Company: CRCL
Filing Date: 2025-02-13
Form Type: DRS/A
Source: 0000950123-25-001965
Chunk: 297

Company: Circle Internet Group, Inc.
Filing Date: 2025-02-13
Form: DRS/A
Chunk 297
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our”). Circle is a global financial technology firm that operates financial infrastructure built on top of public blockchains and is
the sole issuer of a U.S. dollar-denominated stablecoin, USDC and a euro-denominated stablecoin, EURC, collectively “Circle stablecoins”.

Circle provides
a widely used stablecoin network and associated infrastructure. Our network and infrastructure can be used to facilitate comprehensive commercial financial solutions spanning across various transactional, treasury and Web3 related use-cases. The Company’s infrastructure provides the ability for customers to issue and redeem Circle stablecoins on demand and acts as a critical bridge between the existing financial services and digital
asset ecosystems.

Liquidity

Accounting principles
generally accepted in the United States of America (“U.S. GAAP”) require that the Company evaluate at each reporting period its ability to continue as a going concern.

The Company has access to sufficient liquidity in the form of cash, cash equivalents, available-for-sale debt securities and Circle stablecoins the Company holds (which
are readily redeemable to cash on demand) which is sufficient to meet the Company’s cash needs and support our operations for at least the next twelve months from the date the financial statements are available to be issued.

2. Summary of significant accounting policies

Basis of presentation and principles of consolidation

The Company prepares its consolidated financial statements in conformity with U.S. GAAP and in
accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”). References to the Accounting Standard Codification (“ASC”) and Accounting Standard Updates (“ASU”) included
hereinafter refer to the Accounting Standards Codification and Updates issued by the Financial Accounting Standards Board (“FASB”) as the source of authoritative U.S. GAAP. The consolidated financial statements include the accounts of
Circle Internet Financial Limited and its subsidiaries. The Company consolidates entities in which it has a controlling financial interest, including variable interest entities (“VIEs”). The Company’s investments in VIEs have not been
material to the consolidated financial statements. All intercompany balances and transactions have been eliminated on consolidation.

Use of estimates

The preparation of consolidated financial statements requires management to make estimates and assumptions that affect the amounts reported in the
consolidated financial statements and disclosures in the accompanying notes.

F-10

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

Significant estimates that are particularly susceptible to significant change relate