Company: CRCL
Filing Date: 2025-02-13
Form Type: DRS/A
Source: 0000950123-25-001965
Chunk: 165

Company: Circle Internet Group, Inc.
Filing Date: 2025-02-13
Form: DRS/A
Chunk 165
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7 million increase in reserve income attributable to increased average yields, partially offset by a corresponding $787.7 million increase in distribution and transaction costs due to the increase in reserve income. Investing activities Net cash provided by investing activities was $ billion for the year ended December 31, 2024 compared to net cash provided by investing activities of $8.5 billion for the year ended December 31, 2023, . Net cash provided by investing activities was $8.5 billion for the year ended December 31, 2023 compared to net cash used in investing activities of $8.5 billion for the year ended December 31, 2022, driven primarily by an $8.7 billion increase in cash and cash segregated for the benefit of stablecoin holders due to maturities of U.S. Treasury securities in the year ended December 31, 2023 and an $8.4 billion net decrease in cash and cash segregated for the benefit of stablecoin holders related to investing activities in available-for-salesecurities for the year ended December 31, 2022. Financing activities Net cash used in financing activities was $ million for the year ended December 31, 2024, . Net cash used in financing activities was $20,329.9 million for the year ended December 31, 2023, primarily reflecting $20,322.2 million of decrease in net changes in deposits held for stablecoin holders primarily due to the decrease in USDC in circulation. Net cash provided by financing activities was $2,578.2 million for the year ended December 31, 2022, primarily reflecting $2,176.8 million of receipts from net changes in deposits held for stablecoin holders and $401.0 million of proceeds from the issuance of shares of Series F redeemable convertible preferred stock. Discontinued operations See Note 3 to our consolidated financial statements included elsewhere in this prospectus for the cash flows attributable to the discontinued operations for the pertinent periods. 111

CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83 Critical accounting estimates Our consolidated financial statements and the related notes included elsewhere in this prospectus are prepared in accordance with GAAP. The preparation of consolidated financial statements also requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, costs, and expenses and related disclosures. We base our estimates on historical experience and on various other assumptions that we