Company: CRCL
Filing Date: 2025-08-12
Form Type: S-1
Source: 0001193125-25-178989
Chunk: 154

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-12
Form: S-1
Chunk 154
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 by $401.0 million, or 62.2%, as of December 31, 2024, compared to December 31, 2023, primarily due to the cash flows generated from net income from continuing operations of $157.0 million, and the net sales of available-for-sale debt securities of $242.2 million during the year ended December 31, 2024. Refer to “—Liquidity and capital resources—Cash flows” below for further discussion on the net cash provided by operating activities, investing activities, and financing activities during the period. Cash and cash equivalents segregated for the benefit of stablecoin holders.Cash and cash equivalents segregated for the benefit of stablecoin holders increased by $19.6 billion, or 80.4%, as of December 31, 2024, compared to December 31, 2023, primarily due to a $19.4 billion increase in USDC in circulation. Refer to “—Liquidity and capital resources—Composition of USDC reserves” below for further discussion of the composition of the reserves. Available-for-sale debt securities, at fair valu e.Available-for-sale debt securities, at fair value decreased by $152.2 million, or 100.0%, as of December 31, 2024, compared to December 31, 2023, primarily due to the sale and maturities of available-for-sale debt securities being redeployed as cash and cash equivalents during the year ended December 31, 2024. As of December 31, 2024, all available-for-sale securities matured and were sold. Accounts receivable, net. Accounts receivable, net increased by $4.5 million, or 230.8%, as of December 31, 2024, compared to December 31, 2023, primarily due to a $4.5 million increase in the accounts receivable related to the integration services. 100

Stablecoins receivable, net. Stablecoins receivable, net decreased by $15.6 million, or 69.2%, as of December 31, 2024, compared to December 31, 2023, primarily due to $16.5 million of repayments of stablecoins lent in 2024.

Prepaid expenses and other current assets.Prepaid expenses and other current assets increased by $40.9 million, or 27.9%, as of December 31, 2024, compared to December