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  "presentationDate": "2023-11-01 00:00:00",
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      "text": "Stacked bar chart showing expenses in $MM for 3Q22, 4Q22, 1Q23, 2Q23, and 3Q23, broken down by Compensation, SG&A, Crypto costs, Other, and Goodwill & intangible assets impairments.",
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      "text": "Includes non-cash intangible assets impairment of $23.3 mm",
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      "text": "Compensation and benefits expenses of $24.6mm were down 35% YoY, primarily due to lower headcount and non-cash compensation expense",
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      "text": "Total operating expenses of $257.6mm includes $190.1mm of crypto costs and execution, clearing and brokerage fees, related to Apex Crypto acquisition",
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      "text": "SG&A expenses of $7.4mm decreased 4% YoY primarily driven by reduced marketing expenses",
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      "text": "Other¹ expenses of $12.1mm down 16% YoY primarily due to lower depreciation and amortization and acquisition-related costs",
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      "text": "3Q23 results include Apex Crypto, which we acquired on April 1, 2023. In accordance with GAAP, we are presenting our crypto costs and execution, clearing and brokerage fees on a gross basis",
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