Company: CRCL
Filing Date: 2025-08-12
Form Type: S-1
Source: 0001193125-25-178989
Chunk: 436

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-12
Form: S-1
Chunk 436
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|:----|:--|------------------:|
| Stablecoin redemptions in transit           |     | $ |           118,074 |     | $ |            10,700 |
| Accrued distribution costs                  |     |   |            83,318 |     |   |            57,278 |
| Accrued expenses                            |     |   |            70,314 |     |   |            50,015 |
| Income taxes payable                        |     |   |               678 |     |   |            27,162 |
| Accrued interest                            |     |   |               514 |     |   |               740 |
| Other payables                              |     |   |            14,109 |     |   |             6,691 |
| Total accounts payable and accrued expenses |     | $ |           287,007 |     | $ |           152,586 |

23. Commitments and contingencies Legal matters The Company is subject to various litigation, regulatory investigations, and other legal proceedings that arise in the ordinary course of its business. The Company is also subject to regulatory oversight by numerous regulatory and other governmental agencies. The Company reviews its lawsuits, regulatory investigations, and other legal proceedings on an ongoing basis and provides disclosure and records loss contingencies for such matters when potential losses become probable and can be reasonably estimated. If the Company determines that a loss is reasonably possible and the loss or range of loss can be estimated, the Company discloses the possible loss in the consolidated financial statements. In February 2018, one of our indirect wholly-owned subsidiaries acquired Poloniex, LLC (“Poloniex”), which owned and operated the Poloniex digital asset trading platform. In April 2018, the Office of Foreign Assets Control of the U.S. Department of the Treasury (“OFAC”) served Poloniex with an administrative subpoena and a second administrative subpoena in September 2019 requesting documents and information regarding accounts opened and/or closed on the Poloniex digital asset trading platform by persons potentially located in Iran, Cuba, Syria, North Korea, Crimea, and Sudan. In April 2023, Poloniex executed a settlement agreement with OFAC regarding its investigation and paid OFAC a settlement fee of $ 7.6 million in May 2023. The Company is in a dispute with a financial advisor regarding advisory fees related to engagement letters between the parties. In 2022, the Company’s Board of Directors passed resolutions terminating