Company: CRCL
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001193125-25-126208
Chunk: 169

Company: Circle Internet Group, Inc.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 169
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 operating and financial indicators,” excludes access denied tokens and tokens allowed but not issued (for which we do not receive fiat funds)), the outstanding balance, and the average yield for the

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periods indicated. We use USDC in circulation in the table presented below to align with our presentation in “—Key operating and financial indicators” and because reserves backing access denied tokens do not represent a material portion of USDC reserves. The amounts below differ from assets (cash and cash equivalents and available-for-sale securities) segregated for the benefit of stablecoin holders, as these line items on our balance sheet include reserve assets backing access denied tokens and reserve assets backing EURC (which is held only in cash at banks and not material for the periods presented) and excludes the amount of reserve assets backing corporate-held USDC. In addition, the amounts differ due to timing and settlement differences, such as reserve income earned but not yet transferred to corporate cash and timing differences of cash receipts and payments related to the minting and redemption process.

| (in millions, except                  
 for percentages)                      |     | 2025       | Three months ended March 31, |     |         |       |     | 2024       |        |     |         |       |     | 2024       | Year ended December 31, |     |         |       |     | 2023       |        |     |         |       |     | 2022       |        |     |         |       |
|:--------------------------------------|:----|:-----------|-----------------------------:|:----|:--------|:------|:----|:-----------|-------:|:----|:--------|:------|:----|:-----------|------------------------:|:----|:--------|:------|:----|:-----------|-------:|:----|:--------|:------|:----|:-----------|-------:|:----|:--------|:------|
| Asset Class                           |     | Fair Value |                              |     | Average 
 Yield   |       |     | Fair Value |        |     | Average 
 Yield   |       |     | Fair Value |                         |     | Average 
 Yield   |       |     | Fair Value |        |     | Average 
 Yield   |       |     | Fair Value |        |     | Average 
 Yield   |       |
| Cash                                  |     | $          |                        6,487 |     |         | 3.42% |     | $