Digital Assets

6 Months Ended

Jun. 30, 2023

Digital Assets [Abstract]

DIGITAL ASSETS

4. DIGITAL ASSETS

Digital asset holdings were comprised of the following:

	June 30,		December 31,
	2023		2022
ETH	$	2,106,300	$	369,200
USDT*		2,300		90,100
	$	2,108,600	$	459,300

* A reclassification of USDT from stable coin to digital assets has been made to the consolidated balance sheet as of December 31, 2022.

For the six months ended June 30, 2023 and 2022, the Company recognized impairment loss of $223,000 and $8,300 on ETH.

Additional information about digital assets

The following table presents additional information about ETH for the six months ended June 30, 2023 and 2022:

	June 30,			June 30,
	2023			2022
Opening balance	$	369,200		$	-
Addition of ETH staking reward		9,600			-
Purchases of ETH in exchange of USDC		1,983,300			-
Collection of ETH from other services		2,000			-
Return of ETH to a third party		(34,600	)		-
Payment of ETH for other services		(200	)		-
Impairment of ETH		(223,000	)		-
Ending balance	$	2,106,300		$	-

The following table presents additional information about USDT for the six months ended June 30, 2023 and 2022:

	For the Six Months Ended June 30,
	2023			2022
Opening balance	$	90,100		$	-
Collection of USDT from exchange of BNB		-			10,200
Payment of service fees		(87,800	)		-
Ending balance	$	2,300		$	10,200