Company: CRCL
Filing Date: 2025-04-18
Form Type: S-1/A
Source: 0001193125-25-084832
Chunk: 151

Company: Circle Internet Group, Inc.
Filing Date: 2025-04-18
Form: S-1/A
Chunk 151
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 securities decreased by $87.9 million, or 100.0%, as of December 31, 2024,
compared to December 31, 2023, primarily due to the sale and maturities of available-for-sale debt securities being redeployed as cash and cash equivalents during the year ended December 31, 2024. As of December 31, 2024, all available-for-sale
securities matured and were sold.

Investments. Investments increased by $8.2 million, or 10.9%, as of December 31, 2024 compared to
December 31, 2023, primarily due to $8.6 million in gains on strategic investments for the year ended December 31, 2024.

Fixed assets.
Fixed assets increased by $16.1 million as of December 31, 2024 compared to December 31, 2023, primarily due to a $16.2 million increase in the construction-in-progress related to corporate office space.

Digital assets. Digital assets increased by $20.0 million, or 176.3%, as of December 31, 2024 compared to December 31, 2023, primarily due to the
recognition of $10.9 million gains (losses), net on digital assets, $12.3 million of additional digital assets, and $6.9 million in fair value adjustments on digital assets upon adoption of ASU 2023-08 on January 1, 2024, partially offset by $10.1
million disposal of digital assets.

Deferred tax assets, net. Deferred tax assets, net increased by $10.2 million, or 100.0%, as of
December 31, 2024 compared to December 31, 2023, primarily due to the valuation allowance release against the net operating loss deferred tax assets of foreign entities due to their respective projected profitability.

Other non-current assets. Other non-current assets increased by $16.2 million, or 368.5%, as of December 31, 2024 compared to December 31,
2023, primarily due to the recognition of $15.2 million operating leases right-of-use assets related to corporate office space.

Current liabilities

Accounts payable and accrued expenses.Accounts payable and accrued expenses increased by $134.4 million, or 88.1%, as of December 31,
2024 compared to December 31, 2023, primarily due to a $