Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 89

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1
Chunk 89
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 Google, and advertisements on social networking sites and other web-based platforms. If we are listed less prominently
or fail to appear in search results for any reason, downloads of our mobile application, and visits to our website and kiosks, could decline
significantly, and we may not be able to replace this traffic. Search engines revise their algorithms from time to time in an attempt
to optimize their search results. If the search engines on which we rely for algorithmic listings modify their algorithms, we may appear
less prominently or not at all in search results, which could result in reduced traffic to our website that we may not be able to replace.
Additionally, if the costs of search engine marketing services, such as Google AdWords, increase, we may incur additional marketing expenses,
we may be required to allocate a larger portion of our marketing spend to this channel or we may be forced to attempt to replace it with
another channel (which may not be available at reasonable prices, if at all), and our business, financial condition and results of operations
could be adversely affected.

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Furthermore, competitors may in the future bid on
search terms that we use to drive traffic to our website and engagement with current and potential users. Such actions could increase
our marketing costs and result in decreased traffic to our website or use of our application. In addition, search engines, social networking
sites and other web-based platforms may change their advertising policies from time to time. If any change to these policies delays or
prevents us from advertising through these channels, it could result in reduced traffic to our website or use of our application. Additionally,
new search engines, social networking sites and other web-based platforms may develop in specific jurisdictions or more broadly that reduce
traffic on existing search engines, social networking sites and other web-based platforms. Moreover, the use of voice recognition technology
such as Alexa, Google Assistant, Cortana, or Siri may drive traffic away from search engines, potentially resulting in reduced traffic
to our website or use of our application. If we are not able to achieve awareness through advertising or otherwise, we may not achieve
significant traffic to our website or mobile application.

Risks Related to Intellectual Property

Our intellectual property rights are valuable, and any inability
to protect them could adversely impact our business, operating results, and financial condition.

Our business depends in large part on our proprietary
technology and our brand. We rely on, and expect to continue to rely on, a combination of trademark, copyright, trade secret and other