Company: CRCL
Filing Date: 2025-02-13
Form Type: DRS/A
Source: 0000950123-25-001965
Chunk: 151

Company: Circle Internet Group, Inc.
Filing Date: 2025-02-13
Form: DRS/A
Chunk 151
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 and partially offset by an $8.7 billion
decrease in the available-for-sale debt securities segregated for the benefit of stablecoin holders, which was reallocated to cash and cash equivalents segregated for
the benefit of stablecoin holders. 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.Available-for-sale debt securities total by $ million, or
%, as of December 31, 2024, compared to December 31, 2023, . Available-for-sale debt securities total
increased by $240.1 million, or 100.0%, as of December 31, 2023, compared to December 31, 2022, primarily due to $311.6 million in purchases of available-for-sale debt securities, and partially offset by $74.6 million in sale and
maturities of available-for-sale debt securities during the year ended December 31, 2023.

Available-for-saledebt securities segregated for the benefit of stablecoin holders, at fair value.Available-for-sale debt securities segregated for the benefit of stablecoin holders, at fair value decreased by $8.7 billion, or 100.0%, as of December 31,
2023, compared to December 31, 2022, primarily due to the maturities of U.S. Treasury securities being redeployed as cash and cash segregated for the benefit of stablecoin holders during the year ended December 31, 2023 as part of the
transition to the Circle Reserve Fund.

Stablecoins receivable, net. Stablecoins receivable, net, by
$ million, or %, as of December 31, 2024, compared to December 31, 2023, . Stablecoins receivable, net, increased by $6.5 million, or 40.9%, as of
December 31, 2023, compared to December 31, 2022, primarily due to a $6.9 million net increase in stablecoins receivable in connection with Circle stablecoin lending services.

102

CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83

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