Company: CRCL
Filing Date: 2025-04-18
Form Type: CORRESP
Source: 0001193125-25-084837
Chunk: 0

Company: Circle Internet Group, Inc.
Filing Date: 2025-04-18
Form: CORRESP
Chunk 0
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| +1 212 450 4000 davispolk.com |     | Davis Polk & Wardwell LLP 450 Lexington 
 Avenue New York, NY 10017               |

April 18, 2025 U.S. Securities and Exchange Commission Division of Corporation Finance 100 F Street, N.E. Washington, D.C. 20549

| Attention: | Sandra Hunter Berkheimer |

David Lin Mark Brunhofer Michelle Miller

| Re: | Circle Internet Group, Inc. |

Registration Statement on Form S-1 Filed April 1, 2025 File No. 333-286310 Ladies and Gentlemen: On behalf of our client, Circle Internet Group, Inc. (the “ Company” or “ Circle”), this letter sets forth the Company’s responses to the comments provided by the staff (the “ Staff”) of the U.S. Securities and Exchange Commission (the “ Commission”), relating to the Company’s Registration Statement on Form S-1 filed on April 1, 2025, contained in the Staff’s letter, dated April 11, 2025 (the “ Comment Letter”). In response to the comments set forth in the Comment Letter, the Company has revised its Registration Statement on Form S-1 and is filing via EDGAR an Amendment No. 1 to the Registration Statement on Form S-1 (the “ Amended Registration Statement”) together with this response letter. The Amended Registration Statement also contains certain additional updates and revisions. For the convenience of the Staff, each comment from the Comment Letter is restated in italics prior to the response to such comment. All references to page numbers and captions (other than those in the Staff’s comments) correspond to pages and captions in the Amended Registration Statement. Registration Statement on Form S-1 Prospectus summary Recent Developments, page 24

Response: The Company has revised the disclosures on page 26 of the Amended Registration Statement to address any apparent trends indicative in the Company’s preliminary results and to explain any variations in significant line items over the results from the prior year period. The Company will provide the full disclosure in a future amendment to the registration statement.

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

Risk factors, page 34

| 2. | In the risk factors at pages 39 – 41 captioned “Absent federal regulations, there is a possibility                                                                                                                                              
 that Circle stablecoins may be classified as ‘securities’…” and “If Circle stablecoins were