Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 484

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 484
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 Revenue Rewards totaled $1.2 million and $2.8 million for the nine months ended September 30, 2024 and 2023, respectively. Deferred revenue Contract liabilities are classified as deferred revenue in our balance sheets. As of September 30, 2024 and December 31, 2023, the contract liability related to our deferred subscription revenues was $0.3 million and $0.4 million, respectively, and the contract liability related to the deferred Visa incentive was $0.6 million and $0.7 million, respectively.

F-36

Fold, Inc.
Notes to Unaudited Condensed Financial Statements 3. REVENUE (cont.) The activity in deferred revenue for the nine months ended September 30, 2024 and the year ended December 31, 2023, was as follows:

|                                                                                       |     |   |   Nine Months 
         Ended 
 September 30, 
          2024 |   |     |   |         Year 
        Ended 
 December 31, 
         2023 |   |
|:--------------------------------------------------------------------------------------|:----|:--|--------------:|:--|:----|:--|-------------:|:--|
| Beginning of the period contract liability                                            |     | $ |     1,012,010 |   |     | $ |    1,313,666 |   |
| Revenue recognized from the contract liabilities included in the beginning balance    |     |   |      (421,584 | ) |     |   |     (661,426 | ) |
| Increases due to cash received net of amounts recognized in revenue during the period |     |   |       340,468 |   |     |   |      359,770 |   |
| End of period contract liability                                                      |     | $ |       930,894 |   |     | $ |    1,012,010 |   |

Contract costs For the nine months ended September 30, 2024 and 2023, we did not incur any incremental costs to obtain and/or fulfill contracts with customers. 4. DIGITAL ASSETS The Company holds digital assets, comprised solely of bitcoin, for two purposes: (1) to fulfill bitcoin rewards to customers in accordance with the terms and conditions of the Fold Rewards Program (“Rewards Treasury”); and (2) as a treasury asset with the intention to hold as a long -terminvestment (“Investment Treasury”). The Company purchases bitcoin