Circle Internet Group Inc. SEC Filings

Jeremy Allaire reports beneficial ownership of 18,494,820 shares of Circle Internet Group on an as-converted basis, representing 8.1399% of the Class A common stock. The filing breaks this total down into 16,457,013 Class B shares held directly, 335,684 Class B shares held by the Allaire 2025 Qualified Annuity Trust, 11,164 Class B shares issuable upon vesting of Restricted Stock Units and 1,422,411 Class B shares issuable upon exercise of options. The reporting person has sole voting and dispositive power over 18,226,272 shares and shared voting/dispositive power over 268,548 shares.

The percentage is calculated using 227,211,067 Class A shares outstanding as of June 30, 2025 and assumes one-for-one conversion of Class B into Class A. The filing also notes that Class B shares convert automatically to Class A upon most transfers, subject to limited permitted-transfer exceptions.

Schedule 13G filing for Circle Internet Group (Class A) shows that James Breyer and affiliated entities report substantial, disclosed holdings of the company’s Class A common stock. Breyer directly and indirectly is connected to three reporting entities: James Breyer, Breyer Capital L.L.C., and The James W. Breyer 2005 Trust. The filing lists specific share counts held by each reporting person and the aggregate positions reported.

The filing reports that Breyer Capital L.L.C. directly holds 12,997,328 shares and that the aggregate holdings reported for James Breyer equal 13,360,862 shares, representing 6.4% of the Class A shares on a base of 207,650,578 shares outstanding as stated in the issuer’s prospectus. The filing includes explicit disclaimers about beneficial ownership and states the calculation basis for the percentage figure.

Oak Investment Partners XIII, Oak Associates XIII, Oak Management and several individual managing members report beneficial ownership of 11,880,678 shares of Circle Internet Group Class A common stock, representing 5.7% of the Class A shares outstanding as stated in the filing. Oak Investment Partners XIII is reported to have sole voting and dispositive power over those shares while Oak Management and certain affiliated entities and individuals are reported with shared voting and dispositive power. The filing notes these persons acknowledge they may be deemed a "group" for securities-law purposes but each disclaims being part of a group beyond the ownership reported. The percent calculation is based on 207,650,578 Class A shares stated in the issuer's prospectus.

Circle Internet Group, Inc. Schedule 13G filed by multiple Accel entities discloses beneficial ownership of Class A common stock (CUSIP 172573107) following the issuer's IPO. The filing shows specific holdings for each reporting person: Accel XI L.P. (A11) owns 9,071,246 shares (4.4%); Accel XI Strategic Partners L.P. (A11SP) owns 681,548 shares (0.3%); Accel XI Associates L.L.C. (A11A) reports 9,752,794 shares (4.7%); Accel Investors (2013) L.L.C. (AI13) reports 963,385 shares (0.5%); Accel XIV L.P. (A14) reports 191,365 shares (0.1%); Accel XIV Strategic Partners L.P. (A14SP) reports 7,766 shares (0.0%); Accel XIV Associates L.L.C. (A14A) reports 199,131 shares (0.1%); and Accel XIV Investors (2019) L.L.C. (AI19) reports 10,215 shares (0.0%). Percentages are calculated using 207,650,578 shares outstanding after the IPO, per the issuer's prospectus. The filing also states that A11A and A14A, as general partners, may be deemed to have sole voting and dispositive power over the shares they are associated with. The filing lists the issuer's principal office as One World Trade Center, New York, and Accel's principal office as 500 University Avenue, Palo Alto.

Circle Internet Group, Inc. (CRCL) is registering 10,000,000 shares of Class A common stock, of which 2,000,000 are being offered by the company and 8,000,000 by selling stockholders; the prospectus notes a recent NYSE last reported sale price of $159.03. The company presents a large, developer- and partner-driven stablecoin platform anchored by USDC and EURC, with USDC at $61 billion in circulation and 5.7 million meaningful wallets as of June 30, 2025.

Circle reports 2024 revenue of $1.7 billion, net income of $155.7 million, and Adjusted EBITDA of $284.9 million; for the first half of 2025 it reports revenue of $1.2 billion, a net loss of $(417.3) million, and Adjusted EBITDA of $248.3 million. Network activity cited includes $31 trillion in cumulative onchain transactions and $5.9 trillion in Q2 2025 onchain volume. Key infrastructure and product initiatives include CCTP (handled $57.6 billion in transfers through June 30, 2025), Circle Mint (1,740 institutional customers), Circle Reserve Fund (approximately 87% of USDC reserves), Circle Payments Network, Arc Layer-1 introduction, and the Hashnote (USYC) acquisition.

Schedule 13G disclosure by IDG-related entities and individuals reports an aggregate 10.1% ownership of Circle Internet Group (Class A). The filing shows an aggregate of 20,947,536 shares of Class A common stock tied to six reporting persons: Chuang Xi Capital Limited; IDG-Accel China Capital GP II Associates Ltd.; Wide Palace Limited; IDG China Capital Fund GP III Associates Ltd.; Chi Sing Ho; and Quan Zhou. The statement breaks down record holdings as 7,738,839 shares held of record by Chuang Xi Capital Limited and 13,208,697 shares held of record by Wide Palace Limited, and reports corresponding sole and shared voting and dispositive powers for the reporting entities. The percent ownership is calculated using 207,650,578 shares outstanding after the issuer's public offering (assuming full exercise of the underwriters' overallotment option). The filing lists the relevant CUSIP 172573107, the event date 06/30/2025, and signatures dated 08/12/2025.

Circle Internet Group reported a quarter marked by rapid reserve growth, an IPO-related equity reset, and a large net loss driven by one-time compensation and fair-value adjustments. The company recorded total assets of $64.15 billion and cash and cash equivalents segregated for the benefit of stablecoin holders of $61.37 billion as of June 30, 2025, up materially from December 31, 2024. Total deposits from stablecoin holders were $61.10 billion.

Revenue and reserve income for the three months ended June 30, 2025 was $658.08 million, including $634.27 million of reserve income. The quarter produced a net loss of $482.1 million, largely reflecting $423.8 million of stock-based compensation recognized when pre-IPO RSU performance vesting occurred on the IPO, and a substantial fair value change on convertible debt and related instruments. The IPO issued 19.9 million Class A shares at $31.00, generating net proceeds of approximately $583.0 million, and resulted in conversion of 139.8 million preferred shares into common stock.

On August 12, 2025, Circle Internet Group, Inc. (CRCL) reported via Form 8-K that it issued a press release announcing its financial results for the second quarter ended June 30, 2025. The press release is attached to the filing as Exhibit 99.1, and the filing also includes an interactive Cover Page XBRL file as Exhibit 104. The company discloses that the press release is furnished, not "filed," for purposes of Section 18 of the Exchange Act and is not incorporated by reference into other filings unless expressly stated.

The Form 8-K identifies the registrants Class A common stock trading under CRCL on the New York Stock Exchange and is signed by Chief Financial Officer Jeremy Fox-Geen on behalf of the company. The 8-K does not itself include numerical financial results; those details are contained in the attached Exhibit 99.1 press release.