Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 160

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 160
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 excess over redemption and customer obligations. We are not required by law or internal policy to maintain any such excess. 97

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

Current assets

Cash and cash equivalents (including cash and cash equivalents segregated for corporate-held stablecoins).Cash and cash equivalents (including cash and
cash equivalents segregated for corporate-held stablecoins) increased by $660.9 million, or 63.2%, as of June 30, 2025, compared to December 31, 2024, primarily due to $572.6 million cash proceeds from issuance of common stock in
connection with the IPO, net of underwriting discounts and commissions and offering costs during the six months ended June 30, 2025. Refer to “—Liquidity and Capital Resources—Cash Flows” below for further discussion on the net
cash provided by operating activities, investing activities and financing activities during the period.

Cash and cash equivalents segregated for the benefit of stablecoin holders. Cash and cash equivalents segregated for the benefit of stablecoin holders increased by $17.4 billion, or 39.7%, as of June 30, 2025, compared to December 31, 2024, primarily due to $17.5 billion increase in
USDC in circulation. Refer to “—Liquidity and Capital Resources—Composition of USDC reserves” below for further discussion of the composition of the reserves.

Accounts receivable, net.Accounts receivable, net increased by $6.8 million, or 105.9%, as of June 30, 2025, compared to December 31, 2024,
primarily due to a $7.8 million increase in the accounts receivable related to the subscription and services.

Stablecoins receivable, net.
Stablecoins receivable, net decreased by $7.0 million, or 100.0%, as of June 30, 2025, compared to December 31, 2024, due to a $7.0 million repayment of stablecoins.

Prepaid expenses and other current assets. Prepaid expenses and other current assets increased by $29.1 million, or 15.5%, as of June 30, 2025,
compared to December 31, 2024, primarily due to a $49.0 million increase in the reserve income receivable