Company: CRCL
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001193125-25-070481
Chunk: 42

Company: Circle Internet Group, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 42
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 information gives effect to the Conversion. |

| (2) |     | The pro forma as adjusted information gives effect to the pro forma adjustments in footnote (1) above and to (i) this offering, including our issuance and sale of      shares of Class A                                         
 common stock at the assumed initial public offering price of $     per share, which is the midpoint of the price range set forth on the cover page of this prospectus, and after deducting underwriting discounts and commissions 
 and estimated offering expenses payable by us, and (ii) the IPO RSU Vest, including our payment of $     in satisfaction of tax withholding and remittance obligations and the issuance of      shares of                         
 Class A common stock and      shares of Class B common stock in connection with the net settlement of such RSUs. This information is illustrative only and will change based on the actual initial public offering price and      
 other terms of this offering determined at pricing.                                                                                                                                                                               |

33

Risk factors

Investing in our Class A common stock involves a high degree of risk. You should carefully consider the risks and uncertainties described below together with all of the other information contained in this prospectus, including our consolidated financial statements and the notes thereto, before deciding to invest in our Class A common stock. The risks and uncertainties described below are not the only ones we face. Additional risks and uncertainties not presently known to us or that we currently believe to be immaterial may also adversely affect our business. If any of the following risks actually occurs, our business, results of operations, financial condition, and prospects would likely suffer. In such case, the trading price of our Class A common stock could decline, and you may lose all or part of your investment.

Risks related to our business and industry

We face intense and increasing competition.

We operate in a rapidly changing and highly competitive industry, and our results of operations and future prospects depend in part
on the continued growth of the Circle stablecoin network, our ability to monetize the Circle stablecoin network, and our ability to innovate and create successful new products and services and improve existing products and services.

Although there may be certain regulatory and other barriers to enter the markets we serve, we nonetheless expect our competition to continue to increase. We face
competition from both established enterprises and early-stage companies that are attempting to capitalize on the same,