Company: CRCL
Filing Date: 2025-04-01
Form Type: CORRESP
Source: 0000950103-25-004232
Chunk: 0

Company: Circle Internet Group, Inc.
Filing Date: 2025-04-01
Form: CORRESP
Chunk 0
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 212 450 4000  
 davispolk.com | Davis                
 Polk & Wardwell LLP  
 450 Lexington Avenue 
 New York, NY 10017   |

April 1, 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.                                 
 Amendment No. 4 to Draft Registration Statement on Form S-1 
 CIK No. 0001876042                                          |

Ladies and Gentlemen:

On behalf of our client, Circle Internet Group, Inc. (the “”
or “”), this letter sets forth the Company’s responses to the comments provided by the staff (the “”)
of the U.S. Securities and Exchange Commission (the “”), relating to the Company’s Draft Registration
Statement on Form S-1 submitted on February 13, 2025, contained in the Staff’s letter, dated February 27, 2025 (the “”). In response to the comments set forth in the Comment Letter, the Company has revised its Registration Statement on
Form S-1 and is publicly filing via EDGAR an amended Registration Statement on Form S-1 (the “”)
together with this response letter. The 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 Registration Statement.

| 1. | We note your response to prior comment 7. We also note your disclosure on page 91 that you "routinely use USDC for transactions              
 and thus corporate-held USDC contributes to the Circle stablecoin ecosystem's breadth" and your disclosure on page F-16 regarding            
 your accounting for the use of corporate-held stablecoins to make payments for goods and services. Please revise your disclosure here,       
 or where you deem appropriate, to clarify how you present the use of corporate-held USDC to pay operating expenses in your statements        
 of cash flows consistent with your response to prior comment 7 and its predecessors. In addition, clarify the impact of using corporate-held 
 USDC on your liquidity.                                                                                                                      |

Response: The