Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 181

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 181
---
19,449.9 million for the year ended December 31, 2024, compared with net cash used in financing activities of $20,329.9 million for the year ended December 31, 2023, primarily reflecting a $19,452.1 million increase in net changes in deposits held for stablecoin holders primarily due to the increase in USDC in circulation for the year ended December 31, 2024, and a $20,322.2 million decrease in net changes in deposits held for stablecoin holders primarily due to the decrease in USDC in circulation for the year ended December 31, 2023. Net cash used in financing activities was $20,329.9 million for the year ended December 31, 2023, compared with net cash provided by financing activities of $2,578.2 million for the year ended December 31, 2022, 111

CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83 primarily reflecting a $20,322.2 million decrease in net changes in deposits held for stablecoin holders primarily due to the decrease in USDC in circulation for the year ended December 31, 2023, and a $2,176.8 million of receipts from deposits held for stablecoin holders and $401.0 million of proceeds from the issuance of shares of Series F redeemable convertible preferred stock for the year ended December 31, 2022. 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 believe to be reasonable under the circumstances. Actual results could differ significantly from our estimates. To the extent that there are differences between our estimates and actual results, our future financial statement presentation, financial condition, operating results, and cash flows will be affected. We believe that the accounting policies described below involve a significant degree of judgment and complexity. Accordingly, we believe these are the most critical to aid in fully understanding and evaluating our consolidated financial condition and results of operations. For more information, see the notes to our consolidated financial statements included elsewhere in this prospectus. Stock-based compensation including valuation of common stock We account for share-based awards