Company: FLDDW
Filing Date: 2025-07-11
Form Type: S-1
Source: 0001213900-25-062935
Chunk: 131

Company: Fold Holdings, Inc.
Filing Date: 2025-07-11
Form: S-1
Chunk 131
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 our 2024 spend of $0.3 million. Responsible growth via identification of high impact marketing channels, paid user acquisition, increased brand awareness, and partnership programs. While we expect our existing products to benefit from this growth strategy, we also expect the addition of new products like the Fold Credit Card and the Fold Bitcoin Gift Card to create synergies across product lines and attract new users who are looking for a more comprehensive suite of financial products. Bitcoin treasury strategy As of March 28, 2025, Fold has accumulated more than 1,485 bitcoin in our Investment Treasury. As part of our bitcoin treasury investment strategy, Fold will continue to pursue additional bitcoin accumulation opportunities over the near term. We believe existing macro conditions to be favorable towards adding additional bitcoin to our balance sheet at current market prices. Key operating metrics We collect and analyze operating and financial data to evaluate the health of our business, allocate our resources, and assess our performance. In addition to certain GAAP metrics, we also monitor various non -GAAPmeasures to evaluate our business. We believe the following metrics and measures are useful to facilitate period -to-periodcomparisons of our business and to facilitate comparisons of our performance to that of other financial service providers. Where applicable we have provided definitions of metrics we consider key to our operations below. Accounts •Active Accounts represent current Fold accounts that have not been deactivated by Fold or the user; and •Verified Accounts represent users who have gone through Know Your Customer (“KYC”) verification to participate in our banking and exchange products. During the year ended December 31, 2024, we added: •More than 25,000 new Active Accounts, bringing total Active Accounts to more than 590,000; and •More than 8,000 Verified Accounts, bringing total Verified Accounts to more than 71,000. As an early entrant to bitcoin financial services, our customer growth to date has been predominantly fueled by organic word of mouth, partner co -marketing, and active social media engagement which have contributed to low customer acquisition costs (“CAC”). Fold has achieved our current user base with CAC of less than $10 per Active Account since inception, compared to industry averages of up to $300+ per customer for traditional financial service providers. 75

Transaction volumes Transaction Volume is inclusive of deposits, spend, and withdrawals across our platform and are inclusive of both fiat (“USD”) and bitcoin (“BTC”) transaction volumes. From inception through December 31, 2024, Fold processed more than $2.5 billion