Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 383

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 383
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 and as such, Circle stablecoin holders could transact with Circle Mint customers, ultimately allowing the
Circle stablecoins to be redeemed. Deposits from stablecoin holders do not include amounts associated with corporate-held stablecoins. Cash associated with such corporate-held stablecoins are presented as Cash and cash equivalents segregated for
corporate-held stablecoins on the Consolidated Balance Sheets. When the Company makes payments in the form of corporate-held stablecoins, the Company records an associated Deposits from stablecoin holders and records the cash associated with
such stablecoins as Cash and cash equivalents segregated for corporate-held stablecoins. When such payments, in the form of corporate-held stablecoins, are for distribution, transaction and other costs or operating expenses incurred, the
payments are presented in the consolidated statements of cash flows in the same manner as if such payments were settled in cash.

As of December 31,
2024 and December 31, 2023, the Company’s eligible liquid assets, which consist of cash and cash equivalents, were greater than the aggregate amount of custodial funds due to stablecoin holders.

Derivative Contracts, including Embedded Derivatives

Derivative instruments are financial instruments or other contracts that derive their value from one or more underlying variables. Derivative contracts are
recognized as either assets or liabilities on the Consolidated Balance Sheets at fair value, with changes in fair value recognized in Other income (expense), net or Digital assets (gains) losses and impairmentin the Consolidated
Statements of Operations.

The Company has entered into certain contracts resulting in the right to receive or obligation to deliver certain digital
assets in the future. These contracts are accounted for as derivatives in their entirety or as hybrid instruments containing a debt-like host contract and an embedded derivative that is bifurcated from the host contract. The derivative or embedded
derivative is subsequently measured at fair value.

Intangible Assets, net

Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives. The Company’s finite-lived intangible
assets are reviewed for impairment at least annually, or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, and intangibles are also evaluated periodically to determine their remaining useful lives.

F-45

CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83 Internally developed software Internally developed software represents direct costs incurred to develop software for internal use and are capitalized and amort