and Mr. Orlando filed a motion to disqualify the Honorable Hunter W. Carroll, which the Court granted on October 10. On October 14, 2025, the case was reassigned to the
Honorable Diana Moreland. Also on October 14, Digital World and Private TMTG filed a motion to disqualify Gunster and reassign the action to Judge Carroll.
On October 21, 2025, Digital World and Private TMTG filed an emergency petition for writ of mandamus in the Second District (C.A. No. 2D2025-2814) requesting the court quash Judge Carroll’s order
recusing himself. On that same date, Mr. Orlando and ARC filed a motion for leave to issue a subpoena to President Trump or, in the alternative, to stay the case, which the Court denied on February 17, 2026. On October 23, 2025, the Second District
denied Digital World and Private TMTG’s request for expedited treatment of the October 21 petition (C.A. No. 2D2025-2814).
On October 31, 2025, Judge Moreland held a hearing where she, inter alia, extended trial deadlines and ordered the parties to submit candidates for Special Magistrate.
On November 10, 2025, ARC and Mr. Orlando filed a motion for reconsideration of Judge Carroll’s September 24 order granting the motion to dismiss ARC’s Second Amended Counterclaims.
On November 14, 2025, Mr. Orlando filed a motion seeking leave to file a Third Amended Answer, Defenses, and Affirmative Defenses to the Second Amended Complaint, which the Court granted during the
February 3 hearing and memorialized in an order entered on February 24.
On November 26, 2025, the Second District denied the October 21 petition (C.A. No. 2D2025-2814).
On December 4, 2025, Digital World, Private TMTG, UAV, Mr. Litinsky, and Mr. Moss notified the Court that they reached a settlement resolving all claims asserted between them and, on December 9,
stipulated to dismissal of those claims.
On December 9, 2025, the Court held a hearing that resulted in an order denying in part and granting in part the November 10 motion to reconsider the order granting the motion to dismiss.
On January 29, 2026, Mr. Orlando filed a motion for partial summary judgment as to the claims seeking recovery of legal fees advanced to Mr. Orlando.
On February 11, 2026, ARC and Mr. Orlando filed a motion for extension of time, seeking a 30-day extension of time of (1) the expert report deadlines, (2) the fact discovery deadline, and (3) the
summary judgment deadline, which the Court granted during the February 19 hearing and memorialized in an order entered on March 4.
On February 13, 2026, Plaintiffs’ filed a Reply to Mr. Orlando’s Third Amended Answer, Affirmative Defenses, and Additional Defenses.
On February 18, 2026, ARC moved to stay these proceedings pending a resolution of its demand for arbitration submitted to the American Arbitration Association, which the Court granted in part and
denied in part during the March 3 hearing and memorialized in an order entered on March 19 (Case No. 01-25-0009-1364).
On March 2, 2026, Mr. Orlando and ARC filed a motion for continuance of the trial and pre-trial dates, which the Court granted on April 16, 2026.
On March 5, 2026, ARC filed a motion for reconsideration of the Court’s March 3 motion to stay ruling. The Court denied the motion for reconsideration on March 9, 2026.On March 6, 2026, Plaintiffs
filed a motion to vacate the March 3 motion to stay ruling, which the Court denied on March 31, 2026.
On March 17, 2026, Mr. Orlando and ARC filed a renewed motion for leave to issue a subpoena to President Trump or, alternatively, to stay the case.
On March 26, 2026, Mr. Orlando and ARC appealed the February 17 order denying leave to issue a subpoena to President Trump (C.A. No. 2D2026-0787). On March 29, 2026, Mr. Orlando and ARC filed a
motion for contempt and sanctions, alleging that Plaintiffs failed to produce certain documents.
On April 2, 2026, Mr. Orlando and ARC filed a motion to stay pending appellate review of the February 17 order denying leave to issue a subpoena to President Trump. On that same date, Mr. Orlando and
ARC appealed the March 19 motion to stay order (C.A. No. 2D2026-0893).
On April 13, 2026, the Court denied the March 17 renewed motion for leave to issue a subpoena to President Trump and ordered Mr. Orlando and ARC to refrain from filing another motion to depose
President Trump until the conclusion of all discovery absent an emergent situation.
On April 28, 2026, in response to the March 29 motion for contempt and sanctions, the Court issued an order to show cause and deferred further ruling.
On May 4, 2026, the Court entered an order scheduling a mediation for June 12, 2026. A jury trial expected to last approximately three to five weeks, has been scheduled to begin in October 2026.
Litigation with Orlando in Delaware
On March 15, 2024, Plaintiff Patrick Orlando brought a lawsuit against Digital World in the Court of Chancery seeking advancement of legal fees associated with Mr. Orlando’s involvement in civil litigation against Digital World in Florida and certain other matters (the “Advancement Lawsuit”) (C.A. No. 2024-0264-CDW). Mr. Orlando’s allegations relate to certain provisions in the Digital World Charter, Digital World’s bylaws, and an indemnity agreement allegedly entered into between Mr. Orlando and Digital World. Mr. Orlando alleges that those certain provisions require Digital World to pay the legal fees Mr. Orlando incurred and will incur in connection with legal proceedings in which he is involved by reason of the fact that he is or was a director or officer of Digital World. Mr. Orlando seeks a court order that (i) declares that he is entitled to legal fees for certain proceedings described in the complaint, (ii) requires Digital World to pay for legal fees incurred and future legal fees to be incurred for those proceedings, (iii) requires Digital World to pay the fees incurred to bring the Advancement Lawsuit, and (iv) requires Digital World to pay pre- and post-judgment interest on the amounts owed to Mr. Orlando. On April 3, 2024, the Court of Chancery entered a Stipulation and Advancement Order (“Stipulation”) stating that Mr. Orlando is entitled to advancement of attorneys’ fees and costs incurred with legal proceedings described in the Stipulation, subject to Digital World’s right to challenge the reasonableness of those attorneys’ fees and costs. The Stipulation further states that Mr. Orlando is entitled to fees incurred in connection with enforcement of advancement rights and sets forth procedures that will govern future requests for advancement of attorneys’ fees and costs. As of May 6, 2026, TMTG had paid or agreed to pay approximately $30.5 million to Mr. Orlando’s attorneys pursuant to such Stipulation and TMTG’s other advancement obligations to Mr. Orlando. On April 23, 2024, Mr. Orlando filed a motion for leave to supplement the Advancement Lawsuit to add a claim for advancement of legal fees and expenses Mr. Orlando had incurred and would incur in connection with his defense of an action for declaratory judgment brought by members of ARC regarding Mr. Orlando’s removal as the managing member of ARC (the “ARC Removal Action”). Mr. Orlando also sought reimbursement for the legal fees and expenses incurred in connection with his supplement to the Advancement Lawsuit, and he sought pre-judgment and post-judgment interest on the amounts he claimed were owed to him. On August 1, 2024, plaintiffs in the ARC Removal Action dismissed their complaint without prejudice. On August 8, 2024, Mr. Orlando dismissed his supplemental claims in the Advancement Lawsuit without prejudice.
On February 10, 2025, Mr. Orlando filed a motion to modify the advancement order, seeking to modify the advancement order to allow him to not submit invoices for experts. On March 12, 2025, the Court
denied the motion in part, stating that “TMTG is entitled to have some concrete information allowing it to assess whether Mr. Orlando’s expenses are reasonable and related to DWAC/TMTG before making a payment” and ordering Mr. Orlando to “provide
TMTG with invoices with sufficient unredacted information that allows it to make that assessment.”
On March 31, 2025, Mr. Orlando filed a motion seeking advancement of certain disputed fees. On April 8, 2025, Mr. Orlando filed a motion for sanctions, which he subsequently withdrew. On June 23,
2025, Mr. Orlando filed another motion seeking advancement of certain disputed fees. On August 4, 2025, the Court held an oral argument to address the March 31 and June 23 motions disputing fees (the “Fee Motions”). On September 24, 2025, the Court
granted in part and denied in part the Fee Motions. On September 30, 2025, Digital World filed a notice of exception to the September 24 Order or, in the alternative, motion for reargument and entry of a final report, which the Court denied on
October 30, 2025. On November 4, 2025, Digital World filed a notice of exception to the October 30 Order denying the September 30 notice of exception.
On November 5, 2025, the Court reassigned the action to Vice Chancellor Fioravanti for the limited purpose of resolving the November 4 exception. On November 24, 2025 Digital World filed its opening
brief in support of the November 4 exception. On December 15, 2025, Mr. Orlando filed a motion to strike that opening brief, which the Vice Chancellor denied on January 30, 2026.
On December 7, 2025, Mr. Orlando filed a motion for contempt and sanctions, which the Magistrate granted in a bench ruling on January 5, 2026 that was memorialized in a January 12 order.
On December 31, 2025, Mr. Orlando filed another motion seeking advancement of certain disputed fees, which is fully briefed.
On January 8, 2026, Digital World filed an exception to the January 5 contempt order, which has been fully briefed. On January 20, 2026, the Court ordered the Magistrate to conduct a procedural review
of the January 9 exception.
On January 21, 2026, the Magistrate recommended that Vice Chancellor Fioravanti hear the November 4 exception and January 8 exception together. The Vice Chancellor heard argument concerning the
November 4 and January 8 exceptions on April 27, 2026 during which he requested supplemental briefing.
On March 6, 2026, Mr. Orlando filed a motion for additional sanctions, which has been fully briefed.
On March 31, 2026, Mr. Orlando filed another motion seeking advancement of certain disputed fees, which has been fully briefed.
Litigation with Orlando and Benessere in Miami, Florida
On April 2, 2024, Patrick Orlando and Benessere Investment Group, LLC (“Benessere”) filed suit against TMTG in the Circuit Court of the Eleventh Judicial District in Miami-Dade County Florida (Docket
No. 2024-005894-CA-01). Mr. Orlando and Benessere sought a declaratory judgment that TMTG is restricted from disclosing material exchanged with Mr. Orlando and Benessere pursuant to a joint defense agreement previously entered into by the parties
in addition to a request for damages for any breach of the joint defense agreement. On July 1, 2025, the parties filed a joint stipulation, agreeing to dismiss the case with prejudice pursuant to a confidential settlement agreement. On September 3,
2025, the Court dismissed the case. On December 2, 2025, Mr. Orlando and Benessere filed a motion to enforce the settlement agreement, which the Court has set for hearing on May 14, 2026.
Arbitration with ARC in New York
On December 1, 2025, ARC submitted to the American Arbitration Association (“AAA”) a demand for arbitration with TMTG regarding access to privileged communications with a law firm that
represented DWAC (Case Number: 01-25-0009-1364). On January 12, 2026, the AAA appointed Marilyn Salzman as the arbitrator to conduct a hearing in New York County, New York. The arbitrator has set a status conference for June 5, 2026.
Potential AAA Arbitration with Rejuve
On April 28, 2026, RejuveTotal LLC sent a letter to Trump Media Technology Group Corp. demanding that TMTG release its claims pending in the Sarasota Action (Docket No. 2024-CA-001061-NC). Rejuve claimed authority
to release such claims based on Section 10.14 of the October 20, 2021 Merger Agreement between Digital World, DWAC Merger Sub Inc., Private TMTG, Private TMTG’s Chief Legal Officer, and ARC Global Investments II, LLC. To the extent TMTG does not
release its claims, Rejuve threatened to submit the dispute to the American Arbitration Association.
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- Definition The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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SEGMENT INFORMATION |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| SEGMENT INFORMATION [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEGMENT INFORMATION | NOTE 16 – SEGMENT INFORMATION
We report our operating results through two reportable segments: Media and Truth.Fi:
The “Corporate & Other” category presented in the following tables is not considered an operating segment. It consists primarily of costs and expenses related to executing our digital asset treasury
strategy and includes the realized and unrealized gains and losses from our digital asset treasury strategy, third-party costs associated with our digital asset holding strategy, net interest expense primarily related to long-term debt obligations
(used to fund our digital asset treasury strategy), and income tax effects generated from our digital asset treasury strategy and related debt issuance. We have not dedicated certain corporate resources to our digital asset treasury strategy.
Our Chief Operating Decision Maker (CODM), as of March 31, 2026, is our Chief Executive Officer. Our CODM evaluates the performance of and allocates resources to our segments based on each segment’s
earnings before interest, taxes, depreciation and amortization (Segment EBITDA). Segment EBITDA is defined as segment revenue less operating costs and expenses, excluding depreciation and amortization, interest income or expense (net), provision or
benefit for income taxes, change in fair value of derivative liabilities, loss on extinguishment of debt and stock-based compensation expense. We believe Segment EBITDA serves as a measure that assists our CODM and our investors in comparing our
segment performance on a consistent basis.
Our CODM uses cash, cash equivalents, restricted cash, short-term investments, and equity securities as part of the evaluation of performance and allocation of resources within our corporate & other category. Total assets are not used to evaluate the performance of our segments. For the three months ended March 31, 2026, our Media segment earned revenue of $617.5 and $192.6 from advertising and subscriptions, respectively, with our Truth.Fi segment earning management fees of $61.1. All revenue for the three months ended March 31, 2025, were earned in the Media segment from advertising.
Review of cash forecast models is used to assess the segment’s results and performance and inform investment decisions by our CODM. Consolidated net loss and Segment EBITDA are used to monitor budgeted
versus actual results. Additionally, review of budgeted versus actual results is used in assessing performance of the segment. The following table presents our segment information for the periods indicated:
The following table provides information related to our cash, cash equivalents, restricted cash, short-term investments, and equity securities:
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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SUBSEQUENT EVENTS |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| SUBSEQUENT EVENTS [Abstract] | |
| SUBSEQUENT EVENTS | NOTE 17 - SUBSEQUENT EVENTS
On April 6, 2026, Eric Swider resigned from the Board of Directors of TMTG (the “Board”), effective immediately. Mr. Swider’s resignation did not arise from or relate to a dispute with management or the Board.
On April 21, 2026, TMTG announced that, as of such date, Kevin J. McGurn will serve as Interim Chief Executive Officer and succeed Devin Nunes as the Company’s principal executive officer. The Company and Mr. Nunes entered into a Separation and Release Agreement (the “Separation Agreement”), dated as of April 21, 2026, pursuant to which Mr. Nunes ceased to be an employee, officer or director of the Company or any subsidiary or affiliate of the Company—including Chairman of the Board. Upon his separation from the Company pursuant to the Separation Agreement, Mr. Nunes is entitled to continuation of his base salary from April 21, 2026, through September 30, 2026. Additionally, the Separation Agreement provides for accelerated vesting of 96,721 time-based RSUs granted to Mr. Nunes on August 6, 2025 under the Company’s 2024 Amended & Restated Equity Incentive Plan, and the forfeiture of all other unvested equity.
Also on April 21, 2026, the Board appointed Mr. McGurn to serve as Interim Chief Executive Officer of the Company, effective immediately. In connection with Mr. McGurn’s appointment, the Company and Mr. McGurn entered
into an Employment Agreement, effective as of April 21, 2026, which provides for an initial employment term of nine months.
Effective April 24, 2026, the Board appointed Meredith O’Rourke and Boris Epshteyn as members of the Board. Mr. Epshteyn was subsequently appointed Chairman of the Board, effective April 30, 2026.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Insider Trading Arrangements |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
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Accounting Policies, by Policy (Policies) |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES [Abstract] | |
| Basis of Presentation | Basis of Presentation The accompanying unaudited condensed consolidated financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and
pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Our interim financial statements are unaudited, and in our opinion, include all adjustments of a normal recurring nature necessary for the fair presentation of the periods presented. The results for
the interim periods are not necessarily indicative of the results to be expected for any subsequent period or for the year ending December 31, 2026. These unaudited condensed consolidated financial statements and related notes should be read in conjunction with our audited consolidated financial statements and related notes included in our Annual Report on Form 10-K
for the year ended December 31, 2025 (as amended the “Annual Report”).
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| Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, the fair value of assets acquired and liabilities assumed in business acquisitions, the assessment of recoverability of our goodwill and
long-lived assets, and the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the
results of which form the basis for making judgments about the carrying value of assets, liabilities, and equity that are not readily apparent from other sources. Actual results could differ from those estimates. Material estimates and assumptions
reflected in the condensed consolidated financial statements relate to and include, but are not limited to, fair value of intangible assets acquired in business acquisitions, recoverability of goodwill and intangibles, fair value of short-term
investments and equity securities, digital assets, digital assets pledged, the fair value of our option liabilities, useful lives of intangibles and depreciable assets, and stock-based compensation.
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| Principles of Consolidation | Principles of Consolidation The condensed consolidated financial statements include the financial statements of the Company, its wholly owned subsidiaries, and a VIE in which we are deemed the primary beneficiary, have been
prepared in accordance with U.S. GAAP. All intercompany transactions and balances have been eliminated.
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| Unearned revenue | Unearned revenue Unearned revenue primarily consists of billings or payments received from customers, or services provided in a barter transaction, in advance of revenue recognized for the services provided to our customers or annual licenses and is recognized as services are performed or ratably over the life of the license. We generally invoice customers in advance or in milestone-based installments. Unearned revenue of $30.4 was recognized as revenue for the three months ended March 31, 2026, which was included in the unearned revenue balance as of December 31, 2025. As of March 31, 2026, unearned revenue is expected to be recognized during the succeeding 12-month period and is therefore presented as a current liability on the condensed consolidated balance sheets.
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| Options | Options We manage our exposure to bitcoin price fluctuation through derivative instruments on bitcoin and bitcoin related securities, as part of our digital asset treasury strategy. In order to manage this
risk, we sell covered put and covered call options, purchase call and put options, use a synthetic long strategy that uses a combination of a purchased call option and a sold put option which provides us exposure to increases in bitcoin prices while
limiting downside risk should the price decrease, or use a collar strategy that uses a combination of a purchased put option and a sold call option which provides us protection from downside risk. Written covered put and call options on bitcoin related securities generate premium income and allow us to purchase bitcoin related securities at lower effective prices. The put options are covered by
cash collateral to cover potential purchases and the call options are covered by our ownership in the underlying security. In exchange for this commitment, we receive premiums immediately paid in cash. The difference between the premium received and
the amount paid while affecting a closing purchase transaction, including brokerage commissions, is also treated as a realized investment gain or loss. This premium acts as income, increasing our investment yield. If the written option expires
worthless, we keep the full premium as profit with no obligation to purchase. If a put option is exercised, we buy the security at the strike price using the cash collateral, and the premium received reduces the effective cost basis, allowing us to
acquire the securities at a discount compared to direct market purchases. If a written call option is exercised, we sell the security at the strike price using our existing holdings of the security, and the premium received reduces any loss or
increases any gain we may incur. The writer of an option bears the market risk of an unfavorable change in the price of the underlying security. The aggregate fair value of unexpired options written are included in accounts payable and accrued expenses in the consolidated balance sheets. Cash held as collateral for written options is classified as restricted cash on the consolidated balance sheet. Securities held as collateral for outstanding call options are presented within equity securities on the consolidated balance sheet. As of March 31, 2026 and December 31, 2025, we had $0.0 and $951.6 of restricted cash covering our unexpired put options, respectively. We had $438,522.0 and $566,700.1 of equity securities, and $271,268.6 and $350,600.8 of digital assets restricted to cover unexpired call options as of March 31, 2026 and December 31, 2025, respectively.
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| Concentrations of risks | Concentrations of risks Our financial instruments exposed to concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. Although we deposit cash and cash equivalents with multiple
banks, these deposits may exceed the amount of Federal Deposit Insurance Corporation limits provided on such deposits. Digital assets, digital assets pledged, and equity securities represent a significant holding, constituting approximately 62.1% and 68.5% of our total assets as of March 31, 2026 and December 31, 2025, respectively. One advertising platform accounted for 66.5% and 93.0% of our total revenue for the three months ended March 31, 2026 and 2025, respectively. In order to reduce the risk of downtime of the products we provide, we have established data centers in various geographic regions. We have internal procedures to restore products in the event of a
service disruption or disaster at any of our data center facilities. We serve our customers and users from data center facilities operated either by us or third parties. Even with these procedures for disaster recovery in place, the availability of
our products could be significantly interrupted during the implementation of restoration procedures.
|
| Recently adopted and issued accounting standards | Recently adopted accounting standards In November 2024, the FASB issued ASU 2024-04, Debt-Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. ASU
2024-04 clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. We adopted ASU 2024-04 on January 1, 2026. The adoption of this ASU did not have a
material impact on our condensed consolidated financial statements and disclosures. In May 2025, the FASB issued ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810): Determining
the Accounting Acquirer in the Acquisition of a Variable Interest Entity. ASU 2025-03 revises current guidance for determining the accounting acquirer for a transaction effected primarily by exchanging equity interests in which the legal acquiree is
a variable interest entity that meets the definition of a business. The amendments require that an entity consider the same factors that are currently required for determining which entity is the accounting acquirer in other acquisition transactions.
The ASU is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods. We adopted ASU 2025-03 on January 1, 2026. The adoption of this ASU did not have a material
impact on our condensed consolidated financial statements and disclosures. In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurements of Credit Losses for Accounts Receivable and Contract Assets.
This update provides a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under ASC 606. We adopted ASU 2025-05 on prospective
basis on January 1, 2026. The adoption of this ASU did not have a material impact on our condensed consolidated financial statements and disclosures. Recently issued accounting standard In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements. This update clarifies the applicability of Topic 270
and the form and content of interim financial statements. In addition, ASU 2025-11 requires entities to disclose material events occurring since the last annual reporting period. ASU 2025-11 will be effective for interim periods beginning January
1, 2028, and can be applied on a prospective or retrospective basis. We are evaluating the disclosure impact of ASU 2025-11; however, the standard will not have an impact on our consolidated financial statements.
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| X | ||||||||||
- Definition Disclosure of accounting policy for unearned Revenue. No definition available.
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- References No definition available.
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- Definition Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for credit risk. Includes, but is not limited to, policy for entering into master netting arrangement or similar agreement to mitigate credit risk of financial instrument. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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- Definition Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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FAIR VALUE MEASUREMENT (Tables) |
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| FAIR VALUE MEASUREMENT [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurement | The valuation techniques used by us when measuring fair value maximize the use of observable inputs and minimize the use of unobservable inputs.
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- References No definition available.
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- Definition Tabular disclosure of information about asset and liability measured at fair value under fair value option. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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DIGITAL ASSETS (Tables) |
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Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DIGITAL ASSETS [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Digital Asset Holdings | Our digital asset holdings as of March 31, 2026 and December 31, 2025 consist of the following:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reconciliation of Digital Asset Holdings | The following table presents a reconciliation of our digital asset holdings:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of information about activity for crypto asset. Excludes information about crypto asset held for platform user. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Tabular disclosure of information about crypto asset. Includes, but is not limited to, name, cost basis, fair value, and number of units held. Excludes information about crypto asset held for platform user. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
GOODWILL AND INTANGIBLE ASSETS (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GOODWILL AND INTANGIBLE ASSETS [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | The following table summarizes our goodwill balance:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Finite-lived Intangible Assets, Net | Finite-lived intangible assets, net are summarized as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Future Amortization Expense | Based on the balance of finite-lived intangible assets at March 31, 2026, expected remaining future amortization expense is as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACCOUNTS PAYABLE AND ACCRUED EXPENSES [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable and Accrued Expenses | Accounts payable and accrued expenses consisted of the following:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. No definition available.
|
LEASES (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LEASES [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Leases Included in Consolidated Balance Sheets | Operating leases are included in the consolidated balance sheets as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Lease Costs | The components of lease costs, which are included in loss from operations in our condensed consolidated statements of operations were as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Future Minimum Payments under Non-cancelable Leases for Operating Leases | Future minimum payments under non-cancellable leases for operating leases for the remaining terms of the leases following the three months ended March 31, 2026, are as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- Definition Tabular disclosure of information on lessee's operating leases, including carrying value of right-of-use assets and lease liabilities, right-of-use assets obtained in exchange for lease obligations, weighted-average remaining term and weighted-average discount rate. No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
LONG-TERM DEBT (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||
| LONG-TERM DEBT [Abstract] | |||||||||||||||||||||||||||||||||||||||||
| Future Minimum Payments of Long-term Debt | Future minimum payments of the long-term debt as of March 31, 2026 are as follows:
|
||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
LOSS PER SHARE (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||
| LOSS PER SHARE [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock Equivalents Excluded from Dilutive Earnings/Loss Per Share | Total common stock equivalents excluded from dilutive loss per share are as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
STOCKHOLDERS' EQUITY (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| STOCKHOLDERS’ EQUITY [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Warrant Activity | The following table summarizes warrant activity:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
STOCK BASED COMPENSATION (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| STOCK BASED COMPENSATION [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Stock Award Activity | The following table summarizes stock award activity:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
INVESTMENT INCOME/(LOSS) (Tables) |
3 Months Ended | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||
| INVESTMENT INCOME/(LOSS) [Abstract] | ||||||||||||||||||||||||||||||||||||
| Investment Income/(Loss) | Investment income/(loss) consists of the following:
|
|||||||||||||||||||||||||||||||||||
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Disclosure of tabular information presenting the components of investment income and loss, including realized and unrealized gains or losses, and other related investment return amounts. No definition available.
|
SEGMENT INFORMATION (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEGMENT INFORMATION [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Information | The following table presents our segment information for the periods indicated:
The following table provides information related to our cash, cash equivalents, restricted cash, short-term investments, and equity securities:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES (Details) - USD ($) |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Dec. 31, 2025 |
|
| SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES [Abstract] | |||
| Unearned revenue, revenue recognized | $ 30,400 | ||
| Deferred revenue reorganization period | 12 months | ||
| Restricted cash | $ 30,533,500 | $ 0 | |
| Digital assets | $ 700,075,300 | $ 904,370,600 | |
| Percentage of holdings over total assets | 62.10% | 68.50% | |
| Customer Concentration Risk [Member] | Advertising Platform One [Member] | Revenue [Member] | |||
| SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES [Abstract] | |||
| Concentration risk, percentage | 66.50% | 93.00% | |
| Put Option [Member] | |||
| SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES [Abstract] | |||
| Restricted cash | $ 0 | $ 951,600 | |
| Call Option [Member] | |||
| SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES [Abstract] | |||
| Collateral amount | 438,522,000 | 566,700,100 | |
| Digital assets | $ 271,268,600 | $ 350,600,800 | |
| X | ||||||||||
- Definition The term of contract with customer asset deferred revenue recognized, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Digital assets, digital assets pledged and equity securities holding percentage over total assets. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Fair value of crypto asset classified as noncurrent. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of assets pledged to secure a debt instrument. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of revenue recognized that was previously reported as deferred or unearned revenue. No definition available.
|
| X | ||||||||||
- Definition Amount of cash restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Definition Fair value of crypto asset pledged classified as noncurrent. No definition available.
|
| X | ||||||||||
- Definition Amount of investment in equity security classified as available for sale, measured at fair value with change in fair value recognized in net income (FV-NI), classified as current. No definition available.
|
| X | ||||||||||
- Definition Fair value of financial and nonfinancial assets related to repurchase agreements. No definition available.
|
| X | ||||||||||
- Definition Fair value portion of trade and related party payables and accrued expenses. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Fair value portion of asset recognized for present right to economic benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Fair value portion of borrowing which can be exchanged for a specified number of another security at the option of the issuer or the holder, for example, but not limited to, the entity's common stock. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Fair value of crypto asset classified as noncurrent. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Indicates line item in statement of financial position that includes derivative asset. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI), classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Fair value of financial and nonfinancial obligations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Fair value portion of an agreement for an unconditional promise by the maker to pay the holder a definite sum of money at a future date. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
DIGITAL ASSETS (Details) |
1 Months Ended | 3 Months Ended | ||
|---|---|---|---|---|
|
Aug. 31, 2025
Crypto
|
Mar. 31, 2026
USD ($)
Crypto
|
Feb. 26, 2026 |
Dec. 31, 2025
USD ($)
Crypto
|
|
| DIGITAL ASSETS [Abstract] | ||||
| Fair value of call option liability | $ 700,075,300 | $ 904,370,600 | ||
| Digital assets pledged | $ 135,634,300 | 175,300,400 | ||
| Convertible Senior Secured Notes [Member] | ||||
| DIGITAL ASSETS [Abstract] | ||||
| Maturity date | May 29, 2028 | |||
| Bitcoin [Member] | ||||
| DIGITAL ASSETS [Abstract] | ||||
| Number of units hedged for exposure (in Crypto) | Crypto | 4,000 | |||
| Number of units posted as collateral (in Crypto) | Crypto | 2,000 | |||
| Fair value of call option liability | $ 647,121,800 | $ 836,371,800 | ||
| Bitcoin [Member] | Convertible Senior Secured Notes [Member] | ||||
| DIGITAL ASSETS [Abstract] | ||||
| Number of digital asset units, restricted (in Crypto) | Crypto | 4,260.73 | 4,260.73 | ||
| Digital asset, fair value, restricted | $ 288,950,500 | $ 373,453,700 | ||
| Cronos [Member] | ||||
| DIGITAL ASSETS [Abstract] | ||||
| Number of digital asset units, restricted (in Crypto) | Crypto | 615,984,303.6 | |||
| Digital asset, fair value, restricted | $ 43,141.7 | |||
| Fair value of call option liability | $ 52,953,500 | 67,998,800 | ||
| Number of digital asset units, purchased (in Crypto) | Crypto | 684,427,004 | |||
| Digital asset, sale restriction period | 3 years | |||
| Digital asset, sale decreasing restriction period | 3 years | |||
| Credit Loss [Member] | ||||
| DIGITAL ASSETS [Abstract] | ||||
| Digital assets pledged | $ 0 | |||
| Maximum [Member] | Cronos [Member] | ||||
| DIGITAL ASSETS [Abstract] | ||||
| Digital Assets, Number of Units Unrestricted | 68,442,700.4 | |||
| Percentage limits on sale lapses for restricted digital asset | 25.00% | |||
| Minimum [Member] | Cronos [Member] | ||||
| DIGITAL ASSETS [Abstract] | ||||
| Percentage limits on sale lapses for restricted digital asset | 15.00% | |||
| Call Option [Member] | ||||
| DIGITAL ASSETS [Abstract] | ||||
| Fair value of call option liability | $ 271,268,600 | 350,600,800 | ||
| Call Option [Member] | Bitcoin [Member] | ||||
| DIGITAL ASSETS [Abstract] | ||||
| Digital asset, fair value, restricted | $ 271,268,600 | 350,600,800 | ||
| Expiration date | Jun. 30, 2026 | |||
| Fair value of call option liability | $ 307,600 | $ 7,517,400 |
| X | ||||||||||
- Definition Percentage of contractual sale restrictions on crypto asset under which sales restrictions will lapse. No definition available.
|
| X | ||||||||||
- Definition Period for decreasing restrictions on the contractual sale on crypto asset, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Excludes crypto asset held for platform user. No definition available.
|
| X | ||||||||||
- Definition Period for contractual sale restriction on crypto asset, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Excludes crypto asset held for platform user. No definition available.
|
| X | ||||||||||
- Definition Number of crypto asset units purchased during the period. No definition available.
|
| X | ||||||||||
- Definition The date on which a derivative instrument contract expires or terminates according to its contractual terms, in YYYY-MM-DD format. No definition available.
|
| X | ||||||||||
- Definition Number of units hedged for exposure to bitcoin volatility during the period. No definition available.
|
| X | ||||||||||
- Definition Number of units required to be posted as collateral in connection with sales during the reporting period. No definition available.
|
| X | ||||||||||
- Definition Number of digital asset units held subject to contractual sale restriction. Excludes crypto asset units held for platform user. No definition available.
|
| X | ||||||||||
- Definition Number of digital asset units held not subject to contractual sale restriction. Excludes crypto asset units held for platform user. No definition available.
|
| X | ||||||||||
- Definition Fair value of crypto asset pledged classified as noncurrent. No definition available.
|
| X | ||||||||||
- Definition Fair value of crypto asset classified as noncurrent. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Fair value of crypto asset subject to contractual sale restriction. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in YYYY-MM-DD format. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
DIGITAL ASSETS - Digital Asset Holdings (Details) |
Mar. 31, 2026
USD ($)
Crypto
|
Dec. 31, 2025
USD ($)
Crypto
|
|---|---|---|
| DIGITAL ASSETS [Abstract] | ||
| Cost Basis | $ 1,244,973,600 | $ 1,244,973,600 |
| Fair Value | $ 700,075,300 | $ 904,370,600 |
| Bitcoin [Member] | ||
| DIGITAL ASSETS [Abstract] | ||
| Units (in Crypto) | Crypto | 9,542.16 | 9,542.16 |
| Cost Basis | $ 1,131,024,300 | $ 1,131,024,300 |
| Fair Value | $ 647,121,800 | $ 836,371,800 |
| Cronos [Member] | ||
| DIGITAL ASSETS [Abstract] | ||
| Units (in Crypto) | Crypto | 756,079,523 | 756,079,523 |
| Cost Basis | $ 113,949,300 | $ 113,949,300 |
| Fair Value | $ 52,953,500 | $ 67,998,800 |
| X | ||||||||||
- Definition Number of restricted and unrestricted digital asset units held. Excludes crypto asset units held for platform user. No definition available.
|
| X | ||||||||||
- Definition Cost of crypto asset. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Fair value of crypto asset classified as noncurrent. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
DIGITAL ASSETS - Reconciliation of Digital Asset Holdings (Details) |
3 Months Ended | |||
|---|---|---|---|---|
|
Mar. 31, 2026
USD ($)
| ||||
| DIGITAL ASSETS [Abstract] | ||||
| Balance | $ 904,370,600 | |||
| Balance | 700,075,300 | |||
| Unrealized gain on digital asset | 39,666,100 | |||
| Bitcoin [Member] | ||||
| DIGITAL ASSETS [Abstract] | ||||
| Balance | 836,371,800 | |||
| Unrealized loss on digital assets | (189,250,000) | [1] | ||
| Balance | 647,121,800 | |||
| Cronos [Member] | ||||
| DIGITAL ASSETS [Abstract] | ||||
| Balance | 67,998,800 | |||
| Unrealized loss on digital assets | (15,045,300) | [1] | ||
| Balance | $ 52,953,500 | |||
| ||||
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Fair value of crypto asset classified as noncurrent. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of unrealized gain (loss) from remeasurement of crypto asset, classified as nonoperating. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of unrealized gain from remeasurement of crypto asset, classified as nonoperating. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
GOODWILL AND INTANGIBLE ASSETS (Details) - USD ($) |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| GOODWILL AND INTANGIBLE ASSETS [Abstract] | ||
| Amortization expense | $ 1,364,400 | $ 1,364,400 |
| Weighted-average remaining amortization period for amortizable intangible | 3 years 4 months 6 days | |
| X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Remaining amortization period of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
GOODWILL AND INTANGIBLE ASSETS - Goodwill (Details) |
3 Months Ended |
|---|---|
|
Mar. 31, 2026
USD ($)
| |
| GOODWILL AND INTANGIBLE ASSETS [Abstract] | |
| Balance | $ 120,884,200 |
| Goodwill related to acquisitions | 0 |
| Balance | 120,884,200 |
| Media [Member] | |
| GOODWILL AND INTANGIBLE ASSETS [Abstract] | |
| Balance | 120,884,200 |
| Goodwill related to acquisitions | 0 |
| Balance | 120,884,200 |
| Truth.Fi [Member] | |
| GOODWILL AND INTANGIBLE ASSETS [Abstract] | |
| Balance | 0 |
| Goodwill related to acquisitions | 0 |
| Balance | $ 0 |
| X | ||||||||||
- Definition Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
GOODWILL AND INTANGIBLE ASSETS - Finite-lived Intangible Assets, Net (Details) - USD ($) |
Mar. 31, 2026 |
Dec. 31, 2025 |
|---|---|---|
| GOODWILL AND INTANGIBLE ASSETS [Abstract] | ||
| Gross Carrying Amount | $ 27,600,000 | $ 27,600,000 |
| Accumulated Amortization | (9,134,800) | (7,770,400) |
| Net Carrying Amount | 18,465,200 | 19,829,600 |
| Source Code and Technology [Member] | ||
| GOODWILL AND INTANGIBLE ASSETS [Abstract] | ||
| Gross Carrying Amount | 24,500,000 | 24,500,000 |
| Accumulated Amortization | (8,112,800) | (6,902,000) |
| Net Carrying Amount | 16,387,200 | 17,598,000 |
| Exclusivity Rights [Member] | ||
| GOODWILL AND INTANGIBLE ASSETS [Abstract] | ||
| Gross Carrying Amount | 3,100,000 | 3,100,000 |
| Accumulated Amortization | (1,022,000) | (868,400) |
| Net Carrying Amount | $ 2,078,000 | $ 2,231,600 |
| X | ||||||||||
- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
GOODWILL AND INTANGIBLE ASSETS - Future Amortization Expense (Details) - USD ($) |
Mar. 31, 2026 |
Dec. 31, 2025 |
|---|---|---|
| GOODWILL AND INTANGIBLE ASSETS [Abstract] | ||
| 2026 (remainder of) | $ 4,169,100 | |
| 2027 | 5,533,500 | |
| 2028 | 5,548,700 | |
| 2029 | 3,213,900 | |
| Net Carrying Amount | $ 18,465,200 | $ 19,829,600 |
| X | ||||||||||
- Definition Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in remainder of current fiscal year. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
ACCOUNTS PAYABLE AND ACCRUED EXPENSES - Accounts Payable and Accrued Expenses (Details) - USD ($) |
Mar. 31, 2026 |
Dec. 31, 2025 |
||||
|---|---|---|---|---|---|---|
| ACCOUNTS PAYABLE AND ACCRUED EXPENSES [Abstract] | ||||||
| Accounts payable | $ 4,747,000 | $ 3,848,000 | ||||
| Other accrued expenses | 14,098,000 | 6,904,000 | ||||
| Income tax payable | 200 | 200 | ||||
| Franchise tax payable | 108,200 | 108,200 | ||||
| Option premium liabilities | 723,300 | 21,433,900 | ||||
| Accounts payable and accrued expenses | [1],[2] | $ 19,676,700 | $ 32,294,300 | |||
| ||||||
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable for franchise taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). No definition available.
|
| X | ||||||||||
- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of expenses incurred but not yet paid classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
LEASES (Details) - USD ($) |
Mar. 31, 2026 |
Mar. 31, 2025 |
|---|---|---|
| LEASES [Abstract] | ||
| Additional ROU assets and lease liabilities | $ 884,700 | $ 0 |
| Weighted average incremental borrowing rate | 8.00% | |
| Remaining weighted average term | 2 years 10 months 24 days |
| X | ||||||||||
- Definition Amount of additional right to use underlying asset and lease liabilities under operating lease. No definition available.
|
| X | ||||||||||
- Definition Weighted average incremental borrowing rate for operating lease calculated at point in time.. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Weighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
LEASES - Operating Leases Included in Consolidated Balance Sheets (Details) - USD ($) |
Mar. 31, 2026 |
Dec. 31, 2025 |
|---|---|---|
| Lease assets | ||
| Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Total assets (in Dollars) | Total assets (in Dollars) |
| Operating lease cost ROU assets, net | $ 3,145,000 | $ 2,505,300 |
| Total lease assets | $ 3,145,000 | $ 2,505,300 |
| Lease liabilities | ||
| Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Current liabilities | Current liabilities |
| Operating lease liabilities, current | $ 1,087,400 | $ 836,200 |
| Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Total liabilities (in Dollars) | Total liabilities (in Dollars) |
| Operating lease liabilities, non-current | $ 2,111,900 | $ 1,723,500 |
| Total lease liabilities | $ 3,199,300 | $ 2,559,700 |
| X | ||||||||||
- Definition Amount of lessee's right to use underlying under right of use asset. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Indicates line item in statement of financial position that includes current operating lease liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Indicates line item in statement of financial position that includes noncurrent operating lease liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's right to use underlying asset under operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Indicates line item in statement of financial position that includes operating lease right-of-use asset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
LEASES - Components of Lease Costs (Details) - USD ($) |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| LEASES [Abstract] | ||
| Operating lease costs | $ 300,400 | $ 274,900 |
| Variable lease costs | 15,200 | 26,200 |
| Short-term lease costs | 8,700 | 8,500 |
| Total lease costs | $ 324,300 | $ 309,600 |
| X | ||||||||||
- Definition Amount of lease cost recognized by lessee for lease contract. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of single lease cost, calculated by allocation of remaining cost of lease over remaining lease term. Includes, but is not limited to, single lease cost, after impairment of right-of-use asset, calculated by amortization of remaining right-of-use asset and accretion of lease liability. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of short-term lease cost, excluding expense for lease with term of one month or less. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of variable lease cost, excluded from lease liability, recognized when obligation for payment is incurred for finance and operating leases. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
LEASES - Future Minimum Payments under Non-cancelable Leases for Operating Leases (Details) - USD ($) |
Mar. 31, 2026 |
Dec. 31, 2025 |
|---|---|---|
| LEASES [Abstract] | ||
| 2026 (remainder of) | $ 974,000 | |
| 2027 | 1,328,600 | |
| 2028 | 1,101,400 | |
| 2029 | 171,500 | |
| Total future minimum lease payments | 3,575,500 | |
| Amount representing interest | (376,200) | |
| Present value of net future minimum lease payments | $ 3,199,300 | $ 2,559,700 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease to be paid in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease to be paid in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease to be paid in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payment for operating lease having initial or remaining lease term in excess of one year to be paid in remainder of current fiscal year. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments in excess of discounted obligation for lease payments for operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
INCOME TAXES (Details) |
3 Months Ended |
|---|---|
|
Mar. 31, 2026
USD ($)
| |
| INCOME TAXES [Abstract] | |
| U.S. Federal statutory income tax rate | 21.00% |
| Federal [Member] | |
| INCOME TAXES [Abstract] | |
| Net operating loss carryforwards (in Dollars) | $ 64,474,600 |
| Scenario, Plan [Member] | |
| INCOME TAXES [Abstract] | |
| Percentage of estimated annual effective tax rate | 0.80% |
| X | ||||||||||
- Definition Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
RELATED PARTY TRANSACTIONS (Details) - USD ($) |
3 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Dec. 31, 2022 |
Dec. 31, 2025 |
|
| RELATED PARTY TRANSACTIONS [Abstract] | ||||
| Related party payables | $ 262,000 | $ 262,000 | ||
| Sponsor [Member] | Digital World Acquisition Corp [Member] | ||||
| RELATED PARTY TRANSACTIONS [Abstract] | ||||
| Related party payables | 41,000 | |||
| Payments to vendor | $ 470,800 | |||
| Proceeds from related party | $ 41,000 | |||
| Yorkville Securities, LLC [Member] | ||||
| RELATED PARTY TRANSACTIONS [Abstract] | ||||
| Related party payables | 0 | $ 0 | ||
| Professional fees | 103,900 | $ 0 | ||
| Administrative Services Arrangement [Member] | Digital World Acquisition Corp [Member] | ||||
| RELATED PARTY TRANSACTIONS [Abstract] | ||||
| Expenses per month | 15,000 | |||
| Administrative Services Arrangement [Member] | Related Party [Member] | Digital World Acquisition Corp [Member] | ||||
| RELATED PARTY TRANSACTIONS [Abstract] | ||||
| Related party payables | $ 221,000 | |||
| Common Stock [Member] | Yorkville Securities, LLC [Member] | ||||
| RELATED PARTY TRANSACTIONS [Abstract] | ||||
| Number of shares issued (in Shares) | 6,000,000 | |||
| X | ||||||||||
- Definition Amount of cash outflows to a vendor for costs incurred. No definition available.
|
| X | ||||||||||
- Definition The cash inflow from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from Advances from Affiliates. No definition available.
|
| X | ||||||||||
- Definition The contractual monthly amount to be paid for support services. No definition available.
|
| X | ||||||||||
- Definition Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Number of new stock issued during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
LONG-TERM DEBT (Details) |
3 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
|
Mar. 31, 2026
USD ($)
Days
$ / shares
|
Mar. 31, 2025
USD ($)
|
Dec. 31, 2025
USD ($)
|
Jul. 01, 2025
USD ($)
|
|
| LONG-TERM DEBT [Abstract] | ||||
| Accreted interest expense | $ 11,469,800 | $ 186,800 | ||
| Carrying amount of loan | 958,586,800 | |||
| Current portion of long-term debt | 4,873,400 | $ 4,780,500 | ||
| Convertible Senior Secured Notes [Member] | ||||
| LONG-TERM DEBT [Abstract] | ||||
| Aggregate principal amount | $ 1,000,000,000 | |||
| Debt instrument interest rate | 0.00% | |||
| Maturity date | May 29, 2028 | |||
| Original issuance discount percentage | 4.00% | |||
| Percentage of redemption price | 100.00% | |||
| Debt instrument conversion price (in Dollars per share) | $ / shares | $ 28.8 | |||
| Beneficial conversion feature of convertible debt | $ 1,000 | |||
| Debt conversion, threshold percentage | 130.00% | |||
| Debt conversion, threshold consecutive trading days (in Days) | Days | 20 | |||
| Debt conversion, threshold trading days (in Days) | Days | 30 | |||
| Period after closing of acquisition required to maintain loan-to-collateral ratio | 45 days | |||
| Bitcoin collateral multiplier | 0.5263157895 | |||
| Collateral amount | $ 1,000,000,000 | |||
| Period after closing of acquisition required collateral delivery amount | 45 days | |||
| Threshold maximum principal amount outstanding for release of collateral | $ 500,000,000 | |||
| Threshold maximum principal amount outstanding for release of additional collateral amount | 250,000,000 | |||
| Accreted interest expense | $ 11,368,300 | |||
| Effective interest rate | 4.80% | |||
| Estimated fair value of the notes | $ 942,186,500 | |||
| Restricted Cash [Member] | Convertible Senior Secured Notes [Member] | ||||
| LONG-TERM DEBT [Abstract] | ||||
| Collateral amount | 30,533,500 | |||
| Equity Securities [Member] | Convertible Senior Secured Notes [Member] | ||||
| LONG-TERM DEBT [Abstract] | ||||
| Collateral amount | 268,940,000 | |||
| Bitcoin [Member] | Convertible Senior Secured Notes [Member] | ||||
| LONG-TERM DEBT [Abstract] | ||||
| Digital asset, fair value, restricted | 288,950,500 | 373,453,700 | ||
| Term Loan [Member] | ||||
| LONG-TERM DEBT [Abstract] | ||||
| Accreted interest expense | $ 101,500 | 186,800 | ||
| Effective interest rate | 7.72% | |||
| Carrying amount of loan | $ 5,324,600 | 5,223,100 | ||
| Current portion of long-term debt | $ 4,873,400 | $ 4,780,500 | ||
| Maximum [Member] | Convertible Senior Secured Notes [Member] | ||||
| LONG-TERM DEBT [Abstract] | ||||
| Loan-to-collateral ratio | 1 | |||
| X | ||||||||||
- Definition The multiplier applied to the aggregate market value of Bitcoin collateral to determine its value for purposes of the loan-to-collateral ratio, as specified in the loan agreement. No definition available.
|
| X | ||||||||||
- Definition Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt classified as current excluding convertible debt. No definition available.
|
| X | ||||||||||
- Definition Ratio calculated as the aggregate outstanding principal balance of all Notes divided by the sum of (i) aggregate market value of Bitcoin collateral multiplied by 0.5263157895, plus (ii) aggregate value of all cash and cash equivalents collateral. No definition available.
|
| X | ||||||||||
- Definition The stated percentage representing the original issuance discount on the notes. No definition available.
|
| X | ||||||||||
- Definition Period after closing of a transaction by which required collateral must be delivered to the Collateral Agent, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition The number of days following the acquisition closing date during which the entity is required to maintain a specified Loan-to-Collateral Ratio. No definition available.
|
| X | ||||||||||
- Definition Threshold maximum outstanding principal amount of debt at or below which an extra portion of collateral will be released. No definition available.
|
| X | ||||||||||
- Definition The maximum outstanding principal amount of debt at or below which the collateral, or a portion thereof, is released in accordance with the terms of the debt agreement or indenture. No definition available.
|
| X | ||||||||||
- Definition Fair value portion of borrowing which can be exchanged for a specified number of another security at the option of the issuer or the holder, for example, but not limited to, the entity's common stock. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Fair value of crypto asset subject to contractual sale restriction. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of assets pledged to secure a debt instrument. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of a favorable spread to a debt holder between the amount of debt being converted and the value of the securities received upon conversion. This is an embedded conversion feature of convertible debt issued that is in-the-money at the commitment date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Threshold period of specified consecutive trading days within which common stock price to conversion price of convertible debt instrument must exceed threshold percentage for specified number of trading days to trigger conversion feature. No definition available.
|
| X | ||||||||||
- Definition Minimum percentage of common stock price to conversion price of convertible debt instruments to determine eligibility of conversion. No definition available.
|
| X | ||||||||||
- Definition Threshold number of specified trading days that common stock price to conversion price of convertible debt instruments must exceed threshold percentage within a specified consecutive trading period to trigger conversion feature. No definition available.
|
| X | ||||||||||
- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in YYYY-MM-DD format. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Percentage of principal amount of debt redeemed. No definition available.
|
| X | ||||||||||
- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
LONG-TERM DEBT - Future Minimum Payments of Long-term Debt (Details) - USD ($) |
Mar. 31, 2026 |
Dec. 31, 2025 |
|---|---|---|
| LONG-TERM DEBT [Abstract] | ||
| 2026 | $ 988,504,500 | |
| 2027 | 500,000 | |
| Total future minimum payments | 989,004,500 | |
| Less: unamortized original issue discount and debt issuance costs | (30,417,700) | |
| Total long-term debt | 958,586,800 | |
| Less: current | (958,135,600) | |
| Long-term debt noncurrent | $ 451,200 | $ 442,600 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of unamortized debt discount (premium) and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt classified as current. Excludes lease obligation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt classified as noncurrent. Excludes lease obligation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
LOSS PER SHARE - LOSS PER SHARE (Details) - shares |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| LOSS PER SHARE [Abstract] | ||
| Total common stock equivalents excluded from dilutive income/loss per share (in Shares) | 42,245,174 | 13,889,127 |
| Convertible Notes [Member] | ||
| LOSS PER SHARE [Abstract] | ||
| Total common stock equivalents excluded from dilutive income/loss per share (in Shares) | 28,324,940 | 0 |
| Warrants [Member] | ||
| LOSS PER SHARE [Abstract] | ||
| Total common stock equivalents excluded from dilutive income/loss per share (in Shares) | 11,011,237 | 11,026,253 |
| RSUs [Member] | ||
| LOSS PER SHARE [Abstract] | ||
| Total common stock equivalents excluded from dilutive income/loss per share (in Shares) | 2,908,997 | 2,862,874 |
| X | ||||||||||
- Definition Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
STOCKHOLDERS' EQUITY - Summary of Warrant Activity (Details) |
3 Months Ended |
|---|---|
|
Mar. 31, 2026
$ / shares
shares
| |
| STOCKHOLDERS’ EQUITY [Abstract] | |
| Outstanding at beginning of period (in Shares) | shares | 11,019,418 |
| Outstanding at beginning of period (in Dollars per share) | $ / shares | $ 11.5 |
| Outstanding, weighted average remaining contractual life | 3 years 3 months 21 days |
| Granted (in Shares) | shares | 0 |
| Granted (in Dollars per share) | $ / shares | $ 0 |
| Exercised (in Shares) | shares | (8,181) |
| Exercised (in Dollars per share) | $ / shares | $ 11.5 |
| Expired or cancelled (in Shares) | shares | 0 |
| Expired or cancelled (in Dollars per share) | $ / shares | $ 0 |
| Outstanding at end of period (in Shares) | shares | 11,011,237 |
| Outstanding at end of period (in Dollars per share) | $ / shares | $ 11.5 |
| Outstanding, weighted average remaining contractual life | 3 years 25 days |
| Exercisable (in Shares) | shares | 11,011,237 |
| Exercisable (in Dollars per share) | $ / shares | $ 11.5 |
| Exercisable, weighted average remaining contractual life | 3 years 25 days |
| X | ||||||||||
- Definition The number of exercisable made during the period on other than stock (or unit) option plans. No definition available.
|
| X | ||||||||||
- Definition The weighted average fair value at exercisable date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans. No definition available.
|
| X | ||||||||||
- Definition Weighted average remaining contractual term for equity-based awards excluding options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition The number of share options (or share units) exercised made during the period on other than stock (or unit) option plans. No definition available.
|
| X | ||||||||||
- Definition The weighted average fair value at exercised date for nonvested equity-based awards issued during the period on other than stock. No definition available.
|
| X | ||||||||||
- Definition Weighted average remaining contractual term for equity-based awards excluding options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms References: Topic: 718 SubTopic:10 Subparagraph: (e)(1) Name: Accounting Standards Codification Paragraph: 2 Section: 50 Publisher: FASB URI: https://asc/fasb/org/1943274/2147480429/718-10-50-2 elementCreationTaxonomyVersion: 2012 No definition available.
|
| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Per share or unit weighted-average fair value of nonvested award under share-based payment arrangement. Excludes share and unit options. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average remaining contractual term for equity-based awards excluding options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Gross number of share options (or share units) granted during the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
STOCK BASED COMPENSATION (Details) - 2024 Equity Incentive Plan [Member] |
3 Months Ended |
|---|---|
|
Mar. 31, 2026
USD ($)
| |
| STOCK BASED COMPENSATION [Abstract] | |
| Aggregate fair value of awards vested | $ 2,034,100 |
| Grant date fair value of awards vested | 7,285,600 |
| Unrecognized compensation expense | $ 55,832,900 |
| Period for recognition of compensation cost not yet recognized | 1 year 7 months 20 days |
| X | ||||||||||
- Definition Weighted-average period over which cost not yet recognized is expected to be recognized for award under share-based payment arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cost to be recognized for option under share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Fair value of share-based awards for which the grantee gained the right by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Intrinsic value of vested award under share-based payment arrangement. Excludes share and unit options. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Details
|
STOCK BASED COMPENSATION - Summary of Stock Award Activity (Details) - 2024 Equity Incentive Plan [Member] - USD ($) |
3 Months Ended | |
|---|---|---|
Aug. 06, 2025 |
Mar. 31, 2026 |
|
| STOCK BASED COMPENSATION [Abstract] | ||
| Outstanding at beginning of period (in Shares) | 3,164,030 | |
| Outstanding at beginning of period (in Dollars per share) | $ 24.83 | |
| Outstanding at beginning of period | $ 0 | |
| Granted: RSUs (in Shares) | 96,721 | 0 |
| Granted: RSUs (in Dollars per share) | $ 0 | |
| Vested (in Shares) | (221,333) | |
| Vested (in Dollars per share) | $ 32.92 | |
| Forfeited (in Shares) | (33,700) | |
| Forfeited (in Dollars per share) | $ 30.08 | |
| Outstanding at end of period (in Shares) | 2,908,997 | |
| Outstanding at end of period (in Dollars per share) | $ 24.15 | |
| Outstanding at end of period | $ 26,995,500 |
| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Per share or unit weighted-average fair value of nonvested award under share-based payment arrangement. Excludes share and unit options. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Intrinsic value of outstanding award under share-based payment arrangement. Excludes share and unit options. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Details
|
INVESTMENT INCOME/(LOSS) - Investment Income/(Loss) (Details) - USD ($) |
3 Months Ended | |
|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
|
| INVESTMENT INCOME/(LOSS) [Abstract] | ||
| Realized gain on derivatives | $ 16,524,800 | |
| Unrealized loss on equity securities | (161,715,100) | |
| Unrealized gain on derivatives | 36,977,300 | |
| Dividend income | 3,200 | |
| Investment income/(loss) | $ (108,209,800) | $ 0 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of unrealized gain (loss) on investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of realized and unrealized gain (loss) on investment. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The difference between the book value and the sale price of options, swaps, futures, forward contracts, and other derivative instruments. This element refers to the gain (loss) included in earnings. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of dividend income on nonoperating securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands |
May 06, 2025
USD ($)
|
Feb. 27, 2024
USD ($)
|
Feb. 26, 2024 |
Sep. 18, 2024
USD ($)
|
|---|---|---|---|---|
| ARC, Patrick Orlando, UAV, Andrew Litinsky and Wesley Moss [Member] | ||||
| COMMITMENTS AND CONTINGENCIES [Abstract] | ||||
| Conversion rate | 1.34 | 1.8 | ||
| Claimed conversion rate | 1.68% | |||
| Penalty amount (in Dollars) | $ 18,000 | |||
| Coercive sanction fee per day (in Dollars) | $ 5,000 | |||
| Minimum [Member] | Patrick Orlando [Member] | ||||
| COMMITMENTS AND CONTINGENCIES [Abstract] | ||||
| Litigation settlement payable amount | $ 30,500 |
| X | ||||||||||
- Definition The amount breach of fiduciary duty penalty. No definition available.
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- Definition The amount of court penalty of coercive sanction. No definition available.
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- Definition Ratio applied to the conversion of contingency claimed. No definition available.
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- Definition Ratio applied to the conversion of debt instrument into equity with equity shares divided by debt principal amount. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount awarded to other party in judgment or settlement of litigation. No definition available.
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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SEGMENT INFORMATION (Details) |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2026
USD ($)
Segment
|
Mar. 31, 2025
USD ($)
|
|
| SEGMENT INFORMATION [Abstract] | ||
| Number of operating segments (in Segment) | Segment | 2 | |
| Number of reportable segment (in Segment) | Segment | 2 | |
| Revenue | $ 871,200 | $ 821,200 |
| Advertising [Member] | Media [Member] | ||
| SEGMENT INFORMATION [Abstract] | ||
| Revenue | 617,500 | |
| Subscription [Member] | Media [Member] | ||
| SEGMENT INFORMATION [Abstract] | ||
| Revenue | 192,600 | |
| Management Fees [Member] | Truth.Fi [Member] | | ||
| SEGMENT INFORMATION [Abstract] | ||
| Revenue | $ 61,100 | |
| X | ||||||||||
- Definition Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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SEGMENT INFORMATION - Segment Information (Details) - USD ($) |
3 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Mar. 31, 2026 |
Mar. 31, 2025 |
Dec. 31, 2025 |
|||||
| Operating Segments [Member] | |||||||
| SEGMENT INFORMATION [Abstract] | |||||||
| Revenue | $ 871,200 | $ 821,200 | |||||
| Other segment items | (8,475,200) | (5,942,400) | |||||
| Segment EBITDA | (7,604,000) | (5,121,200) | |||||
| Net loss | (405,884,200) | (31,726,600) | |||||
| Interest (income)/expense, net | 4,239,600 | (7,808,400) | |||||
| Depreciation & amortization | 1,866,400 | 1,779,200 | |||||
| Stock-based compensation | 11,829,600 | 17,851,700 | |||||
| Income taxes | 98,800 | 0 | |||||
| Total net income (loss) | (387,849,800) | (19,904,100) | |||||
| Corporate & other | 380,245,800 | 14,782,900 | |||||
| Corporate & other [Member] | |||||||
| SEGMENT INFORMATION [Abstract] | |||||||
| Cash, cash equivalents, and restricted cash | 248,889,700 | $ 159,990,500 | |||||
| Short-term investments | 207,370,700 | 305,053,300 | |||||
| Equity securities | 554,142,200 | 722,069,100 | |||||
| Total segment and non-segment assets | 1,010,402,600 | 1,187,112,900 | |||||
| Media [Member] | Operating Segments [Member] | |||||||
| SEGMENT INFORMATION [Abstract] | |||||||
| Revenue | 810,100 | 821,200 | |||||
| Other segment items | [1] | (7,685,300) | (5,942,400) | ||||
| Segment EBITDA | (6,875,200) | (5,121,200) | |||||
| Cash, cash equivalents, and restricted cash | 26,759,200 | 4,106,300 | |||||
| Short-term investments | 0 | 0 | |||||
| Equity securities | 0 | 0 | |||||
| Total segment and non-segment assets | 26,759,200 | 4,106,300 | |||||
| Truth.Fi [Member] | Operating Segments [Member] | |||||||
| SEGMENT INFORMATION [Abstract] | |||||||
| Revenue | 61,100 | 0 | |||||
| Other segment items | [2] | (789,900) | 0 | ||||
| Segment EBITDA | (728,800) | $ 0 | |||||
| Cash, cash equivalents, and restricted cash | 3,951,500 | 1,791,300 | |||||
| Short-term investments | 0 | 0 | |||||
| Equity securities | 0 | 0 | |||||
| Total segment and non-segment assets | $ 3,951,500 | $ 1,791,300 | |||||
| |||||||
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- Definition Amount of investment in equity security classified as available for sale, measured at fair value with change in fair value recognized in net income (FV-NI), classified as current. No definition available.
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- Definition Amount of income (loss) from continuing operations earnings before interest, taxes, depreciation, and amortization. No definition available.
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- Definition Amount of asset recognized for present right to economic benefit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of cash and cash equivalent, and cash and cash equivalent restricted to withdrawal or usage; attributable to continuing operation. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest income (expense) classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount of other expense (income) and loss (gain) calculated as difference between segment revenue and separately disclosed expense category to arrive at segment profit (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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SUBSEQUENT EVENTS (Details) - shares |
3 Months Ended | |
|---|---|---|
Aug. 06, 2025 |
Mar. 31, 2026 |
|
| 2024 Equity Incentive Plan [Member] | ||
| SUBSEQUENT EVENTS [Abstract] | ||
| Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 96,721 | 0 |
| X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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