Company: CRCL
Filing Date: 2025-08-12
Form Type: S-1
Source: 0001193125-25-178989
Chunk: 410

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-12
Form: S-1
Chunk 410
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) losses and impairmentin the Consolidated Statements of Operations. The hedging relationships were de-designated upon the adoption of ASU 2023-08 on January 1, 2024. |

<div align='center'>F-6 2</div>

| (2) | Included inOther income (expense), netin the Consolidated Statements of Operations. |

**For embedded derivatives designated as qualifying fair value hedges, the gain or loss on the embedded derivative and the offsetting gain or loss on the hedged item attributable to the hedged risk are recognized in Digital assets (gains) losses and impairmentin the Consolidated Statements of Operations. The carrying value of the hedged item is included in Digital assets on the Consolidated Balance Sheets. The carrying values and associated cumulative basis adjustments for fair value hedges are as follows (in thousands):

Table 10.4. Details of Hedged Item**

| Hedged item       |     | Carrying Value of the Hedged Item 
 December 31, 2024                 |   |     | December 31, 2023 |       |     | Cumulative Fair Value HedgingAdjustments Included in the CarryingValue 
 December 31, 2024                                                      |   |     | December 31, 2023 |       |
|:------------------|:----|:----------------------------------|:--|:----|:------------------|------:|:----|:-----------------------------------------------------------------------|:--|:----|:------------------|------:|
| Digital assets(1) |     | $                                 | — |     | $                 | 3,297 |     | $                                                                      | — |     | $                 | 9,031 |

| (1) | The hedging relationships were de-designated upon the adoption of ASU 2023-08 on January 1, 2024 |

**11. Fair value measurements**

**Recurring fair value measurements**

The following table sets forth by level, within the fair value hierarchy, the Company’s assets and liabilities measured and recorded at fair value on a recurring basis. The carrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivable, stablecoin receivables, prepaid expenses and other current assets, and accounts payable and accrued expenses approximate their fair values due to their short-term nature.

**Table 11.1. Fair Value Hierarchy**

|                                                                            | (in thousands) |   | December 31, 2024 |     |         |