Company: CRCL
Filing Date: 2025-02-13
Form Type: DRSLTR
Source: 0000950123-25-001969
Chunk: 2

Company: Circle Internet Group, Inc.
Filing Date: 2025-02-13
Form: DRSLTR
Chunk 2
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 Statement (without taking into account any assets segregated for the benefit of stablecoin holders). As a result, the Company concluded that the FT Partners litigation is not material and disclosure is not required under Item 103 of Regulation S-K. Although the Company does not currently believe that the FT Partners lawsuit is a material pending legal proceeding required to be disclosed pursuant to Item 103 of Regulation S-K,in the interest of providing additional transparency to potential investors, the Company has revised the disclosure on page 48 of the Amended Draft Registration Statement to provide the name of the federal court where the matter is currently pending and the amount of proceeds the Company received in the transactions specified in FT Partners’ lawsuit. The Company respectfully advises the Staff that FT Partners’ complaint does not include an exact amount of damages sought; therefore, the Company has instead disclosed the fee arrangement under the engagement letters subject to the lawsuit and the amount of proceeds received by the Company in the relevant transactions. Management’s discussion and analysis of financial condition and results of operations Collaboration Agreement with Coinbase and the Centre Acquisition, page 90

| 4. | We note that in August 2023, in connection with your entry into the Collaboration Agreement, you acquired                                                                                                                                       
 the remaining outstanding 50% equity interest in Centre Consortium LLC from Coinbase. Please supplementally provide us with any agreement related to your acquisition of such equity interests, including any exhibits and attachments thereto. |

Response: The Company has supplementally provided the requested documents to the Staff. 2

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

| Division of Corporation Finance         
 U.S. Securities and Exchange Commission |

Business Reserve management standard, page 131

| 5. | We note your added disclosure that your reserve management standard limits the types of assets that may be                                                                                            
 included in EURC reserves to certain assets, including “(i) cash deposits at global banks, (ii) tri-party reverse repurchase agreements on an overnight basis fully collateralized by eligible assets 
 with requisite margins....” Please revise your disclosure in the above-referenced romanette (ii) to clarify the nature of the “eligible assets with requisite margins” that you reference.            |

Response: The Company has revised the disclosure on page 135 of the Amended Draft Registration Statement to clarify the types of assets that may be included in the Company’s EURC reserves. The Company advises the Staff that all EURC reserves are currently