Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 141

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 141
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 The perception of bitcoin as a legitimate and secure asset class and technology by the                                
 general public plays a crucial role. The pace and effectiveness of continued education and awareness will impact adoption rates. |

| ● | Regulation: The global regulatory landscape for bitcoin, including clarity around legal status,                                           
 accounting and tax treatment, and other compliance requirements will significantly impact its growth. Favorable regulations can encourage 
 adoption, while restrictive measures can hinder it.                                                                                       |

| ● | Institutional Adoption:  Increased participation by institutional investors, including hedge                                 
 funds, mutual funds, corporations, and nation states can drive market confidence and liquidity, supporting continued growth. |

| ● | Political environment: Bitcoin has entered the political conversation in the United States and                                                
 abroad. As a global leader in innovation and new technologies, we anticipate the United States political environment will become increasingly 
 favorable for our industry.                                                                                                                   |

| ● | Monetary Policy: Central bank monetary policies, especially those related to interest rates and                                            
 monetary supply, can influence bitcoin adoption. Low-interest rates and expansive monetary policies that lead to currency debasement often 
 lead to a search for alternative investments like bitcoin.                                                                                 |

| ● | Technological innovation: Advances in blockchain technology, improvements in scalability (e.g.,                                   
 Lightning Network), and enhanced security protocols can increase bitcoin adoption and integration into various financial systems. |

Bitcoin market price risk

Our bitcoin treasury assets and customer rewards
liability are measured using observed prices from active exchanges which could result in volatility in our financial results in future
periods. Adjustments are recorded in net income through “gain (loss) on digital assets” and “gain (loss) on customer
reward liability” on the statements of operations. Therefore, negative swings in the market price of bitcoin could have a material
impact on our earnings and on the carrying value of our digital assets.

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BUSINESS</div>

Company Overview

Founded in 2019, Fold is a pioneering
bitcoin financial services company dedicated to expanding access to bitcoin through a comprehensive suite of consumer financial products.

Fold was formed with the goal
of creating a modern financial services platform that allows consumers to accumulate, save, and use bitcoin to accomplish their daily
and long-term financial goals. Fold offers consumers an FDIC insured checking account, a Visa prepaid debit card, bill payments, and an
extensive catalog of merchant reward offers. Fold also partners with third-party service providers that offer bitcoin exchange and custody
services. By integrating bitcoin across traditional financial services,