Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 150

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 150
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    21,143 |   |     |      |  43,481 |   |     |          |  (22,338 | ) |     |          |  (51.4 | )% |
| Net income (loss) from continuing operations                     |     | $                                  |  (417,309 | ) |     | $    |  81,562 |   |     | $        | (498,871 | ) |     |          | (611.6 | )% |

Revenue and reserve income Reserve income.Reserve income increased by $409.3 million, or 52.3%, for the six months ended June 30, 2025, compared to the six months ended June 30, 2024, of which approximately $628.5 million of the increase is attributable to a 89% increase in average daily USDC in circulation reflecting increased demand for Circle stablecoins related to digital asset trading activity, market share gains as we continue to grow in key markets, as well as expanded strategic partnerships and integrations. This was offset by a decrease of approximately 91

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

$220.1 million which was attributable to a 100 basis point decline in the average yields reflecting interest rate actions undertaken by the U.S. Federal Reserve.

Other revenue increased by $32.2 million, or 263.8%, for the six months ended June 30, 2025, compared to the six months ended June 30, 2024,
primarily due to a $37.3 million increase driven by additional Integration Services performed, fund management fees, and redemption fees related to our Tokenized Funds and Circle stablecoins, offset by a $5.1 million decrease in other fees generated
from other legacy products.

Distribution, transaction and other costs

Distribution and transaction costs. Distribution and transaction costs increased by $304.1 million, or 67.6%, for the six months ended June 30,
2025, compared to the six months ended June 30, 2024, primarily driven by a $192.0 million increase in distribution costs paid to Coinbase as a combined result of increased reserve income and their on-platform balances, along with a $111.1
million increase in other distribution costs related to new strategic distribution partnerships.

Other costs. Other costs decreased by $4.7
million