Company: CRCL
Filing Date: 2025-05-16
Form Type: S-1/A
Source: 0001193125-25-121234
Chunk: 164

Company: Circle Internet Group, Inc.
Filing Date: 2025-05-16
Form: S-1/A
Chunk 164
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%, 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.

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 31, 2023, primarily due to a $37.7 million increase in the reserve income receivable and a $14.3 million increase in digital financial assets, partially offset by a $17.1 million decrease in income tax receivable.

Non-currentassets

Available-for-sale debt securities, at fair value. Available-for-sale debt securities decreased by $87.9 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.

Investments. Investments increased by $8.2 million, or 10.9%, as of December 31, 2024 compared to
December 31, 2023, primarily due to $8.6 million in gains on strategic investments for the year ended December 31, 2024.

Fixed assets. Fixed
assets increased by $16.1 million as of December 31, 2024 compared to December 31, 2023, primarily due to a $16.2 million increase in the construction-in-progress related to corporate office space.

Digital assets. Digital assets increased by $20.0 million, or 176.3%, as of December 31, 2024 compared to December 31, 2023, primarily due to the
recognition of $10.9 million gains (losses), net on digital assets, $12.3 million of additional digital assets, and $6.9 million in