Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 352

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 352
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 in limited partnerships and certain forward contracts to purchase a specified quantity of equity shares in private companies are presented below (in thousands):

| Table 8.1. Changes in the Carrying Value of Equity      
 Investments under Measurement Alternative               |     |   |        |   |
|:--------------------------------------------------------|:----|:--|-------:|:--|
| Balance as of December 31, 2024                         |     | $ | 68,229 |   |
| Net investments and returns in privately held companies |     |   |  9,674 |   |
| Upward adjustments                                      |     |   |  1,511 |   |
| Downward adjustments                                    |     |   | (3,156 | ) |
| Realized gains (losses) and impairments                 |     |   |   (217 | ) |
| Balance as of June 30, 2025 (1)                         |     | $ | 76,041 |   |

| (1) | Excludes $7.8 million of strategic investments not accounted for under the measurement alternative as of June 
 30, 2025.                                                                                                     |

F-17

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

| Balance as of December 31, 2023                         |     | $ | 66,008 |   |
| Net investments and returns in privately held companies |     |   |  1,273 |   |
| Upward adjustments                                      |     |   |  4,142 |   |
| Downward adjustments                                    |     |   |   (233 | ) |
| Realized gains (losses) and impairments                 |     |   |   (368 | ) |
| Balance as of June 30, 2024 (1)                         |     | $ | 70,822 |   |

| (1) | Excludes $9.0 million of strategic investments not accounted for under the measurement alternative as of June 
 30, 2024.                                                                                                     |

| 9. | Derivatives and embedded derivatives |

The Company enters into certain strategic investments in the form of forward contracts to purchase a specified quantity of digital assets. Certain of these contracts are accounted for as derivatives or investments with embedded derivatives, and accounts for these derivatives and embedded derivatives within Investmentson the unaudited Condensed Consolidated Balance Sheets