Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 248

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 248
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 EURC, respectively, are property of our bankruptcy estate. If this were to happen, other
creditors of Circle may be able to obtain recoveries from the underlying reserve assets and holders of Circle stablecoins could be treated as general unsecured creditors of Circle, which could result in Circle stablecoin holders receiving only
partial recoveries rather than the full purported value of their stablecoin holdings.

In addition, following the passage of the GENIUS Act, we are
exploring ways to further enhance protections and provide certainty for USDC holders in the unlikely event of insolvency. To that end, on June 30, 2025, we submitted to the OCC an application on behalf of our proposed subsidiary, FNDCB, to form
FNDCB as a national trust bank. If approved, FNDCB will operate as a federally regulated trust institution, subject to OCC oversight, and will oversee the management of the USDC reserve according to our reserve management policy as an administrative
agent. FNDCB will hold a first-priority perfected security interest in the USDC reserve as collateral trustee for the benefit of USDC holders, and protect the interests of USDC holders in the event of insolvency. See “Business—Reserve
management standard” for information regarding our standards for managing Circle stablecoin reserves.

We will continue to monitor legal, regulatory,
and other developments in order to take reasonable and appropriate steps to continue the safeguarding of Circle stablecoin reserves.

Intellectual property

The protection of our technology and intellectual property is an important aspect of our business. We rely upon a combination of trademark,
patent, trade secret, and copyright laws in the United States and similar laws in other countries, as well as confidentiality procedures, contractual commitments, and other legal rights to establish, maintain, and protect our intellectual property
and proprietary rights. We have an active program of establishing, maintaining, and protecting our intellectual property and proprietary rights, including our proprietary technology, through the filing of patents, registration of trademarks, and use
of contractual measures and other intellectual property rights. We generally enter into agreements with our employees, consultants, contractors, and other third parties that include confidentiality and nondisclosure provisions in order to limit
access to, and disclosure and use of, our confidential information, trade secrets, know-how, and proprietary technology. Those agreements also often include invention or work product assignment provisions to establish, maintain, and protect our
brand and other intellectual property rights. We may also agree to license our intellectual property to third parties