Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 75

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 75
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 judgments, fines, or penalties; |

| • |     | substantial outside counsel legal fees and costs; |

| • |     | additional compliance and licensure requirements; |

| • |     | loss or nonrenewal of existing licenses or authorizations, or prohibition from or delays in obtaining additional 
 licenses or authorizations, required for our business;                                                           |

| • |     | loss of productivity and high demands on employee time; |

| • |     | civil or criminal sanctions or consent decrees; |

| • |     | termination of certain employees, including members of our executive team; |

| • |     | barring of certain employees from participating in our business in whole or in part; |

| • |     | orders that restrict our business or prevent us from offering certain products or services; |

| • |     | changes to our business model and practices; |

| • |     | delays to planned transactions, product launches, and improvements; and |

| • |     | damage to our brand and reputation. |

Because of our large end-user base, actions against us may claim large monetary damages. Regardless of the outcome, any such matters can have an adverse impact, which may be material, on our business, results of operations, financial condition, and prospects because of legal costs, diversion of management resources, reputational damage, and other factors. Risks related to our financial condition Fluctuations in interest rates could impact our results of operations. Our results of operations are exposed to changes in interest rates, among other macroeconomic conditions. Interest rate risk is highly sensitive to many factors, including governmental monetary and tax policies, domestic and international economic and political considerations, and other factors beyond our control. For the years ended December 31, 2024, 2023, and 2022, our reserve income earned from the management of Circle stablecoin-related reserves represented 99.1%, 98.6%, and 95.3% of our total revenue from continuing operations, respectively. For the six months ended June 30, 2025 and 2024, our reserve income earned from the management of Circle stablecoin-related reserves represented 96.4% and 98.4% of our total revenue from continuing operations, respectively. Fluctuations in interest rates impact reserve return rates, such that a decrease in interest rates reduces reserve return rates and an increase in interest rates increases reserve return rates. Reserve return rate is a contributing factor to reserve income, which in turn is a contributor to distribution