Company: CRCL
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001193125-25-070481
Chunk: 121

Company: Circle Internet Group, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 121
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 all redemption requests;                                                                                                                                  |

| • |     | as a relatively new innovation, stablecoins are particularly susceptible to operational challenges and risks, including due 
 to surges in demand;                                                                                                        |

| • |     | any negative publicity regarding stablecoins or the broader digital asset industry may have an outsized negative effect on 
 consumer confidence;                                                                                                       |

| • |     | the acceptance of Circle stablecoins could be negatively impacted by the disruptions in secondary marketplaces that 
 facilitate the purchase and sale of Circle stablecoins;                                                             |

| • |     | absent federal regulations, there is a possibility that Circle stablecoins may be classified as “securities,” 
 which would subject us to additional regulation and could materially impact the operation of our business;    |

| • |     | we hold a substantial amount of USDC reserves in the Circle Reserve Fund and thus are subject to risks associated with the 
 issuer, the manager, and the custodian of the Circle Reserve Fund;                                                         |

| • |     | any significant disruption in our or our third-party service providers’ or partners’ technology could result in a        
 loss of customers or funds and adversely impact our business, results of operations, financial condition, and prospects; |

| • |     | our customers’ funds and digital assets may fail to be adequately safeguarded by us or the third-party service 
 providers upon whom we rely;                                                                                   |

| • |     | our inability to maintain existing relationships with financial institutions and similar firms or to enter into new such 
 relationships could impact our ability to offer services to customers;                                                   |

| • |     | we are subject to credit risks in respect of counterparties, including banks and other financial institutions; |

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| • |     | if we are unable to maintain existing distribution arrangements or enter into additional distribution arrangements on less 
 favorable financial terms, USDC and EURC in circulation and Circle’s financial results may be adversely affected;          |

| • |     | our products and services may be exploited by our customers, employees, service providers, and other third parties to 
 facilitate illegal activity such as fraud, money laundering, terrorist financing, gambling, tax evasion, and scams;   |

| • |     | our compliance and risk management methods might not be effective; |

| • |     | fluctuations in interest rates could impact our results of operations; |

| • |     | we are subject to an extensive and highly evolving regulatory landscape; |

| • |     | the regulatory environment to which we are subject gives rise to