Company: CRCL
Filing Date: 2025-06-02
Form Type: S-1/A
Source: 0001193125-25-132755
Chunk: 347

Company: Circle Internet Group, Inc.
Filing Date: 2025-06-02
Form: S-1/A
Chunk 347
---
 - derivatives                                                                |     | $ |            353 |     | $ |               384 |
| Accounts receivable, net - embedded derivatives                                          |     | $ |          3,000 |     | $ |                 — |

F-17

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

| Table 9.3. Gains (losses) on Derivative and Embedded Derivatives         |     | Three months    
 ended March 31, 
 2025            |        |   |     | 2024 |       |
|:-------------------------------------------------------------------------|:----|:----------------|:-------|:--|:----|:-----|------:|
| Obligation to return digital asset collateral — embedded derivatives (1) |     | $               | —      |   |     | $    | 1,629 |
| Accounts receivable, net — embedded derivatives                          
 (2)                                                                      |     | $               | (976   | ) |     | $    |     — |
| Investments — derivatives and embedded derivatives (2)                   |     | $               | (5,340 | ) |     | $    | 3,070 |

| (1) |     | Included in Digital assets losses (gains) in the unaudited Condensed Consolidated Statements of Operations. |

| (2) |     | Included in Other (expense) income, net in the unaudited Condensed Consolidated Statements of Operations. |

10. Fair value measurements Recurring fair value measurements The following table sets forth by level, within the fair value hierarchy, the Company’s assets and liabilities measured and recorded at fair value on a recurring basis. The carrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivable, stablecoin receivables, prepaid expenses and other current assets, and accounts payable and accrued expenses approximate their fair values due to their short-term nature.

| Table 10.1. Fair Value Hierarchy                   | (in thousands) |   | March 31, 2025 |     |         |   |       |   |         |   |        |     |         |   | December 31, 2024 |     |         |   |       |     |         |   |        |
|:---------------------------------------------------|:---------------|:--|---------------:|:----|:--------|:--|------:|:--|:--------|:--|-------:|: