Lion Group Holding (LGHL) 6-K/A 27 Feb 24 2023 Q2 Current report (foreign) (amended) Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jun. 30, 2023
Document Information Line Items
Entity Registrant Name	LION GROUP HOLDING LTD.
Document Type	6-K/A
Current Fiscal Year End Date	--12-31
Amendment Flag	true
Amendment Description	This Report of Foreign Private Issuer on Form 6-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or Lion Group Holding Ltd.’s (the “Company”) future financial performance. The Company has attempted to identify forward-looking statements by terminology including “anticipates”, “believes”, “expects”, “can”, “continue”, “could”, “estimates”, “intends”, “may”, “plans”, “potential”, “predict”, “should” or “will” or the negative of these terms or other comparable terminology. These statements are only predictions, uncertainties and other factors may cause the Company’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. The information in this Report on Form 6-K is not intended to project future performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company does not guarantee future results, levels of activity, performance or achievements. The Company’s expectations are as of the date this Report on Form 6-K is filed, and the Company does not intend to update any of the forward-looking statements after the date this Report on Form 6-K is filed to confirm these statements to actual results, unless required by law.The forward-looking statements included in this Report on Form 6-K are subject to risks, uncertainties and assumptions about the Company’s businesses and business environments. These statements reflect the Company’s current views with respect to future events and are not a guarantee of future performance. Actual results of the Company’s operations may differ materially from information contained in the forward-looking statements as a result of risk factors some of which include, among other things: the Company’s goals and strategies; our ability to retain and increase the number of users, members and advertising customers, and expand its service offerings; Lion’s future business development, financial condition and results of operations; expected changes in Lion’s revenues, costs or expenditures; competition in the industry; relevant government policies and regulations relating to our industry; general economic and business conditions globally and in China; and assumptions underlying or related to any of the foregoing; the Company’s ability to effectively manage its growth, including implementing effective controls and procedures and attracting and retaining key management and personnel; changing interpretations of generally accepted accounting principles; the availability of capital resources, including in the form of capital markets financing opportunities, as well as general economic conditions; and other relevant risks detailed in the Company’s filings with the Securities and Exchange Commission.This Amendment No. 1 (the “Amendment”) to the Report of Foreign Private Issuer on Form 6-K (the “Original 6-K”), originally furnished by the Company to the Securities and Exchange Commission on December 6, 2023, amends the original 6-K to include an unaudited condensed consolidated statement of changes in equity, an unaudited condensed consolidated statements of cash flows, and notes to the unaudited condensed consolidated financial statements of the Company. In addition, the Amendment includes the interactive data file as Exhibit 101, which provides the unaudited condensed consolidated financial statements of the Company formatted in XBRL (eXtensible business reporting language).No other changes have been made to the Original 6-K. This Amendment does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way the disclosures made in the Original 6-K.
Entity Central Index Key	0001806524
Document Period End Date	Jun. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity File Number	001-39301

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)		Jun. 30, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents		$ 15,763,073	$ 11,159,610
Restricted cash-bank balances held on behalf of customers		1,626,680	3,242,989
Securities owned, at fair value		16,835,069	11,104,047
Receivables from broker-dealers and clearing organizations		33,301,424	33,342,254
Short-term loans receivable			7,126,021
Other receivables		50,670	534,437
Prepaids, deposits and other		2,197,921	2,534,684
Total current assets		69,774,837	69,044,042
Long term investment		1,378,968	1,436,142
Fixed assets, net		12,952,716	13,786,344
Right-of-use assets		872,344	1,160,563
Other assets		8,646,071	1,207,293
Total Assets		93,624,936	86,634,384
Current Liabilities
Payables to customers		24,955,725	23,829,192
Payables to broker-dealers and clearing organizations		32,151,798	24,963,524
Accrued expenses and other payables		2,002,116	1,923,305
Embedded derivative liabilities		1,257,795	2,292,056
Short-term borrowings		109,376	110,000
Lease liability - current		606,430	601,531
Due to director		115,305	146,671
Total current liabilities		61,198,545	53,866,279
Lease liability - noncurrent		309,155	618,705
Convertible debentures		2,433,892	4,061,735
Warrant liabilities		202,500	675,000
Total Liabilities		64,144,092	59,221,719
Commitments and Contingencies
Stockholders’ Equity
Preferred shares, $0.0001 par value, 2,500,000,000 shares authorized Series A Convertible Preferred Shares - 345,000 shares authorized, stated value of $1,000 per share, nil shares issued and outstanding each at June 30, 2023 and December 31, 2022	[1]
Additional paid in capital		66,721,830	63,660,939
Accumulated deficit		(33,799,530)	(34,492,863)
Accumulated other comprehensive losses		(224,677)	(303,213)
Total LGHL shareholders’ equity		32,706,392	28,870,723
Non-controlling interest		(3,225,548)	(1,458,058)
Total shareholders’ equity		29,480,844	27,412,665
Total Liabilities and Shareholders’ Equity		93,624,936	86,634,384
Class A Ordinary Shares
Stockholders’ Equity
Ordinary shares	[1]	7,785	4,876
Class B Ordinary Shares
Stockholders’ Equity
Ordinary shares	[1]	$ 984	$ 984
[1]The numbers of authorized shares have been retrospectively restated to reflect the increase approved by the Company’s 2023 Annual Meeting of Shareholders on October 6, 2023.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares		Jun. 30, 2023	Dec. 31, 2022
Preferred shares, par value (in Dollars per share)	[1]	$ 0.0001	$ 0.0001
Preferred shares, shares authorized	[1]	2,500,000,000	2,500,000,000
Series A Convertible Preferred Shares
Convertible preferred shares,shares authorized	[1]	345,000	345,000
Convertible preferred shares stated value, per share (in Dollars per share)	[1]	$ 1,000	$ 1,000
Convertible preferred shares, shares issued	[1]
Convertible preferred shares, shares outstanding	[1]
Class A Ordinary Shares
Ordinary shares, par value (in Dollars per share)	[1]	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	[1]	40,000,000,000	40,000,000,000
Ordinary shares, shares issued	[1]	77,850,203	48,761,596
Ordinary shares, shares outstanding	[1]	77,850,203	48,761,596
Class B Ordinary Shares
Ordinary shares, par value (in Dollars per share)	[1]	$ 0.0001	$ 0.0001
Ordinary shares, shares authorized	[1]	7,500,000,000	7,500,000,000
Ordinary shares, shares issued	[1]	9,843,096	9,843,096
Ordinary shares, shares outstanding	[1]	9,843,096	9,843,096
[1]The numbers of authorized shares have been retrospectively restated to reflect the increase approved by the Company’s 2023 Annual Meeting of Shareholders on October 6, 2023.

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022
Revenues
Insurance brokerage commissions		$ 979,236	$ 340,218
Securities brokerage commissions and fees		1,688,618	2,130,975
Market making commissions and fees		1,020,189	677,338
Interest income		1,423,928	1,894,170
Trading gains (loss)		7,818,819	(10,175,033)
Other income		380,207	782,601
Gross profit		13,310,997	(4,349,731)
Expenses and others (ii)
Commissions and fees	[1]	2,366,802	2,116,021
Compensation and benefits	[1]	1,714,336	1,923,259
Occupancy	[1]	391,251	372,628
Communication and technology	[1]	1,719,924	1,661,310
General and administrative	[1]	601,780	681,860
Professional fees	[1]	1,233,666	1,272,096
Research and development			4,160,033	[1]
Services fees	[1]	1,119,581	1,070,887
Interest	[1]	1,598,478	1,021,773
Depreciation and amortization	[1]	874,858	1,198,122
Marketing	[1]	1,502,421	1,370,893
Impairment of fixed assets			1,691,079	[1]
Impairment of cryptocurrencies			293,619	[1]
Change in fair value of warrant liabilities and embedded derivative liabilities	[1]	(453,761)	(759,375)
Other operating expenses (income)	[1]	985	(25,689)
Total operating expenses	[1]	12,670,321	18,048,516
Income (loss) before income taxes		640,676	(22,398,247)
Income tax expense		(1,058)	(3,071)
Net Income (loss)		639,618	(22,401,318)
Net loss attributable to non-controlling interests		(53,715)	(2,124,600)
Net Income (loss) attributable to LGHL		693,333	(20,276,718)
Deemed dividend on the effect of the warrant modification		(3,086,000)
Dividends and deemed dividends on preferred shares			(546,141)
Net loss attributable to LGHL ordinary shareholders		$ (2,392,667)	$ (20,822,859)
Class A Ordinary Shares
Loss per share for both Class A and Class B
Loss per basic (in Dollars per share)		$ (0.04)	$ (0.52)
Weighted average Class A ordinary shares outstanding
Weighted average ordinary shares outstanding basic (in Shares)		56,479,793	35,295,167
ADS
Loss per share for both Class A and Class B
Loss per basic (in Dollars per share)	[2]	$ (1.92)	$ (25.78)
Class B Ordinary Shares
Weighted average Class A ordinary shares outstanding
Weighted average ordinary shares outstanding basic (in Shares)		5,975,615	5,088,873
[1]Certain prior periods amounts have been reclassified to be comparable to the current period presentation. The reclassification has no effect on previously reported net assets or net income (loss).[2]On July 3, 2023, LGHL announced that it plans to change its American depositary share (“ADS”) to ordinary share (“Share”) ratio from one (1) ADS representing one (1) Share to one (1) ADS representing fifty (50) Shares. The change in the ADS ratio was effective on July 13, 2023. For LGHL’s ADS holders, the change in the ADS ratio had the same effect as a one-for-fifty reverse ADS split. The ADS ratio change has no impact on LGHL’s underlying Shares. Loss per ADS for the six months ended June 30, 2023 and 2022 had been retrospectively adjusted accordingly.

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Parentheticals) - $ / shares		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022
Class B Ordinary Shares
Loss per diluted		$ (0.04)	$ (0.52)
Weighted average ordinary shares outstanding diluted		5,975,615	5,088,873
ADS
Loss per diluted	[1]	$ (1.92)	$ (25.78)
Class A Ordinary Shares
Weighted average ordinary shares outstanding diluted		56,479,793	35,295,167
[1]On July 3, 2023, LGHL announced that it plans to change its American depositary share (“ADS”) to ordinary share (“Share”) ratio from one (1) ADS representing one (1) Share to one (1) ADS representing fifty (50) Shares. The change in the ADS ratio was effective on July 13, 2023. For LGHL’s ADS holders, the change in the ADS ratio had the same effect as a one-for-fifty reverse ADS split. The ADS ratio change has no impact on LGHL’s underlying Shares. Loss per ADS for the six months ended June 30, 2023 and 2022 had been retrospectively adjusted accordingly.

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Comprehensive Loss - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 639,618	$ (22,401,318)
Other comprehensive income (loss)
Foreign currency translation adjustment	78,536	(180,706)
Comprehensive income (loss)	$ 718,154	$ (22,582,024)

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity - USD ($)		Series A Convertible Preferred Shares	Class A Ordinary Shares	Class B Ordinary Shares	Additional Paid in Capital	Accumulated Deficit	Other Comprehensive (Loss) Income	Non- Controlling Interest	Total
Balance at Dec. 31, 2021		$ 3,929,206	$ 2,968	$ 984	$ 54,057,211	$ (2,929,580)	$ (57,532)	$ (760,675)	$ 54,242,582
Balance (in Shares) at Dec. 31, 2021		6,500	29,677,969	9,843,096
Effect of early adoption of ASU 2020-06					(1,590,676)				(1,590,676)
Conversion of Series A Convertible Preferred Shares and accrued dividends		$ (3,838,532)	$ 807		4,032,725				195,000
Conversion of Series A Convertible Preferred Shares and accrued dividends (in Shares)		(6,350)	8,066,753
Accrued dividends on Series A Convertible Preferred Shares					(10,533)				(10,533)
Deemed dividend on Series B Convertible Preferred Shares in connection with accretion of discounts					(166,741)				(166,741)
Accrued dividends on Series B Convertible Preferred Shares					(249,333)				(249,333)
Issuance of ordinary shares to nonemployees in connection with 2020 Share Incentive Plan			$ 245		1,837,255				1,837,500
Issuance of ordinary shares to nonemployees in connection with 2020 Share Incentive Plan (in Shares)			2,450,000
Effect of a modification of the existing warrants as debt issuance costs (ASU 2021-04)					1,955,000				1,955,000
Contribution from noncontrolling shareholder								1,713,775	1,713,775
Net Income (loss)						(20,276,718)		(2,124,600)	(22,401,318)
Other comprehensive income (loss)							(180,706)		(180,706)
Balance at Jun. 30, 2022		$ 90,674	$ 4,020	$ 984	59,864,908	(23,206,298)	(238,238)	(1,171,500)	35,344,550
Balance (in Shares) at Jun. 30, 2022		150	40,194,722	9,843,096
Balance at Dec. 31, 2022			$ 4,876	$ 984	63,660,939	(34,492,863)	(303,213)	(1,458,058)	27,412,665
Balance (in Shares) at Dec. 31, 2022			48,761,596	9,843,096
Conversion of August 2022 Convertible Debenture and the payment of make-whole interest by shares	[1]		$ 2,909		3,060,891				3,063,800
Conversion of August 2022 Convertible Debenture and the payment of make-whole interest by shares (in Shares)	[1]		29,088,607
Repayment to noncontrolling shareholder								(1,713,775)	(1,713,775)
Net Income (loss)						693,333		(53,715)	639,618
Other comprehensive income (loss)							78,536		78,536
Balance at Jun. 30, 2023			$ 7,785	$ 984	$ 66,721,830	$ (33,799,530)	$ (224,677)	$ (3,225,548)	$ 29,480,844
Balance (in Shares) at Jun. 30, 2023			77,850,203	9,843,096
[1]During the six months ended June 30, 2023, the August 2022 Convertible Debenture of $2,010,800 along with the Make-Whole interest of $1,053,000 were fully converted into an aggregate of 29,088,607 Class A ordinary shares.

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities
Net income (loss)		$ 639,618	$ (22,401,318)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation expense	[1]	650,275	650,275
Impairment of fixed assets			1,691,079
Change in fair value of warrant liabilities		(472,500)	(759,375)
Change in fair value of option liability			(554,710)
Change in fair value of embedded derivative liability		18,739
Amortization of right-of-use assets		291,793	393,355
Impairment on cryptocurrencies			293,619
Amortization of debt discounts		382,957	105,000
Depreciation and amortization		874,858	1,198,122
(Increase) decrease in operating assets
Securities owned		(5,731,022)	4,353,330
Receivables from broker-dealers and clearing organizations		40,829	37,162,847
Prepaids, deposits and other assets		(322,226)	6,459,494
Intangible assets		139,351	(438,042)
Increase (decrease) in operating liabilities
Payables to customers		1,126,533	(7,346,575)
Payables to broker-dealers and clearing organizations		7,188,274	(21,523,437)
Accrued expenses and other payables		78,811	(188,473)
Lease liabilities		(304,651)
Net cash provided by (used in) operating activities		4,601,639	(904,809)
Cash Flows from Investing Activities
Purchases of fixed assets		(508)
Short term loans receivable			(5,072,151)
Collection of short term loan			1,484,711
Net cash used in investing activities		(508)	(3,587,440)
Cash Flows from Financing Activities
Proceeds from issuance of convertible debenture			1,955,000
Repayment to and contribution from noncontrolling shareholder		(1,713,775)	1,713,775
Net cash (used in) provided by financing activities		(1,713,775)	3,668,775
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash		99,798	(116,703)
Net Change in Cash, Cash Equivalents, and Restricted Cash		2,987,154	(940,177)
Cash, Cash Equivalents, and Restricted Cash - Beginning of Period		14,402,599	15,751,475
Cash, Cash Equivalents, and Restricted Cash - End of Period		17,389,753	14,811,298
Noncash Investing and Financing Activities
Decrease in receivable for acquisition of long term assets		7,776,606
Conversion of August 2022 Convertible Debenture and the payment of make-whole interest by shares		3,063,800
Effect of early adoption of ASU 2020-06			1,590,676
Conversion of Series A Convertible Preferred Shares and accrued dividends			4,033,532
Accrued dividends on Series A and Series B Convertible Preferred Shares			259,866
Deemed dividend on Series A and Series B Convertible Preferred Shares			166,741
Lease liabilities arising from obtaining right-of-use assets			1,668,956
Supplemental Disclosure of Cash Flow Information
Cash paid for interest		1,235,944	875,499
Cash paid for income taxes		$ 1,058	$ 3,071
[1] The amount includes stock-based expenses under January 2021 Call Options in the amount of $190,900 and under 2020 Share Incentive Plan in the amount of $459,375.

Organization and Principal Acti

Organization and Principal Activities	6 Months Ended
	Jun. 30, 2023
Organization and Principal Activities [Abstract]
Organization and Principal Activities	Note 1 — Organization and Principal Activities Lion Group Holding Ltd. (the “Company”, “Lion” or “LGHL”) is a company with limited liability registered as an exempted company in the Cayman Islands. The Company and its subsidiaries (collectively referred to as the “Group”) provide securities, futures and derivatives brokerage services, insurance brokerage services, total return swap trading services, and market maker trading services. As a result of the consummation of a business combination with Proficient Alpha Acquisition Corp., a Nevada corporation (“PAAC”) which was accounted for as a reverse recapitalization, the Company’s ordinary shares and warrants started to be traded on the NASDAQ Capital Market under the ticker symbols LGHL and LGHLW, respectively on June 17, 2020. Each American Depositary Shares (“ADSs”) of the Company represented one Class A ordinary share upon the closing. On July 13, 2023, the ADS ratio was changed from one (1) ADS representing one (1) Share to one (1) ADS representing fifty (50) Shares. Principal Activities The Group generates commission revenues by enabling its customers to trade in securities, futures and derivative markets throughout the world. The Group’s trading customers consist of corporate clients, individual traders and retail investors primarily located in People’s Republic of China (“PRC”) and Southeast Asia, although its trading platform allows it to serve customers worldwide. The Group also generates commission revenues by providing insurance brokerage services to high-net-worth individuals primarily located in the PRC. In May 2019, the Group began to serve as the counterparty to its customers in derivative transactions. This predominantly occurs when a customer utilizes a contract for difference (CFD). CFDs allow for the exchange of the difference in value of a particular asset such as a currency pair between the time at which a contract is opened and the time at which it is closed. If the trades of one customer can be used to naturally offset the trades of another customer, the Group will act as the market maker to offer liquidity and pricing to both customers. When such an offsetting is not available, the Group may choose to use its own trades to offset the trades of its customer, and the Group may also act as a broker in arranging trades between the customer and third-party market makers. The Group officially began offering total return swap (TRS) trading services to customers in July 2020. The Group has entered into International Swaps and Derivatives Association (ISDA) master agreements and related supplementary agreements with two of the top five swap traders in China. The Group is currently offering A-shares (shares that are denominated in Renminbi and traded in the Shanghai Stock Exchange and Shenzhen Stock Exchange) and Hong Kong stock basket linked TRS, which provides international investors seeking to invest in the China stock market with higher leverage compared with buying A-share stocks directly. The Group earns income from the spread on interest rate loans provided to TRS trading customers and loans borrowed from its business partners. In addition, the Group also receives commissions and fees from customers for trades made through the TRS trading service. The subsidiaries of the Company include a participant of the Stock Exchange of Hong Kong Limited (“SEHK”) and Hong Kong Securities Clearing Company Limited (“HKSCC”), remote trading member of Singapore Exchange Limited (“SGX”), and member of the Professional Insurance Brokers Association Limited (“PIBA”); possess the licenses issued by Hong Kong Securities and Futures Commission (“HKSFC”) to carry out regulated activities including Type 1 Dealing in Securities, Type 2 Dealing in Futures Contracts, Type 4 Advising on Securities, Type 5 Advising on Futures Contracts, and Type 9 Asset Management, the full license issued by Cayman Islands Monetary Authority (“CIMA”) to carry out securities investment business including Broker Dealer and Market Maker, and the Capital Markets Service License (“CMS License”) issued by the Monetary Authority of Singapore.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Significant Accounting Policies [Abstract]
Significant Accounting Policies	Note 2 — Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements reflect all adjustments that, in the opinion of management, are of a normal recurring nature and are necessary to fairly present the financial statements for the interim periods. The condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and have been prepared in accordance with the regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. Results for the interim periods are not necessarily indicative of results to be expected for the full year. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 20-F for the year ended December 31, 2022, which was filed with the SEC on April 28, 2023. Principles of Consolidation The consolidated financial statements include the accounts of the Company, and its subsidiaries in which it has a controlling financial interest. A subsidiary is an entity (including a structured entity), directly or indirectly, controlled by the Company. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in consolidation. The Group consolidates the loss of the subsidiaries and subtracts the net loss that is attributable to the non-controlling interest holders in calculating the net income (loss) that is attributable to the Group. Reclassification Certain prior periods amounts have been reclassified to be comparable to the current period presentation. The reclassification has no effect on previously reported net assets or net income (loss). Significant Accounting Policies The Company’s significant accounting policies are included in Note 2 –Significant Accounting Policies in the Company’s 2022 Form 20-F. During the six months ended June 30, 2023, there were no significant changes made to the Company’s significant accounting policies. New Accounting Standards Adopted On January 1, 2023, the Group adopted FASB ASC Topic 326 – “Financial Instruments – Credit Losses” (“ASC Topic 326”) which replaces the incurred loss methodology with the current expected credit loss (“CECL”) methodology. The guidance applies to financial assets measured at amortized cost, held-to-maturity debt securities and off-balance sheet credit exposures. For on-balance sheet assets, an allowance must be recognized at the origination or purchase of in-scope assets and represents the expected credit losses over the contractual life of those assets. The Group adopted ASC Topic 326 using the modified retrospective approach for all in-scope assets, which did not result in an adjustment to the opening balance in retained earnings. The impact to the current period is not material since the Group’s in-scope assets are primarily receivables from broker-dealers and clearing organizations, the management considers that these receivables have a low risk of default and the counterparties have a strong capacity to meet their contractual obligation. An allowance for credit losses on other financial assets, including receivables from clients (commission receivables), other receivable and various deposits due from vendors which were included in prepaids, deposits and other and other assets, is estimated based on the aging of these financial assets. The settlement periods of commission receivables are usually short and within one month, the credit risk arising from receivables from clients is considered low. Other receivables and the deposits with various vendors were not material to the consolidated financial statements taken as a whole and historically the Group has not recorded an allowance for credit losses on their deposits. As a result, the allowance for credit losses for other financial assets were immaterial for current period. Recent Accounting Pronouncements In June 2022, the Financial Accounting Standards Board (“FASB”) issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in this update clarify the guidance in Topic 820 when measuring the fair value of an equity security subject to contractual sale restrictions and introduce new disclosure requirements related to such equity securities. The amendments are effective for fiscal years beginning after December 15, 2023, with early adoption permitted. The Group does not expect the adoption to have a material impact on the consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU No. 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets, In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2023
Revenue Recognition [Abstract]
Revenue Recognition	Note 3 — Revenue Recognition Under ASC Topic 606 Revenue from Contracts with Customers, revenues are recognized when control of the promised goods or services is transferred to customers in exchange for an amount that reflects the consideration the Group expects to be entitled to and in return for transferring those goods or services. Significant Judgments Revenue from contracts with customers include commission income from securities, futures and derivative brokerage, market making trading and insurance brokerage. The recognition and measurement of revenue is based on the assessment of individual contract terms. Significant judgment is required to determine whether performance obligations are satisfied at a point in time or over time; how to allocate transaction prices where multiple performance obligations are identified; when to recognize revenue based on the appropriate measure of progress under the contract; whether revenue should be presented gross or net of certain costs; and whether constraints on variable consideration should be applied due to uncertain future events. Commissions and Fees The Group earns fees and commissions from securities, futures and derivatives brokerage services (including commissions and fees related to TRS trading business) and CFD trading services when the Group acts as a market maker. Each time a customer executes a securities, futures, derivative or CFD transaction, commissions and fees are earned. Commissions and related clearing fees and expenses are recorded on the trade date. The performance obligation is satisfied on the trade date because that is when the underlying financial instrument or purchaser is identified, the pricing is agreed upon and the risks and rewards of ownership have been transferred to/from the customer. The Group charges securities brokerage commissions and market making commissions based on amount of transaction volume, or the number of shares, lots of contracts executed in each order, which generally vary in accordance with the type of products or services the Group offers. The Group also earns commission income arising from insurance brokerage services which are recognized at a point in time when the performance obligation has been satisfied by successfully referring an insurance client to an insurer in accordance with the relevant broker contract. The commission earned is equal to a percentage of the premium paid to the insurance provider. The following table presents revenue from contracts with customers, in accordance with ASC Topic 606, by major source and geographic region: Six Months Ended June 30, 2023 2022 Insurance brokerage commissions $ 979,236 $ 340,218 Securities brokerage commissions 1,688,618 2,130,975 Market making commissions and fees 1,020,189 677,338 Sale of NFTs - 438,041 Total revenue from contracts with customers $ 3,688,043 $ 3,586,572 Hong Kong 2,667,854 2,909,234 Cayman Islands 1,020,189 677,338 $ 3,688,043 $ 3,586,572 All of the Group’s revenues from contracts with customers are recognized at a point in time. Trading Gains (Losses) Trading gains and losses along with interest revenue fall within the scope of ASC Topic 825, Financial Instruments Trading gains (losses) consist of realized and unrealized gains (losses) derived from (i) managed portfolio trading positions where the Group acts as counterparty to customers’ trades, and (ii) marking up the bid/offer spreads on customers’ CFD transactions, and (iii) trading gains/(losses) from proprietary TRS trading activities. Trading gains/(losses) is recorded on a trade date basis. The following table represents trading gain (loss) breakdown: For the Six Months Ended 2023 2022 CFD trading gains/(losses) $ 8,128,247 $ (7,589,240 ) TRS trading gains/(losses) 312,327 (3,014,475 ) Other trading gains/(losses) (621,755 ) 428,682 Total $ 7,818,819 $ (10,175,033 ) The following table represents the effect of trading activities on the consolidated statements of operations and comprehensive income (loss): Trading Revenue Type of Instrument 2023 2022 Foreign Currency $ - $ (354 ) Stock Indices 9,091,210 (7,269,754 ) Commodities (962,963 ) (319,132 ) Equity (309,428 ) (2,585,793 ) $ 7,818,819 $ (10,175,033 ) Trading Revenue Line Item in Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) 2023 2022 Trading gains (losses) $ 7,818,819 $ (10,175,033 ) The revenue related to each category includes realized and unrealized gains and losses on both derivative instruments and nonderivative instruments. Interest Income and Other Interest income primarily consist of interests earned on bank deposits and short-term loans the Group extends to unrelated third parties, interest rate difference between currency pairs the Group hold resulting from rolling over currency positions and interest earned from loans provided to TRS trading customers, which are recorded on an accrual basis. Interest income is recognized as it accrues using the effective interest method. Other income primarily consists of the dividends income, transaction fee, advisory service fee, government subsidy and other miscellaneous charges from customers etc.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2023
Fair Value [Abstract]
Fair Value	Note 4 — Fair Value Fair Value Hierarchy FASB ASC 820 defines fair value, establishes a framework for measuring fair value, and establishes a hierarchy of fair value inputs. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market. Valuation techniques that are consistent with the market, income or cost approach, as specified by FASB ASC 820, are used to measure fair value. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: ● Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company can access at the measurement date. ● Level 2 are inputs other than quoted prices included within level 1 that are observable for the assets or liabilities either directly or indirectly. ● Level 3 inputs are unobservable inputs for the assets or liabilities. The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety. A description of the valuation techniques applied to the Group’s major categories of assets and liabilities measured at fair value on a recurring basis follows. Exchange-traded equity securities and futures are generally valued based on quoted prices at the close of trading on the period end date. To the extent these securities and futures are actively traded, valuation adjustments are not applied, and they are categorized in level 1 of the fair value hierarchy; otherwise, they are categorized in level 2 or level 3 of the fair value hierarchy. Listed derivatives that are actively traded are valued based on quoted prices at the close of trading on the period end date and are categorized in level 1 of the fair value hierarchy. Listed derivatives that are not actively traded are valued using the same approaches as those applied to over-the-counter (“OTC”) derivatives; they are generally categorized in level 2 of the fair value hierarchy. Depending on the product and the terms of the transaction, the fair value of OTC derivative products can be either observed or modeled using a series of techniques and model inputs from comparable benchmarks. Substantially all of the Group’s OTC derivatives were carried at fair value based on spot exchange rates broadly distributed in active markets, or amounts approximating fair value. Such values are categorized as level 2 of the fair value hierarchy. The significant assumptions which the Company used to value the options in the Black-Sholes-Merton pricing model as of June 30, 2023 are as below. There were no outstanding options as of December 31, 2022. June 30, Stock price $ 0.7 - 3.8 Exercise price $ 0.6 - 3.6 Expected term in years 0.01 - 0.2 Expected dividend yield 0 % Volatility 21% - 48 % Risk-free interest Rate 3 % The following table presents the Group’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis at June 30, 2023 and December 31, 2022: At June 30, 2023 Quoted Prices in Active Significant Significant Total Assets Listed equity securities $ 16,835,069 $ - $ - $ 16,835,069 Option assets (ii) - 134,337 - 134,337 $ 16,835,069 $ 134,337 $ - $ 16,969,406 Liabilities Embedded derivative liabilities $ - $ (1,257,795 ) $ - $ (1,257,795 ) Option liabilities (i)(ii) - (134,337 ) - (134,337 ) Warrant liabilities (138,000 ) (64,500 ) - (202,500 ) $ (138,000 ) $ (1,456,632 ) $ - $ (1,594,632 ) (i) No collateral received or pledged for derivative contracts. (ii) Option assets balance was included in the line item “prepaids, deposits and other” in the condensed consolidated balance sheets. Option liabilities balance was included in the line item “accrued expenses and other payables” in the condensed consolidated balance sheets. At December 31, 2022 Quoted Prices Significant Significant (Level 1) (Level 2) (Level 3) Total Assets Listed equity securities $ 11,104,047 $ - - $ 11,104,047 $ 11,104,047 $ - $ - $ 11,104,047 Liabilities Embedded derivative liabilities $ - $ (2,292,056 ) $ - $ (2,292,056 ) Warrant liabilities (460,000 ) (215,000 ) - (675,000 ) $ (460,000 ) $ (2,507,056 ) $ - $ (2,967,056 ) There were no transfers between level 1, level 2, and level 3 during either period. The following table presents the carrying values and estimated fair values of financial assets and liabilities, excluding financial instruments that are carried at fair value on a recurring basis, and information is provided on their classification within the fair value hierarchy. At June 30, 2023 Quoted Prices in Active Markets for Significant Significant Total Identical Observable Unobservable Carrying Assets Inputs Inputs Estimated Value (Level 1) (Level 2) (Level 3) Fair Value Assets Cash and cash equivalents $ 15,763,073 $ 15,763,073 $ - $ - $ 15,763,073 Bank balances held on behalf of customers 1,626,680 1,626,680 - - 1,626,680 Receivables from broker-dealers and clearing organizations 33,301,424 - 33,301,424 - 33,301,424 Short-term loans receivable - - - - - Other receivables 50,670 - 50,670 - 50,670 $ 50,741,847 $ 17,389,753 $ 33,352,094 $ - $ 50,741,847 Liabilities Payables to customers $ 24,955,725 $ - $ 24,955,725 $ - $ 24,955,725 Payables to broker-dealers and clearing organizations 32,151,798 - 32,151,798 - 32,151,798 Accrued expenses and other payables 1,867,779 - 1,867,779 - 1,867,779 Short-term borrowings 109,376 - 109,376 - 109,376 Lease liability - current 606,430 - 606,430 - 606,430 Lease liability - noncurrent 309,155 - 309,155 - 309,155 Due to director 115,305 - 115,305 - 115,305 $ 60,115,568 $ - $ 60,115,568 $ - $ 60,115,568 At December 31, 2022 Quoted Prices in Active Markets for Significant Significant Total Identical Observable Unobservable Estimated Value (Level 1) (Level 2) (Level 3) Fair Value Assets Cash and cash equivalents $ 11,159,610 $ 11,159,610 $ - $ - $ 11,159,610 Bank balances held on behalf of customers 3,242,989 3,242,989 - - 3,242,989 Receivables from broker-dealers and clearing organizations 33,342,254 - 33,342,254 - 33,342,254 Short-term loans receivable 7,126,021 7,126,021 - - 7,126,021 Other receivables 534,437 - 534,437 - 534,437 $ 55,405,311 $ 21,528,620 $ 33,876,691 $ - $ 55,405,311 Liabilities Payables to customers $ 23,829,192 $ - $ 23,829,192 $ - $ 23,829,192 Payables to broker-dealers and clearing organizations 24,963,524 - 24,963,524 - 24,963,524 Accrued expenses and other payables 1,923,305 - 1,923,305 - 1,923,305 Short-term borrowings 110,000 - 110,000 - 110,000 Lease liability - current 601,531 - 601,531 - 601,531 Lease liability - noncurrent 618,705 - 618,705 - 618,705 Due to director 146,671 - 146,671 - 146,671 $ 52,192,928 $ - $ 52,192,928 $ - $ 52,192,928

Short-term Loans Receivable

Short-term Loans Receivable	6 Months Ended
	Jun. 30, 2023
Short-term Loans Receivable [Abstract]
Short-term Loans Receivable	Note 5 — Short-term Loans Receivable During the year ended December 31, 2022, the Group issued notes receivable in an aggregate of approximately $8,564,000 to two unrelated parties and received total repayments of approximately $1,499,000 including interest of $51,000. The notes were due in six months and accrue interest at a rate of 12% per annum. As of December 31, 2022, the aggregate outstanding balance of loan receivables above was approximately $7,126,000. During the year ended December 31, 2022, interest income earned on the notes were $500,759. On April 6, 2023, the Group entered into an asset acquisition agreement with Hangzhou Lanlian Technology Co., Ltd. (“Lanlian”), to acquire various software systems for its trading service, which includes Real-time High Performance Risk Management System, Intelligent Dynamic Order Distribution System, and Margin-based Securities Trading System. The acquisition was closed in November 2023 upon which Lanlian conveyed and delivered to the Group the software systems. The aggregate purchase price for the software systems was $7,850,000. On April 13, 2023, the Group entered into Deeds of Assignments with the unrelated borrowers discussed above and Lanlian. As a result, the Group assigned the outstanding loans receivable and accrued interest in an aggregate of approximate $7,766,000 to Lanlian as part of the payment for the purchase price. No gains or losses are recognized. The remaining purchase price will be settled in March 2024. As of June 30, 2023, loan receivable was zero and the payment of $7,766,000 was included in other assets as the assets purchase was closed in November 2023.

Fixed Assets, Net

Fixed Assets, Net	6 Months Ended
	Jun. 30, 2023
Fixed Assets, Net [Abstract]
Fixed Assets, Net	Note 6 — Fixed Assets, Net Fixed assets consisted of the following as of June 30, 2023 and December 31, 2022: June 30, December 31, 2023 2022 Mining Machines $ - $ 2,585,119 Software 16,000,000 16,000,000 Leasehold improvement 38,402 38,329 Office and equipment 281,260 305,651 Total cost of fixed assets 16,319,662 18,929,099 Less: accumulated depreciation (3,366,946 ) (3,452,727 ) Less: impairment of mining machines - (1,690,028 ) Fixed assets, net $ 12,952,716 $ 13,786,344 Depreciation expense was $874,858 for the six months ended June 30, 2023. Depreciation expense, excluding depreciation expense of the mining machines during the operation was $1,198,122, and are included in operating expenses for the six months ended June 30, 2022. The Group recorded $-0- and $1,690,028 impairment charges related to mining machines for the six months ended June 30, 2023 and 2022, respectively.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2023
Derivatives [Abstract]
Derivatives	Note 7 — Derivatives Derivative financial instruments used for trading purposes are carried at fair value. Fair values for exchange-traded derivatives, principally futures and certain options, are based on quoted market prices. Fair values for OTC derivative financial instruments, principally CFDs are based on spot exchange rates broadly distributed in active markets, OTC option contracts are based on stock price and stock volatility. Factors taken into consideration in estimating the fair value of OTC derivatives include market liquidity, concentrations, and funding and administrative costs incurred. The Group does not apply hedge accounting as defined in ASC 815, because all financial instruments are recorded at fair value with changes in fair values reflected in earnings. Therefore, certain of the disclosures required under ASC 815 are generally not applicable with respect to these financial instruments. As discussed in Note 1, the Group’s derivative trading activity primarily relates to situations where it assumes the role of a market maker or a counter party in its customers’ CFD and options transactions. If the trades of one customer can be used to naturally hedge and offset the trades of another customer, the Group will act as the market maker to offer liquidity and pricing to both customers. When such an offsetting is not available, the Group may choose to use its own trades to hedge and offset the trades of its customer. The contractual amounts related to CFDs reflect the volume and activity and generally do not reflect the amounts at risk. The fair value of the asset or liability is the best indicator of the Group’s risk. The credit risk for the CFDs and option contracts is limited to the unrealized fair value gains (losses) recorded in the balance sheets. Market risk is substantially dependent upon the value of the underlying assets and is affected by market forces such as volatility and changes in interest and foreign exchange rates. The Group’s open derivative positions were $0 and $54 as of June 30, 2023 and December 31, 2022, respectively. A summary of the Group’s open positions at June 30, 2023 is as follows: Fair Value Fair Value Net Description of Asset of Liability Amount Stock Indices OTC option contracts $ 134,337 $ (134,337 ) $ - $ 134,337 $ (134,337 ) $ - A summary of the Group’s open positions at December 31, 2022 is as follows: Description Fair Value Fair Value Net Amount Stock Indices CFDs 54 - 54 $ 54 $ - $ 54 The Group elects the alternative disclosure for gains and losses on derivative instrument included in its trading activities, and discloses gains and losses on its trading activities (including both derivative instruments and nonderivative instruments) separately by major type of items as required by ASC 815-10-50-4F. Offsetting Arrangements Financial assets and financial liabilities are offset and the net amount is reported in the consolidated balance sheets if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle the liabilities simultaneously. Concentrations of Credit Risk The Group is engaged in various trading and brokerage activities in which counterparties primarily include broker-dealers, individuals, and other financial institutions. In the event counterparties do not fulfil their obligations, the Group may be exposed to risk. The risk of default depends on the creditworthiness of the counterparty or issuer of the instrument. It is the Group’s policy to review, as necessary, the credit standing of each counterparty.

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2023
Stockholders’ Equity [Abstract]
Stockholders’ Equity	Note 8 — Stockholders’ Equity Ordinary Shares and Preferred Shares The Company was authorized to issue (i) 450,000,000 ordinary shares, $0.0001 par value per share, divided into 300,000,000 Class A ordinary shares and 150,000,000 Class B ordinary shares, and (ii) 50,000,000 preferred shares, $0.0001 par value per share upon formation. As of June 16, 2020, subsequent to the closing of the business combination, there were 17,399,176 ordinary shares outstanding, including 7,647,962 Class A ordinary shares and 9,751,214 Class B ordinary shares, and no preferred shares outstanding. On November 12, 2020, as a result of post-merger consideration adjustment, additional 121,473 ordinary shares were issued to Lion’s original shareholders, including 29,591 Class A ordinary shares and 91,882 Class B ordinary shares. An aggregate of 1,933,740 Class B ordinary shares set aside as the indemnity escrow shares following the closing of the business combination was no longer subject to forfeiture in June 2023. An aggregate of 3,876,481 Class B ordinary shares set aside as the earnout escrow shares was to be forfeited as the 2021 net income and 2022 net income targets were not met. The shareholders of Class A and Class B ordinary shares have the same rights except for the voting and conversion rights. Each Class A ordinary share is entitled to one vote, and is not convertible into Class B ordinary share under any circumstance; and each Class B ordinary share is entitled to ten votes, and is convertible into one Class A ordinary share at any time by the holder thereof, subject to adjustments for any subdivision or combination. On February 16, 2022 and January 13, 2023, the Company held General Meetings of Shareholders that approved the increase by the number of votes attached to Class B Ordinary Shares from ten (10) votes per Class B Ordinary Share to twenty five (25) votes per Class B Ordinary Share, and from twenty five (25) votes per Class B Ordinary Share to one hundred (100) votes per Class B Ordinary Share, respectively. As of June 30, 2023 and December 31, 2022, there was an aggregate of 77,850,203 and 48,761,596 Class A ordinary shares issued and outstanding, respectively; and an aggregate of 9,843,096 Class B ordinary shares issued and outstanding each. As of June 30, 2023 and December 31, 2022, there was no

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 9 — Stock-Based Compensation 2020 Share Incentive Plan In June 2020, in connection with the Business Combination, the Company’s board approved the 2020 Share Incentive Plan (the “2020 Plan”) and reserved 4,632,449 ordinary shares for issuance thereunder. The Company’s employees, non-employee directors and consultants are eligible to receive options, restricted shares, restricted share units, dividend equivalents, deferred shares, share payments or share appreciation rights, which may be awarded or granted under the Plan (collectively, “Awards”). As of June 30, 2023 and December 31, 2022, a total of 3,936,504 shares each had been granted under the 2020 Plan and a total of 695,945 shares each remained available for future awards. On March 3, 2022, 2,450,000 deferred shares were granted to certain non-employee consultants for their services for the years of 2022 and 2023. All of the deferred shares granted are fully vested on the grant date. The Company estimated the fair value of shares at the closing price of $0.75 on the grant date in an aggregate of $1,837,500. The stock-based compensation expenses are recognized over the requisite service period. The following table provides the details of the total share-based payments under 2020 Plan during the six months ended June 30, 2023 and 2022. For the Six Months 2023 2022 Communication and technology $ 112,500 $ 112,500 Marketing 103,125 103,125 Professional fees 121,875 121,875 General and administrative 121,875 121,875 Total $ 459,375 $ 459,375 As of June 30, 2023 and December 31, 2022, approximately $0.5 million and $1 million of total unrecognized compensation expense related to future services was expected to be recognized over a period of approximately six months and one year, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Taxes [Abstract]
Income Taxes	Note 10 — Income Taxes The current and deferred portions of the income tax expense included in the unaudited condensed consolidated statements of operations and comprehensive income (loss) as determined in accordance with ASC 740, Income Taxes, are as follows: Six Months Ended June 30, 2023 2022 Current $ 1,058 $ 3,071 Deferred - - $ 1,058 $ 3,071 A reconciliation of the difference between the expected income tax expense or benefit computed at applicable statutory income tax rates and the Group’s income tax expense is shown in the following table: Six Months Ended June 30, 2023 2022 Income tax expense (benefit) at applicable statutory rate (1) $ 164,176 $ (3,472,095 ) Nondeductible expenses 322,688 358,810 Impact of foreign tax rate differential (2) (827,192 ) 2,490,170 Current year change in valuation allowance (657,611 ) 657,985 Adjustments in respect of current income tax of previous year 1,035,939 - Other (36,942 ) (31,799 ) Reported income taxes $ 1,058 $ 3,071 (1) The applicable statutory rate applied is based on the profits tax rates in Hong Kong. Effective for tax years ended on or after December 31, 2018, the applicable tax rate was 8.25% on the first HK $2,000,000 of assessable profits and 16.5% on any assessable profits above that threshold. The 8.25% tax rate can only be utilized by one entity in a controlled group. All other Hong Kong entities in the Group utilize the 16.5% tax rate. The Singapore entity within the Group has an applicable tax rate of 17.0%. The entity in the United States within the Group has a federal tax rate of 21.0%. (2) The Group also has entities domiciled in the British Virgin Islands and the Cayman Islands, but such entities are not subject to income or capital gains taxes. Significant components of the Group’s deferred tax assets (liabilities) are presented below: June 30, December 31, (unaudited) Deferred tax asset Net operating loss carryforwards $ 4,294,834 $ 4,952,445 Less: Valuation allowance (4,294,834 ) (4,952,445 ) Net deferred tax asset $ - $ - Management has applied a valuation allowance to the total amount of deferred tax assets based on the determination that it is more likely than not that the deferred tax asset will not be realized. This determination was based on the historic and estimated future profitability of the entities to which the deferred tax assets relate. The tax rules in Hong Kong do not allow the Group to file on a consolidated basis.

Earnings (Loss) Per Ordinary Sh

Earnings (Loss) Per Ordinary Share	6 Months Ended
	Jun. 30, 2023
Earnings (Loss) Per Ordinary Share [Abstract]
Earnings (Loss) per Ordinary Share	Note 11 — Earnings (Loss) per Ordinary Share The Company complies with accounting and disclosure requirements ASC Topic 260, “Earnings Per Share”, which requires earnings per share for each class of stock (ordinary shares and participating securities) to be calculated using the two-class method. The two-class method is an allocation of earnings between the holders of ordinary shares and a company’s participating security holders. Under the two-class method, earnings for the reporting period are allocated between ordinary shareholders and other security holders based on their respective participation rights in undistributed earnings. As the Company’s two classes of ordinary shares have the same dividend rights, earnings (loss) per share for each class of ordinary shares have the same results. In accordance with ASC 260-10-45, the 3,867,481 Class B of Earnout Escrow Shares are considered contingently returnable shares and therefore are excluded from the computation of basic earnings (loss) per share for all periods presented. Since June 16, 2021, 50% of 1,933,740 Class B of Indemnity Escrow Shares was included in the computation of basic earnings (loss) per share and the remaining 50% was included starting from June 16, 2022. For purposes of determining diluted earnings (loss) per ordinary share, basic earnings (loss) per ordinary share is further adjusted to include the effect of potential dilutive ordinary shares outstanding during the period. Potential ordinary shares consist of the incremental ordinary shares upon exercise of warrants using the treasury stock method and upon conversion of convertible debt using the if-converted method. For the six months ended June 30, 2023 and 2022, the following potential dilutive securities denominated in ordinary shares equivalents were excluded for the periods they were outstanding from the computation of diluted earnings (loss) per share because to do so would have been antidilutive. As a result, diluted earnings (loss) per ordinary share is the same as basic earnings (loss) per ordinary share for all periods presented. Six Months Ended June 30, 2023 2022 SPAC Warrants 17,795,000 17,795,000 August 2020 PIPE Warrants 729,167 729,167 January 2021 Call Options — 4,000,000 Series A Convertible Preferred Shares — 2,333,333 February 2021 Warrants 38,800,000 38,800,000 Series B Convertible Preferred Shares — 4,807,007 December 2021 Warrants 2,285,715 2,285,715 May 2022 Convertible Debenture 2,800,000 2,800,000 August 2022 and December 2022 Convertible Debentures 5,200,000 — Subsequently, an aggregate of approximately 101.4 million Class A ordinary shares and 14 million Class B ordinary shares were issued. See Note 13 subsequent events for details.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Reporting	Note 12 — Segment Reporting ASC 280, Disclosures about Segments of an Enterprise and Related Information, establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise which engage in business activities from which they may earn revenues and incur expenses, and about which separate financial information is available that is evaluated regularly by the chief operating decision-maker, or decision-making group, in deciding how to allocate resources and in assessing performance. Reportable segments are defined as an operating segment that either (a) exceeds 10% of revenue, or (b) reported profit or loss in absolute amount exceeds 10% of profit of all operating segments that did not report a loss or (c) exceeds 10% of the combined assets of all operating segments. The Group has three primary operating segments (1) futures and securities brokerage services; (2) market making (CFD) trading; (3) TRS trading; and (4) others. The Group’s futures and securities brokerage segment generates commissions income by enabling customers to trade in futures and securities markets throughout the world. The Group engages in market making (CFD trading) activities where it serves as the counterparty to its customers in derivative transactions. The Group experiences trading gains and losses from such market making (CFD trading) activities. The Group also generated income from TRS trading business including the commission income from the securities trading and interest income from the loan to customers. Other businesses include the following: (1) insurance brokerage segment which generates commissions by providing insurance brokerage services to high-net-worth individuals; (2) proprietary trading activities in investment securities, futures and derivatives, (3) sale of NFT and development NFT platform and Metaverse games; and (4) executive management functions and corporate overhead. Futures and securities brokerage CFD TRS services trading trading Other Total Six Months Ended June 30, 2023 Revenue $ 1,593,687 $ 9,148,435 $ 1,873,275 $ 695,600 $ 13,310,997 Commissions and fees 948,492 - 575,743 842,567 2,366,802 Compensation and benefits 485,478 - - 1,228,858 1,714,336 Occupancy - 8,880 8,880 373,491 391,251 Communication and technology 239,932 172,569 172,569 1,134,854 1,719,924 General and administrative 119,780 24,883 24,883 432,234 601,780 Crypto currencies - - - - - Professional fees 14,430 49,176 49,176 1,120,884 1,233,666 Research and development - - - - - Service fees - 217,308 343,557 558,716 1,119,581 Interest - - 1,210,091 388,387 1,598,478 Depreciation 155 400,000 400,000 74,703 874,858 Marketing 1,391 5,863 5,863 1,489,304 1,502,421 Payment service charge - (29,106 ) 48,291 - 19,185 Change in fair value of warrant liabilities - - - (453,761 ) (453,761 ) Impairment of fixed assets - - - - - Impairment of cryptocurrencies - - - - - Other operating expenses (5,158 ) - - (13,042 ) (18,200 ) 1,804,500 849,573 2,839,053 7,177,195 12,670,321 Income (loss) from operations $ (210,813 ) $ 8,298,862 $ (965,778 ) $ (6,481,595 ) $ 640,676 Total segment assets $ 5,784,066 $ 19,073,357 $ 54,167,567 $ 14,599,946 $ 93,624,936 Futures and securities brokerage CFD TRS services trading trading Other Total Six months ended June 30, 2022 Revenue $ 1,979,384 $ (6,911,887 ) $ (798,523 ) $ 1,381,295 $ (4,349,731 ) Commissions and fees 1,444,452 7,863 452,634 211,072 2,116,021 Compensation and benefits 506,055 - - 1,417,204 1,923,259 Occupancy - 1,800 1,800 369,028 372,628 Communication and technology 220,442 170,108 170,108 369,860 930,518 General and administrative 53,308 32,569 32,569 563,414 681,860 Crypto currencies - - - - - Professional fees 383 68,732 68,732 2,844,723 2,982,570 Research and development - - - 4,160,033 4,160,033 Service fees - 248,240 582,899 239,748 1,070,887 Interest - - 885,289 136,484 1,021,773 Depreciation 394 400,000 400,000 397,728 1,198,122 Marketing 1,181 34,000 34,000 322,030 391,211 Payment service charge - (69,981 ) 67,620 - (2,361 ) Change in fair value of warrant liabilities - - - (759,375 ) (759,375 ) Impairment of fixed assets - - - 1,691,079 1,691,079 Impairment of cryptocurrencies - - - 293,619 293,619 Other operating expenses (1,617 ) - - (21,711 ) (23,328 ) 2,224,598 893,331 2,695,651 12,234,936 18,048,516 Income (loss) from operations $ (245,214 ) $ (7,805,218 ) $ (3,494,174 ) $ (10,853,641 ) $ (22,398,247 ) Total segment assets $ 4,883,736 $ 22,768,398 $ 57,414,627 $ 18,168,359 $ 103,235,120

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 13 — Subsequent Events Subsequently, in July and August 2023, the remaining outstanding August 2022 Convertible Debenture along with the Make-Whole interest of $207,000 were fully converted into an aggregate of 10,401,151 Class A ordinary shares, also the whole December 2022 Convertible Debenture along with the Make-Whole interest of approximately $1.1 million were fully converted into an aggregate of 70,999,400 Class A ordinary shares. On September 2, 2023, the Company entered into a letter agreement (“September 2023 Letter Agreement”) with an accredited investor, wherein the investor agreed to exercise its purchase option to purchase an additional $2,500,000 debenture pursuant to the Securities Purchase Agreement dated as of August 9, 2022, by and between the Company and the investor. Pursuant to the September 2023 Letter Agreement, the Company issued a Series H ADS Purchase Warrant (the “Series H Warrants”) to purchase up to 13,158 ADSs with an exercise price equal to $1.90 per ADS and having a term of exercise expiring five years after the issuance. On September 5, 2023, the Company received net proceeds of $2,365,000 (the “Third Closing’) in consideration of the issuance of Convertible Debenture (the “September 2023 Debenture”) in the principal amount of $2,500,000. September 2023 Debenture has the same terms with the August 2022 and December 2022 Debentures. Subsequently, in September 2023, the Company received an aggregate of net proceeds of $0.7 million in exchange for the issuance of 20,000,000 Class A ordinary shares, represented by 400,000 ADSs, as a result of the partial exercise of Series E Warrants at an exercise price of $1.90 per ADS. On September 28, 2023, Lion Wealth Limited (“LWL”) entered into a Share Transfer Agreement with a third party, pursuant to which LWL sold its 100% ownership in Lion Investment (Hangzhou) Limited for a total cash consideration of $1,500,000. The Group received the sale proceeds in full in October 2023. The Group recorded a gain on sale of approximately $130,000 upon completion of the transaction. On October 6, 2023, the Company held the 2023 Annual Meeting of Shareholders (the “2023 Annual Meeting”). The 2023 Annual Meeting approved and adopted the Company’s 2023 Equity Incentive Plan, pursuant to which an aggregate of 33,818,770 ordinary shares will be awarded or granted. On October 31, 2023, the Compensation Committee approved that a total of 32,000,000 Class B ordinary shares were granted to two directors in exchange for their services through the third quarter of 2024. On December 14, 2023, a total of 14,000,000 Class B ordinary shares were vested and issued in this regard. The 2023 Annual Meeting also approved the increase of the Company’s authorized share capital from US$50,000 divided into 500,000,000 shares of a par value of US$0.0001 each, comprising of 300,000,000 Class A ordinary shares, 150,000,000 Class B ordinary shares, and 50,000,000 preferred shares of a par value of US$0.0001 each, by the creation of an additional 39,700,000,000 Class A ordinary shares, 7,350,000,000 Class B ordinary shares, and 2,450,000,000 preferred shares of a par value of US$0.0001 each, such that the authorized share capital shall be US$5,000,000 divided into 50,000,000,000 shares of a par value of US$0.0001 each, comprising of 40,000,000,000 Class A ordinary shares, 7,500,000,000 Class B ordinary shares, and 2,500,000,000 preferred shares of a par value of US$0.0001 each. On January 23, 2024, the Company entered into a second letter agreement (“January 2024 Letter Agreement”) with the accredited investor, wherein the investor agreed to exercise its purchase option to purchase an additional $1,000,000 debenture pursuant to the Securities Purchase Agreement dated as of August 9, 2022. Pursuant to the January 2024 Letter Agreement, the Company issued a Series I ADS Purchase Warrant (the “Series I Warrants”) to purchase up to 8,850 ADSs with an exercise price equal to $1.13 per ADS and having a term of exercise expiring five years after the issuance. On the same date, the Company received net proceeds of $940,000 (the “Fourth Closing’) in consideration of the issuance of Convertible Debenture (the “September 2023 Debenture”) in the principal amount of $1,000,000. January 2024 Debenture shares the same terms with the August 2022, December 2022 and September 2023 Debentures.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2023
Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements reflect all adjustments that, in the opinion of management, are of a normal recurring nature and are necessary to fairly present the financial statements for the interim periods. The condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and have been prepared in accordance with the regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. Results for the interim periods are not necessarily indicative of results to be expected for the full year. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 20-F for the year ended December 31, 2022, which was filed with the SEC on April 28, 2023.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company, and its subsidiaries in which it has a controlling financial interest. A subsidiary is an entity (including a structured entity), directly or indirectly, controlled by the Company. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in consolidation. The Group consolidates the loss of the subsidiaries and subtracts the net loss that is attributable to the non-controlling interest holders in calculating the net income (loss) that is attributable to the Group.
Reclassification	Reclassification Certain prior periods amounts have been reclassified to be comparable to the current period presentation. The reclassification has no effect on previously reported net assets or net income (loss).
Significant Accounting Policies	Significant Accounting Policies The Company’s significant accounting policies are included in Note 2 –Significant Accounting Policies in the Company’s 2022 Form 20-F. During the six months ended June 30, 2023, there were no significant changes made to the Company’s significant accounting policies.
New Accounting Standards Adopted	New Accounting Standards Adopted On January 1, 2023, the Group adopted FASB ASC Topic 326 – “Financial Instruments – Credit Losses” (“ASC Topic 326”) which replaces the incurred loss methodology with the current expected credit loss (“CECL”) methodology. The guidance applies to financial assets measured at amortized cost, held-to-maturity debt securities and off-balance sheet credit exposures. For on-balance sheet assets, an allowance must be recognized at the origination or purchase of in-scope assets and represents the expected credit losses over the contractual life of those assets. The Group adopted ASC Topic 326 using the modified retrospective approach for all in-scope assets, which did not result in an adjustment to the opening balance in retained earnings. The impact to the current period is not material since the Group’s in-scope assets are primarily receivables from broker-dealers and clearing organizations, the management considers that these receivables have a low risk of default and the counterparties have a strong capacity to meet their contractual obligation. An allowance for credit losses on other financial assets, including receivables from clients (commission receivables), other receivable and various deposits due from vendors which were included in prepaids, deposits and other and other assets, is estimated based on the aging of these financial assets. The settlement periods of commission receivables are usually short and within one month, the credit risk arising from receivables from clients is considered low. Other receivables and the deposits with various vendors were not material to the consolidated financial statements taken as a whole and historically the Group has not recorded an allowance for credit losses on their deposits. As a result, the allowance for credit losses for other financial assets were immaterial for current period.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2022, the Financial Accounting Standards Board (“FASB”) issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in this update clarify the guidance in Topic 820 when measuring the fair value of an equity security subject to contractual sale restrictions and introduce new disclosure requirements related to such equity securities. The amendments are effective for fiscal years beginning after December 15, 2023, with early adoption permitted. The Group does not expect the adoption to have a material impact on the consolidated financial statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU No. 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets, In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue Recognition [Abstract]
Schedule of Revenue from Contracts with Customers	The following table presents revenue from contracts with customers, in accordance with ASC Topic 606, by major source and geographic region: Six Months Ended June 30, 2023 2022 Insurance brokerage commissions $ 979,236 $ 340,218 Securities brokerage commissions 1,688,618 2,130,975 Market making commissions and fees 1,020,189 677,338 Sale of NFTs - 438,041 Total revenue from contracts with customers $ 3,688,043 $ 3,586,572 Hong Kong 2,667,854 2,909,234 Cayman Islands 1,020,189 677,338 $ 3,688,043 $ 3,586,572
Schedule of Trading Gains (Loss) Breakdown	The following table represents trading gain (loss) breakdown: For the Six Months Ended 2023 2022 CFD trading gains/(losses) $ 8,128,247 $ (7,589,240 ) TRS trading gains/(losses) 312,327 (3,014,475 ) Other trading gains/(losses) (621,755 ) 428,682 Total $ 7,818,819 $ (10,175,033 ) Trading Revenue Line Item in Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) 2023 2022 Trading gains (losses) $ 7,818,819 $ (10,175,033 )
Schedule of Consolidated Statements of Operations and Comprehensive Income (Loss)	The following table represents the effect of trading activities on the consolidated statements of operations and comprehensive income (loss): Trading Revenue Type of Instrument 2023 2022 Foreign Currency $ - $ (354 ) Stock Indices 9,091,210 (7,269,754 ) Commodities (962,963 ) (319,132 ) Equity (309,428 ) (2,585,793 ) $ 7,818,819 $ (10,175,033 )

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value [Abstract]
Schedule of Outstanding Options	The significant assumptions which the Company used to value the options in the Black-Sholes-Merton pricing model as of June 30, 2023 are as below. There were no outstanding options as of December 31, 2022. June 30, Stock price $ 0.7 - 3.8 Exercise price $ 0.6 - 3.6 Expected term in years 0.01 - 0.2 Expected dividend yield 0 % Volatility 21% - 48 % Risk-free interest Rate 3 %
Schedule of Fair Value Hierarchy for those Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table presents the Group’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis at June 30, 2023 and December 31, 2022: Quoted Prices in Active Significant Significant Total Assets Listed equity securities $ 16,835,069 $ - $ - $ 16,835,069 Option assets (ii) - 134,337 - 134,337 $ 16,835,069 $ 134,337 $ - $ 16,969,406 Liabilities Embedded derivative liabilities $ - $ (1,257,795 ) $ - $ (1,257,795 ) Option liabilities (i)(ii) - (134,337 ) - (134,337 ) Warrant liabilities (138,000 ) (64,500 ) - (202,500 ) $ (138,000 ) $ (1,456,632 ) $ - $ (1,594,632 ) (i) No collateral received or pledged for derivative contracts. (ii) Option assets balance was included in the line item “prepaids, deposits and other” in the condensed consolidated balance sheets. Option liabilities balance was included in the line item “accrued expenses and other payables” in the condensed consolidated balance sheets. Quoted Prices Significant Significant (Level 1) (Level 2) (Level 3) Total Assets Listed equity securities $ 11,104,047 $ - - $ 11,104,047 $ 11,104,047 $ - $ - $ 11,104,047 Liabilities Embedded derivative liabilities $ - $ (2,292,056 ) $ - $ (2,292,056 ) Warrant liabilities (460,000 ) (215,000 ) - (675,000 ) $ (460,000 ) $ (2,507,056 ) $ - $ (2,967,056 )
Schedule of Fair Values of Financial Assets and Liabilities, Excluding Financial Instruments	The following table presents the carrying values and estimated fair values of financial assets and liabilities, excluding financial instruments that are carried at fair value on a recurring basis, and information is provided on their classification within the fair value hierarchy. Quoted Prices in Active Markets for Significant Significant Total Identical Observable Unobservable Carrying Assets Inputs Inputs Estimated Value (Level 1) (Level 2) (Level 3) Fair Value Assets Cash and cash equivalents $ 15,763,073 $ 15,763,073 $ - $ - $ 15,763,073 Bank balances held on behalf of customers 1,626,680 1,626,680 - - 1,626,680 Receivables from broker-dealers and clearing organizations 33,301,424 - 33,301,424 - 33,301,424 Short-term loans receivable - - - - - Other receivables 50,670 - 50,670 - 50,670 $ 50,741,847 $ 17,389,753 $ 33,352,094 $ - $ 50,741,847 Liabilities Payables to customers $ 24,955,725 $ - $ 24,955,725 $ - $ 24,955,725 Payables to broker-dealers and clearing organizations 32,151,798 - 32,151,798 - 32,151,798 Accrued expenses and other payables 1,867,779 - 1,867,779 - 1,867,779 Short-term borrowings 109,376 - 109,376 - 109,376 Lease liability - current 606,430 - 606,430 - 606,430 Lease liability - noncurrent 309,155 - 309,155 - 309,155 Due to director 115,305 - 115,305 - 115,305 $ 60,115,568 $ - $ 60,115,568 $ - $ 60,115,568 Quoted Prices in Active Markets for Significant Significant Total Identical Observable Unobservable Estimated Value (Level 1) (Level 2) (Level 3) Fair Value Assets Cash and cash equivalents $ 11,159,610 $ 11,159,610 $ - $ - $ 11,159,610 Bank balances held on behalf of customers 3,242,989 3,242,989 - - 3,242,989 Receivables from broker-dealers and clearing organizations 33,342,254 - 33,342,254 - 33,342,254 Short-term loans receivable 7,126,021 7,126,021 - - 7,126,021 Other receivables 534,437 - 534,437 - 534,437 $ 55,405,311 $ 21,528,620 $ 33,876,691 $ - $ 55,405,311 Liabilities Payables to customers $ 23,829,192 $ - $ 23,829,192 $ - $ 23,829,192 Payables to broker-dealers and clearing organizations 24,963,524 - 24,963,524 - 24,963,524 Accrued expenses and other payables 1,923,305 - 1,923,305 - 1,923,305 Short-term borrowings 110,000 - 110,000 - 110,000 Lease liability - current 601,531 - 601,531 - 601,531 Lease liability - noncurrent 618,705 - 618,705 - 618,705 Due to director 146,671 - 146,671 - 146,671 $ 52,192,928 $ - $ 52,192,928 $ - $ 52,192,928

Fixed Assets, Net (Tables)

Fixed Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Fixed Assets, Net [Abstract]
Schedule of Fixed Assets	Fixed assets consisted of the following as of June 30, 2023 and December 31, 2022: June 30, December 31, 2023 2022 Mining Machines $ - $ 2,585,119 Software 16,000,000 16,000,000 Leasehold improvement 38,402 38,329 Office and equipment 281,260 305,651 Total cost of fixed assets 16,319,662 18,929,099 Less: accumulated depreciation (3,366,946 ) (3,452,727 ) Less: impairment of mining machines - (1,690,028 ) Fixed assets, net $ 12,952,716 $ 13,786,344

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2023
Derivatives [Abstract]
Schedule of the Group’s Open Derivative Positions	A summary of the Group’s open positions at June 30, 2023 is as follows: Fair Value Fair Value Net Description of Asset of Liability Amount Stock Indices OTC option contracts $ 134,337 $ (134,337 ) $ - $ 134,337 $ (134,337 ) $ - Description Fair Value Fair Value Net Amount Stock Indices CFDs 54 - 54 $ 54 $ - $ 54

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Stock-Based Compensation [Abstract]
Schedule of Share-Based Payments	The following table provides the details of the total share-based payments under 2020 Plan during the six months ended June 30, 2023 and 2022. For the Six Months 2023 2022 Communication and technology $ 112,500 $ 112,500 Marketing 103,125 103,125 Professional fees 121,875 121,875 General and administrative 121,875 121,875 Total $ 459,375 $ 459,375

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2023
Income Taxes [Abstract]
Schedule Of Current and Deferred Portions of the Income Tax Expense	The current and deferred portions of the income tax expense included in the unaudited condensed consolidated statements of operations and comprehensive income (loss) as determined in accordance with ASC 740, Income Taxes, are as follows: Six Months Ended June 30, 2023 2022 Current $ 1,058 $ 3,071 Deferred - - $ 1,058 $ 3,071
Schedule of Income Tax Expense	A reconciliation of the difference between the expected income tax expense or benefit computed at applicable statutory income tax rates and the Group’s income tax expense is shown in the following table: Six Months Ended June 30, 2023 2022 Income tax expense (benefit) at applicable statutory rate (1) $ 164,176 $ (3,472,095 ) Nondeductible expenses 322,688 358,810 Impact of foreign tax rate differential (2) (827,192 ) 2,490,170 Current year change in valuation allowance (657,611 ) 657,985 Adjustments in respect of current income tax of previous year 1,035,939 - Other (36,942 ) (31,799 ) Reported income taxes $ 1,058 $ 3,071 (1) The applicable statutory rate applied is based on the profits tax rates in Hong Kong. Effective for tax years ended on or after December 31, 2018, the applicable tax rate was 8.25% on the first HK $2,000,000 of assessable profits and 16.5% on any assessable profits above that threshold. The 8.25% tax rate can only be utilized by one entity in a controlled group. All other Hong Kong entities in the Group utilize the 16.5% tax rate. The Singapore entity within the Group has an applicable tax rate of 17.0%. The entity in the United States within the Group has a federal tax rate of 21.0%. (2) The Group also has entities domiciled in the British Virgin Islands and the Cayman Islands, but such entities are not subject to income or capital gains taxes.
Schedule of Group’s Deferred Tax Assets (Liabilities)	Significant components of the Group’s deferred tax assets (liabilities) are presented below: June 30, December 31, (unaudited) Deferred tax asset Net operating loss carryforwards $ 4,294,834 $ 4,952,445 Less: Valuation allowance (4,294,834 ) (4,952,445 ) Net deferred tax asset $ - $ -

Earnings (Loss) Per Ordinary _2

Earnings (Loss) Per Ordinary Share (Tables)	6 Months Ended
	Jun. 30, 2023
Schedule of Basic Earnings (Loss) Per Ordinary Share [Abstract]
Schedule of Basic Earnings (Loss) Per Ordinary Share	As a result, diluted earnings (loss) per ordinary share is the same as basic earnings (loss) per ordinary share for all periods presented. Six Months Ended June 30, 2023 2022 SPAC Warrants 17,795,000 17,795,000 August 2020 PIPE Warrants 729,167 729,167 January 2021 Call Options — 4,000,000 Series A Convertible Preferred Shares — 2,333,333 February 2021 Warrants 38,800,000 38,800,000 Series B Convertible Preferred Shares — 4,807,007 December 2021 Warrants 2,285,715 2,285,715 May 2022 Convertible Debenture 2,800,000 2,800,000 August 2022 and December 2022 Convertible Debentures 5,200,000 —

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Operating Segments	Futures and securities brokerage CFD TRS services trading trading Other Total Six Months Ended June 30, 2023 Revenue $ 1,593,687 $ 9,148,435 $ 1,873,275 $ 695,600 $ 13,310,997 Commissions and fees 948,492 - 575,743 842,567 2,366,802 Compensation and benefits 485,478 - - 1,228,858 1,714,336 Occupancy - 8,880 8,880 373,491 391,251 Communication and technology 239,932 172,569 172,569 1,134,854 1,719,924 General and administrative 119,780 24,883 24,883 432,234 601,780 Crypto currencies - - - - - Professional fees 14,430 49,176 49,176 1,120,884 1,233,666 Research and development - - - - - Service fees - 217,308 343,557 558,716 1,119,581 Interest - - 1,210,091 388,387 1,598,478 Depreciation 155 400,000 400,000 74,703 874,858 Marketing 1,391 5,863 5,863 1,489,304 1,502,421 Payment service charge - (29,106 ) 48,291 - 19,185 Change in fair value of warrant liabilities - - - (453,761 ) (453,761 ) Impairment of fixed assets - - - - - Impairment of cryptocurrencies - - - - - Other operating expenses (5,158 ) - - (13,042 ) (18,200 ) 1,804,500 849,573 2,839,053 7,177,195 12,670,321 Income (loss) from operations $ (210,813 ) $ 8,298,862 $ (965,778 ) $ (6,481,595 ) $ 640,676 Total segment assets $ 5,784,066 $ 19,073,357 $ 54,167,567 $ 14,599,946 $ 93,624,936 Futures and securities brokerage CFD TRS services trading trading Other Total Six months ended June 30, 2022 Revenue $ 1,979,384 $ (6,911,887 ) $ (798,523 ) $ 1,381,295 $ (4,349,731 ) Commissions and fees 1,444,452 7,863 452,634 211,072 2,116,021 Compensation and benefits 506,055 - - 1,417,204 1,923,259 Occupancy - 1,800 1,800 369,028 372,628 Communication and technology 220,442 170,108 170,108 369,860 930,518 General and administrative 53,308 32,569 32,569 563,414 681,860 Crypto currencies - - - - - Professional fees 383 68,732 68,732 2,844,723 2,982,570 Research and development - - - 4,160,033 4,160,033 Service fees - 248,240 582,899 239,748 1,070,887 Interest - - 885,289 136,484 1,021,773 Depreciation 394 400,000 400,000 397,728 1,198,122 Marketing 1,181 34,000 34,000 322,030 391,211 Payment service charge - (69,981 ) 67,620 - (2,361 ) Change in fair value of warrant liabilities - - - (759,375 ) (759,375 ) Impairment of fixed assets - - - 1,691,079 1,691,079 Impairment of cryptocurrencies - - - 293,619 293,619 Other operating expenses (1,617 ) - - (21,711 ) (23,328 ) 2,224,598 893,331 2,695,651 12,234,936 18,048,516 Income (loss) from operations $ (245,214 ) $ (7,805,218 ) $ (3,494,174 ) $ (10,853,641 ) $ (22,398,247 ) Total segment assets $ 4,883,736 $ 22,768,398 $ 57,414,627 $ 18,168,359 $ 103,235,120

Organization and Principal Ac_2

Organization and Principal Activities (Details)	6 Months Ended
	Jun. 30, 2023 shares
Class A Ordinary Share [Member]
Organization and Principal Activities (Details) [Line Items]
Ordinary share	1

Revenue Recognition (Details) -

Revenue Recognition (Details) - Schedule of Revenue from Contracts with Customers - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Revenue Recognition (Details) - Schedule of Revenue from Contracts with Customers [Line Items]
Insurance brokerage commissions	$ 979,236	$ 340,218
Securities brokerage commissions	1,688,618	2,130,975
Market making commissions and fees	1,020,189	677,338
Sale of NFTs		438,041
Total revenue from contracts with customers	3,688,043	3,586,572
Geographic revenue	3,688,043	3,586,572
Hong Kong [Member]
Revenue Recognition (Details) - Schedule of Revenue from Contracts with Customers [Line Items]
Geographic revenue	2,667,854	2,909,234
Cayman Islands [Member]
Revenue Recognition (Details) - Schedule of Revenue from Contracts with Customers [Line Items]
Geographic revenue	$ 1,020,189	$ 677,338

Revenue Recognition (Details)_2

Revenue Recognition (Details) - Schedule of Trading Gains (Loss) Breakdown - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Schedule Of Trading Gains Loss Breakdown [Abstract]
CFD trading gains/(losses)	$ 8,128,247	$ (7,589,240)
TRS trading gains/(losses)	312,327	(3,014,475)
Other trading losses	(621,755)	428,682
Total	7,818,819	(10,175,033)
Trading gains (losses)	$ 7,818,819	$ (10,175,033)

Revenue Recognition (Details)_3

Revenue Recognition (Details) - Schedule of Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Schedule Of Consolidated Statements Of Operations And Comprehensive Income Loss [Abstract]
Foreign Currency		$ (354)
Stock Indices	$ 9,091,210	(7,269,754)
Commodities	(962,963)	(319,132)
Equity	(309,428)	(2,585,793)
Total	$ 7,818,819	$ (10,175,033)

Fair Value (Details) - Schedule

Fair Value (Details) - Schedule of Outstanding Options - Monte-Carlo Simulation model [Member]	6 Months Ended
	Jun. 30, 2023 $ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected dividend yield	0%
Risk-free interest Rate	3%
Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Stock price	$ 0.7
Exercise price	$ 0.6
Expected term in years	3 days
Volatility	21%
Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Stock price	$ 3.8
Exercise price	$ 3.6
Expected term in years	2 months 12 days
Volatility	48%

Fair Value (Details) - Schedu_2

Fair Value (Details) - Schedule of Fair Value Hierarchy for those Assets and Liabilities Measured at Fair Value on a Recurring Basis - Fair Value, Recurring [Member] - USD ($)		Jun. 30, 2023	Dec. 31, 2022
Assets
Listed equity securities		$ 16,835,069	$ 11,104,047
Option assets	[1]	134,337
Total Assets		16,969,406	11,104,047
Liabilities
Embedded derivative liabilities		(1,257,795)	(2,292,056)
Option liabilities	[1],[2]	(134,337)
Warrant liabilities		(202,500)	(675,000)
Total Liabilites		(1,594,632)	(2,967,056)
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets
Listed equity securities		16,835,069	11,104,047
Option assets	[1]
Total Assets		16,835,069	11,104,047
Liabilities
Embedded derivative liabilities
Option liabilities	[1],[2]
Warrant liabilities		(138,000)	(460,000)
Total Liabilites		(138,000)	(460,000)
Significant Observable Inputs (Level 2) [Member]
Assets
Listed equity securities
Option assets	[1]	134,337
Total Assets		134,337
Liabilities
Embedded derivative liabilities		(1,257,795)	(2,292,056)
Option liabilities	[1],[2]	(134,337)
Warrant liabilities		(64,500)	(215,000)
Total Liabilites		(1,456,632)	(2,507,056)
Significant Unobservable Inputs (Level 3) [Member]
Assets
Listed equity securities
Option assets	[1]
Total Assets
Liabilities
Embedded derivative liabilities
Option liabilities	[1],[2]
Warrant liabilities
Total Liabilites
[1]Option assets balance was included in the line item “prepaids, deposits and other” in the condensed consolidated balance sheets. Option liabilities balance was included in the line item “accrued expenses and other payables” in the condensed consolidated balance sheets.[2]No collateral received or pledged for derivative contracts.

Fair Value (Details) - Schedu_3

Fair Value (Details) - Schedule of Fair Values of Financial Assets and Liabilities, Excluding Financial Instruments - Fair Value, Recurring [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 15,763,073	$ 11,159,610
Bank balances held on behalf of customers	1,626,680	3,242,989
Receivables from broker-dealers and clearing organizations	33,301,424	33,342,254
Short-term loans receivable		7,126,021
Other receivables	50,670	534,437
Total assets in fair value	50,741,847	55,405,311
Liabilities
Payables to customers	24,955,725	23,829,192
Payables to broker-dealers and clearing organizations	32,151,798	24,963,524
Accrued expenses and other payables	1,867,779	1,923,305
Short-term borrowings	109,376	110,000
Lease liability - current	606,430	601,531
Lease liability - noncurrent	309,155	618,705
Due to director	115,305	146,671
Total liabilities in fair value	60,115,568	52,192,928
Estimated Fair Value [Member]
Assets
Cash and cash equivalents	15,763,073	11,159,610
Bank balances held on behalf of customers	1,626,680	3,242,989
Receivables from broker-dealers and clearing organizations	33,301,424	33,342,254
Short-term loans receivable		7,126,021
Other receivables	50,670	534,437
Total assets in fair value	50,741,847	55,405,311
Liabilities
Payables to customers	24,955,725	23,829,192
Payables to broker-dealers and clearing organizations	32,151,798	24,963,524
Accrued expenses and other payables	1,867,779	1,923,305
Short-term borrowings	109,376	110,000
Lease liability - current	606,430	601,531
Lease liability - noncurrent	309,155	618,705
Due to director	115,305	146,671
Total liabilities in fair value	60,115,568	52,192,928
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets
Cash and cash equivalents	15,763,073	11,159,610
Bank balances held on behalf of customers	1,626,680	3,242,989
Receivables from broker-dealers and clearing organizations
Short-term loans receivable		7,126,021
Other receivables
Total assets in fair value	17,389,753	21,528,620
Liabilities
Payables to customers
Payables to broker-dealers and clearing organizations
Accrued expenses and other payables
Short-term borrowings
Lease liability - current
Lease liability - noncurrent
Due to director
Total liabilities in fair value
Significant Observable Inputs (Level 2) [Member]
Assets
Cash and cash equivalents
Bank balances held on behalf of customers
Receivables from broker-dealers and clearing organizations	33,301,424	33,342,254
Short-term loans receivable
Other receivables	50,670	534,437
Total assets in fair value	33,352,094	33,876,691
Liabilities
Payables to customers	24,955,725	23,829,192
Payables to broker-dealers and clearing organizations	32,151,798	24,963,524
Accrued expenses and other payables	1,867,779	1,923,305
Short-term borrowings	109,376	110,000
Lease liability - current	606,430	601,531
Lease liability - noncurrent	309,155	618,705
Due to director	115,305	146,671
Total liabilities in fair value	60,115,568	52,192,928
Significant Unobservable Inputs (Level 3) [Member]
Assets
Cash and cash equivalents
Bank balances held on behalf of customers
Receivables from broker-dealers and clearing organizations
Short-term loans receivable
Other receivables
Total assets in fair value
Liabilities
Payables to customers
Payables to broker-dealers and clearing organizations
Accrued expenses and other payables
Short-term borrowings
Lease liability - current
Lease liability - noncurrent
Due to director
Total liabilities in fair value

Short-term Loans Receivable (De

Short-term Loans Receivable (Details) - USD ($)		6 Months Ended	12 Months Ended
	Apr. 06, 2023	Jun. 30, 2023	Dec. 31, 2022
Short-term Loans Receivable (Details) [Line Items]
Notes receivable			$ 8,564,000
ReReceived repayment amount			1,499,000
Interest amount			$ 51,000
Accrued interest rate, percentage			12%
Loans receivable			$ 7,126,000
Interest income earned			500,759
Purchase price of system software	$ 7,850,000
Accrued interest	$ 7,766,000
Loan receivable			$ 7,126,021
Assets purchase		7,766,000
Loan Agreement [Member]
Short-term Loans Receivable (Details) [Line Items]
Loan receivable		$ 0

Fixed Assets, Net (Details)

Fixed Assets, Net (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Fixed Assets, Net (Details) [Line Items]
Depreciation expense	$ 874,858	$ 1,198,122
Impairment charges		293,619
Other Machinery and Equipment [Member]
Fixed Assets, Net (Details) [Line Items]
Impairment charges	$ 0	$ 1,690,028

Fixed Assets, Net (Details) - S

Fixed Assets, Net (Details) - Schedule of Fixed Assets - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total cost of fixed assets	$ 16,319,662	$ 18,929,099
Less: accumulated depreciation	(3,366,946)	(3,452,727)
Less: impairment of mining machines		(1,690,028)
Fixed assets, net	12,952,716	13,786,344
Mining Machines [Member]
Property, Plant and Equipment [Line Items]
Total cost of fixed assets		2,585,119
Software [Member]
Property, Plant and Equipment [Line Items]
Total cost of fixed assets	16,000,000	16,000,000
Leasehold improvement [Member]
Property, Plant and Equipment [Line Items]
Total cost of fixed assets	38,402	38,329
Office and equipment [Member]
Property, Plant and Equipment [Line Items]
Total cost of fixed assets	$ 281,260	$ 305,651

Derivatives (Details)

Derivatives (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Derivatives [Abstract]
Derivative assets	$ 0	$ 54

Derivatives (Details) - Schedul

Derivatives (Details) - Schedule of the Group’s Open Derivative Positions - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Subordinated Borrowing [Line Items]
Fair Value of Asset	$ 134,337	$ 54
Fair Value of Liability	(134,337)
Net Amount		54
Stock Indices OTC option contracts [Member]
Subordinated Borrowing [Line Items]
Fair Value of Asset	134,337
Fair Value of Liability	(134,337)
Net Amount
Stock Indices CFDs [Member]
Subordinated Borrowing [Line Items]
Fair Value of Asset		54
Fair Value of Liability
Net Amount		$ 54

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - $ / shares		6 Months Ended
		Jun. 30, 2023		Dec. 31, 2022		Nov. 12, 2020	Jun. 16, 2020
Stockholders’ Equity [Line Items]
Ordinary shares authorized		450,000,000
Ordinary shares, shares outstanding							17,399,176
Conversion rights description		Each Class A ordinary share is entitled to one vote, and is not convertible into Class B ordinary share under any circumstance; and each Class B ordinary share is entitled to ten votes, and is convertible into one Class A ordinary share at any time by the holder thereof, subject to adjustments for any subdivision or combination. On February 16, 2022 and January 13, 2023, the Company held General Meetings of Shareholders that approved the increase by the number of votes attached to Class B Ordinary Shares from ten (10) votes per Class B Ordinary Share to twenty five (25) votes per Class B Ordinary Share, and from twenty five (25) votes per Class B Ordinary Share to one hundred (100) votes per Class B Ordinary Share, respectively.
Class A Ordinary Shares [Member]
Stockholders’ Equity [Line Items]
Ordinary shares, par value (in Dollars per share)	[1]	$ 0.0001		$ 0.0001
Divided into ordinary shares		300,000,000
Additional shares issued		300,000,000				29,591
Ordinary shares, shares outstanding		77,850,203	[1]	48,761,596	[1]		7,647,962
Ordinary shares, shares issued	[1]	77,850,203		48,761,596
Class B Ordinary Shares [Member]
Stockholders’ Equity [Line Items]
Ordinary shares, par value (in Dollars per share)	[1]	$ 0.0001		$ 0.0001
Divided into ordinary shares		150,000,000
Additional shares issued		150,000,000				91,882
Ordinary shares, shares outstanding		9,843,096	[1]	9,843,096	[1]		9,751,214
Aggregate ordinary shares		1,933,740
Forfeited shares		3,876,481
Ordinary shares, shares issued	[1]	9,843,096		9,843,096
Preferred Stock [Member]
Stockholders’ Equity [Line Items]
Additional shares issued		50,000,000
Preferred shares, par value (in Dollars per share)		$ 0.0001
Common Stock [Member]
Stockholders’ Equity [Line Items]
Additional shares issued						121,473
Series A Preferred Shares [Member]
Stockholders’ Equity [Line Items]
Preferred shares issued
Preferred shares outstanding
[1]The numbers of authorized shares have been retrospectively restated to reflect the increase approved by the Company’s 2023 Annual Meeting of Shareholders on October 6, 2023.

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($)				1 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Mar. 03, 2022	Jun. 30, 2020
Stock-Based Compensation (Details) [Line Items]
Deferred shares granted to employees, non-employee directors and consultants			2,450,000
Price per share (in Dollars per share)			$ 0.75
Aggregate amount (in Dollars)			$ 1,837,500
Total unrecognized compensation expense (in Dollars)	$ 500,000	$ 1,000,000
2020 Share Incentive Plan [Member]
Stock-Based Compensation (Details) [Line Items]
Ordinary shares issued				4,632,449
Total shares granted	3,936,504	3,936,504
Shares remained available for future awards	695,945

Stock-Based Compensation (Det_2

Stock-Based Compensation (Details) - Schedule of Share-Based Payments - 2020 Share Incentive Plan [Member] - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Stock-Based Compensation (Details) - Schedule of Share-Based Payments [Line Items]
Communication and technology	$ 112,500	$ 112,500
Marketing	103,125	103,125
Professional fees	121,875	121,875
General and administrative	121,875	121,875
Total	$ 459,375	$ 459,375

Income Taxes (Details)

Income Taxes (Details) - HKD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2018
Income Taxes (Details) [Line Items]
Income tax rate percentage	8.25%	8.25%
Income tax amount (in Dollars)		$ 2,000,000
Federal tax rate percentage	21%
Hong Kong [Member]
Income Taxes (Details) [Line Items]
Income tax rate percentage	16.50%	16.50%
Singapore [Member]
Income Taxes (Details) [Line Items]
Income tax rate percentage	17%

Income Taxes (Details) - Schedu

Income Taxes (Details) - Schedule Of Current and Deferred Portions of the Income Tax Expense - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Schedule of Current and Deferred Portions of the Income Tax Expense [Abstract]
Current	$ 1,058	$ 3,071
Deferred
Income tax expense	$ 1,058	$ 3,071

Income Taxes (Details) - Sche_2

Income Taxes (Details) - Schedule of Income Tax Expense - USD ($)		6 Months Ended
		Jun. 30, 2023	Jun. 30, 2022
Schedule of Income Tax Expense [Abstract]
Income tax expense (benefit) at applicable statutory rate	[1]	$ 164,176	$ (3,472,095)
Nondeductible expenses		322,688	358,810
Impact of foreign tax rate differential	[2]	(827,192)	2,490,170
Current year change in valuation allowance		(657,611)	657,985
Adjustments in respect of current income tax of previous year		1,035,939
Other		(36,942)	(31,799)
Reported income taxes		$ 1,058	$ 3,071
[1]The applicable statutory rate applied is based on the profits tax rates in Hong Kong. Effective for tax years ended on or after December 31, 2018, the applicable tax rate was 8.25% on the first HK $2,000,000 of assessable profits and 16.5% on any assessable profits above that threshold. The 8.25% tax rate can only be utilized by one entity in a controlled group. All other Hong Kong entities in the Group utilize the 16.5% tax rate. The Singapore entity within the Group has an applicable tax rate of 17.0%. The entity in the United States within the Group has a federal tax rate of 21.0%.[2] The Group also has entities domiciled in the British Virgin Islands and the Cayman Islands, but such entities are not subject to income or capital gains taxes.

Income Taxes (Details) - Sche_3

Income Taxes (Details) - Schedule of Group’s Deferred Tax Assets (Liabilities) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Deferred tax asset
Net operating loss carryforwards	$ 4,294,834	$ 4,952,445
Less: Valuation allowance	(4,294,834)	(4,952,445)
Net deferred tax asset

Earnings (Loss) Per Ordinary _3

Earnings (Loss) Per Ordinary Share (Details) - shares		6 Months Ended
	Jun. 16, 2021	Jun. 30, 2023	Jun. 16, 2022
Earnings (Loss) Per Ordinary Share (Details) [Line Items]
Escrow shares		3,867,481
Percentage of escrow shares	50%		50%
Class B Ordinary Shares [Member]
Earnings (Loss) Per Ordinary Share (Details) [Line Items]
Escrow shares	1,933,740
Share issued		14,000,000
Class A Ordinary Shares [Member]
Earnings (Loss) Per Ordinary Share (Details) [Line Items]
Share issued		101,400,000

Earnings (Loss) Per Ordinary _4

Earnings (Loss) Per Ordinary Share (Details) - Schedule of Basic Earnings (Loss) Per Ordinary Share - shares	Jun. 30, 2023	Jun. 30, 2022
SPAC Warrants [Member]
Earnings (Loss) Per Ordinary Share (Details) - Schedule of Basic Earnings (Loss) Per Ordinary Share [Line Items]
Total basic and diluted earnings (loss) per ordinary share	17,795,000	17,795,000
August 2020 PIPE Warrants [Member]
Earnings (Loss) Per Ordinary Share (Details) - Schedule of Basic Earnings (Loss) Per Ordinary Share [Line Items]
Total basic and diluted earnings (loss) per ordinary share	729,167	729,167
January 2021 Call Options [Member]
Earnings (Loss) Per Ordinary Share (Details) - Schedule of Basic Earnings (Loss) Per Ordinary Share [Line Items]
Total basic and diluted earnings (loss) per ordinary share		4,000,000
Series A Convertible Preferred Shares [Member]
Earnings (Loss) Per Ordinary Share (Details) - Schedule of Basic Earnings (Loss) Per Ordinary Share [Line Items]
Total basic and diluted earnings (loss) per ordinary share		2,333,333
February 2021 Warrants [Member]
Earnings (Loss) Per Ordinary Share (Details) - Schedule of Basic Earnings (Loss) Per Ordinary Share [Line Items]
Total basic and diluted earnings (loss) per ordinary share	38,800,000	38,800,000
Series B Convertible Preferred Shares [Member]
Earnings (Loss) Per Ordinary Share (Details) - Schedule of Basic Earnings (Loss) Per Ordinary Share [Line Items]
Total basic and diluted earnings (loss) per ordinary share		4,807,007
December 2021 Warrants [Member]
Earnings (Loss) Per Ordinary Share (Details) - Schedule of Basic Earnings (Loss) Per Ordinary Share [Line Items]
Total basic and diluted earnings (loss) per ordinary share	2,285,715	2,285,715
May 2022 Convertible Debenture [Member]
Earnings (Loss) Per Ordinary Share (Details) - Schedule of Basic Earnings (Loss) Per Ordinary Share [Line Items]
Total basic and diluted earnings (loss) per ordinary share	2,800,000	2,800,000
August 2022 and Decemer 2022 Convertible Debentures [Member]
Earnings (Loss) Per Ordinary Share (Details) - Schedule of Basic Earnings (Loss) Per Ordinary Share [Line Items]
Total basic and diluted earnings (loss) per ordinary share	5,200,000

Segment Reporting (Details)

Segment Reporting (Details)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Operating segments, description	Reportable segments are defined as an operating segment that either (a) exceeds 10% of revenue, or (b) reported profit or loss in absolute amount exceeds 10% of profit of all operating segments that did not report a loss or (c) exceeds 10% of the combined assets of all operating segments.
Number of operating segments	3

Segment Reporting (Details) - S

Segment Reporting (Details) - Schedule of Operating Segments - Other Segments [Member] - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues (Losses)	$ 13,310,997	$ (4,349,731)
Commissions and fees	2,366,802	2,116,021
Compensation and benefits	1,714,336	1,923,259
Occupancy	391,251	372,628
Communication and technology	1,719,924	930,518
General and administrative	601,780	681,860
Crypto currencies
Professional fees	1,233,666	2,982,570
Research and development		4,160,033
Service fees	1,119,581	1,070,887
Interest	1,598,478	1,021,773
Depreciation	874,858	1,198,122
Marketing	1,502,421	391,211
Payment service charge	19,185	(2,361)
Change in fair value of warrant liabilities	(453,761)	(759,375)
Impairment of fixed assets		1,691,079
Impairment of cryptocurrencies		293,619
Other operating expenses	(18,200)	(23,328)
Total operating expenses	12,670,321	18,048,516
Income (loss) from operations	640,676	(22,398,247)
Total segment assets	93,624,936	103,235,120
Futures and securities brokerage services [Member]
Segment Reporting Information [Line Items]
Revenues (Losses)	1,593,687	1,979,384
Commissions and fees	948,492	1,444,452
Compensation and benefits	485,478	506,055
Occupancy
Communication and technology	239,932	220,442
General and administrative	119,780	53,308
Crypto currencies
Professional fees	14,430	383
Research and development
Service fees
Interest
Depreciation	155	394
Marketing	1,391	1,181
Payment service charge
Change in fair value of warrant liabilities
Impairment of fixed assets
Impairment of cryptocurrencies
Other operating expenses	(5,158)	(1,617)
Total operating expenses	1,804,500	2,224,598
Income (loss) from operations	(210,813)	(245,214)
Total segment assets	5,784,066	4,883,736
CFD trading [Member]
Segment Reporting Information [Line Items]
Revenues (Losses)	9,148,435	(6,911,887)
Commissions and fees		7,863
Compensation and benefits
Occupancy	8,880	1,800
Communication and technology	172,569	170,108
General and administrative	24,883	32,569
Crypto currencies
Professional fees	49,176	68,732
Research and development
Service fees	217,308	248,240
Interest
Depreciation	400,000	400,000
Marketing	5,863	34,000
Payment service charge	(29,106)	(69,981)
Change in fair value of warrant liabilities
Impairment of fixed assets
Impairment of cryptocurrencies
Other operating expenses
Total operating expenses	849,573	893,331
Income (loss) from operations	8,298,862	(7,805,218)
Total segment assets	19,073,357	22,768,398
TRS trading [Member]
Segment Reporting Information [Line Items]
Revenues (Losses)	1,873,275	(798,523)
Commissions and fees	575,743	452,634
Compensation and benefits
Occupancy	8,880	1,800
Communication and technology	172,569	170,108
General and administrative	24,883	32,569
Crypto currencies
Professional fees	49,176	68,732
Research and development
Service fees	343,557	582,899
Interest	1,210,091	885,289
Depreciation	400,000	400,000
Marketing	5,863	34,000
Payment service charge	48,291	67,620
Change in fair value of warrant liabilities
Impairment of fixed assets
Impairment of cryptocurrencies
Other operating expenses
Total operating expenses	2,839,053	2,695,651
Income (loss) from operations	(965,778)	(3,494,174)
Total segment assets	54,167,567	57,414,627
Other [Member]
Segment Reporting Information [Line Items]
Revenues (Losses)	695,600	1,381,295
Commissions and fees	842,567	211,072
Compensation and benefits	1,228,858	1,417,204
Occupancy	373,491	369,028
Communication and technology	1,134,854	369,860
General and administrative	432,234	563,414
Crypto currencies
Professional fees	1,120,884	2,844,723
Research and development		4,160,033
Service fees	558,716	239,748
Interest	388,387	136,484
Depreciation	74,703	397,728
Marketing	1,489,304	322,030
Payment service charge
Change in fair value of warrant liabilities	(453,761)	(759,375)
Impairment of fixed assets		1,691,079
Impairment of cryptocurrencies		293,619
Other operating expenses	(13,042)	(21,711)
Total operating expenses	7,177,195	12,234,936
Income (loss) from operations	(6,481,595)	(10,853,641)
Total segment assets	$ 14,599,946	$ 18,168,359

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)

1 Months Ended

Jan. 23, 2024

Dec. 14, 2023

Sep. 28, 2023

Sep. 05, 2023

Sep. 02, 2023

Sep. 30, 2023

Aug. 31, 2023

Jul. 31, 2023

Oct. 31, 2023

Oct. 06, 2023

Jun. 30, 2023

Nov. 12, 2020

Subsequent Events (Details) [Line Items]

Share capital (in Dollars)

$ 5,000,000

Share authorized

50,000,000,000

Share par value (in Dollars per share)

$ 0.0001

Preferred share authorized

2,500,000,000

Preferred shares, par value (in Dollars per share)

$ 0.0001

Class A Ordinary Shares [Member]

Subsequent Events (Details) [Line Items]

Common stock comprising shares

300,000,000

29,591

Additional common stock authorized

39,700,000,000

Class B ordinary shares [Member]

Subsequent Events (Details) [Line Items]

Common stock comprising shares

150,000,000

91,882

Additional common stock authorized

7,350,000,000

Preferred Stock [Member]

Subsequent Events (Details) [Line Items]

Common stock comprising shares

50,000,000

Preferred share authorized

50,000,000

Preferred shares, par value (in Dollars per share)

$ 0.0001

Additional preferred share authorized

2,450,000,000

Additional preferred stock par value (in Dollars per share)

$ 0.0001

Subsequent Event [Member] | Class A Ordinary Shares [Member] | August 2022 Convertible Debenture [Member]

Subsequent Events (Details) [Line Items]

Make-whole interest amount (in Dollars)

$ 207,000

Debt converted into share

10,401,151

Subsequent Event [Member] | Class A Ordinary Shares [Member] | December 2022 Convertible Debenture [Member]

Subsequent Events (Details) [Line Items]

Make-whole interest amount (in Dollars)

$ 1,100,000

Debt converted into share

70,999,400

Forecast [Member]

Subsequent Events (Details) [Line Items]

Option to purchase (in Dollars)

$ 1,000,000

$ 2,500,000

Net proceeds of issuance of convertible debenture (in Dollars)

940,000

$ 2,365,000

Issuance of convertible debenture (in Dollars)

$ 1,000,000

Net proceeds of common stock (in Dollars)

$ 700,000

Cash consideration (in Dollars)

$ 1,500,000

Gain on sale (in Dollars)

$ 130,000

Forecast [Member] | Series H ADS Purchase Warrant [Member]

Subsequent Events (Details) [Line Items]

Warrant issued

13,158

Per share (in Dollars per share)

$ 1.9

Forecast [Member] | Series E Warrants [Member]

Subsequent Events (Details) [Line Items]

Per share (in Dollars per share)

$ 1.9

Number of warrant exercise

400,000

Forecast [Member] | Series I ADS Purchase Warrant [Member]

Subsequent Events (Details) [Line Items]

Warrant issued

8,850

Per share (in Dollars per share)

$ 1.13

Forecast [Member] | September 2023 Debenture [Member]

Subsequent Events (Details) [Line Items]

Issuance of convertible debenture (in Dollars)

$ 2,500,000

Forecast [Member] | Class A Ordinary Shares [Member]

Subsequent Events (Details) [Line Items]

Issuance of shares

20,000,000

Forecast [Member] | Class A Ordinary Shares [Member] | August 2022 Convertible Debenture [Member]

Subsequent Events (Details) [Line Items]

Make-whole interest amount (in Dollars)

$ 207,000

Debt converted into share

10,401,151

Forecast [Member] | Class A Ordinary Shares [Member] | December 2022 Convertible Debenture [Member]

Subsequent Events (Details) [Line Items]

Make-whole interest amount (in Dollars)

$ 1,100,000

Debt converted into share

70,999,400

Forecast [Member] | Class B ordinary shares [Member]

Subsequent Events (Details) [Line Items]

Ordinary shares, granted

32,000,000

Share vested

14,000,000

Forecast [Member] | Lion Wealth Limited [Member]

Subsequent Events (Details) [Line Items]

Percentage of ownership

100%

2023 Equity Incentive Plan [Member] | Forecast [Member]

Subsequent Events (Details) [Line Items]

Ordinary shares, granted

33,818,770

2023 Annual Meeting [Member]

Subsequent Events (Details) [Line Items]

Share capital (in Dollars)

$ 50,000

Share authorized

500,000,000

Share par value (in Dollars per share)

$ 0.0001

2023 Annual Meeting [Member] | Class A Ordinary Shares [Member]

Subsequent Events (Details) [Line Items]

Common stock comprising shares

40,000,000,000

2023 Annual Meeting [Member] | Class B ordinary shares [Member]

Subsequent Events (Details) [Line Items]

Common stock comprising shares

7,500,000,000