Company: CRCL
Filing Date: 2025-08-12
Form Type: S-1
Source: 0001193125-25-178989
Chunk: 409

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-12
Form: S-1
Chunk 409
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| (1) | Represents $1.4million of embedded derivatives in fair value hedging relationships as of December 31, 2023. The hedging relationships were de-designated upon the adoption of ASU 2023-08 on January 1, 2024. |

The following table summarizes notional amounts related to derivatives and embedded derivatives (in thousands):

**Table 10.2. Notional Amounts of Derivative and Embedded Derivative Assets and Liabilities**

|                                                                         |     |   | December 31, 2024 |     |   | December 31, 2023 |
|:------------------------------------------------------------------------|:----|:--|------------------:|:----|:--|------------------:|
| Obligation to return digital asset collateral — embedded derivatives(1) |     | $ |                 — |     | $ |             1,905 |
| Investments — embedded derivatives                                      |     | $ |               791 |     | $ |             1,590 |
| Investments — derivatives                                               |     | $ |               384 |     | $ |             1,244 |

| (1) | Represents $1.9million of notional value associated with embedded derivatives in fair value hedging relationships as of December 31, 2023. The hedging relationships were de-designated upon the adoption of ASU 2023-08 on January 1, 2024. |

Gains (losses) on derivatives and embedded derivatives are as follows (in thousands):

**Table 10.3. Gains (losses) on Derivative and Embedded Derivatives**

|                                                                         |     | Year ended December 31, |  2024 |     |             |   |     |                            |       |     |             |  2023 |     |             |        |   |     |                            |       |   |     |             |    2022 |   |     |             |   |     |                            |         |   |
|:------------------------------------------------------------------------|:----|:------------------------|------:|:----|:------------|:--|:----|:---------------------------|------:|:----|:------------|------:|:----|:------------|:-------|:--|:----|:---------------------------|------:|:--|:----|:------------|--------:|:--|:----|:------------|:--|:----|:---------------------------|