Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 89

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 89
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 conditions have impacted the cryptoeconomy, although the extent of which remains uncertain and dependent on a variety
of factors, including market adoption of crypto assets, global trends in the cryptoeconomy, central bank monetary policies, instability
in the global banking system and other events beyond our control. Geopolitical developments, such as trade wars and foreign exchange limitations
can also increase the severity and levels of unpredictability globally and increase the volatility of global financial and crypto asset
markets. For example, the capital and credit markets have experienced extreme volatility and disruptions, resulting in steep declines
in the value of Bitcoin. To the extent general economic conditions and the Bitcoin market materially deteriorate or the current decline
continues for a prolonged period, our ability to generate revenue and to attract and retain customers could suffer and our business, operating
results and financial condition could be adversely affected. Moreover, even if general economic conditions improve, there is no guarantee
that the cryptoeconomy will similarly improve.

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Further, in 2022, a number of
blockchain protocols and crypto financial firms, and in particular protocols and firms involving high levels of financial leverage such
as high-yield lending products or derivatives trading, suffered from insolvency and liquidity crises leading to the 2022 Events. Some
of the 2022 Events are alleged or have been held to be the result of fraudulent activity by insiders, including misappropriation of customer
funds and other illicit activity and internal controls failures. In connection with the 2022 Events, concerns were raised about the potential
for a market condition where the failure of one company leads to the financial distress of other companies, which has the potential to
depress the prices of assets used as collateral by other firms. If such a market condition were to become widespread in the cryptoeconomy,
we could suffer from increased counterparty risk, including defaults or bankruptcies of major customers or counterparties, which could
lead to significantly reduced activity on our platform and fewer available Bitcoin market opportunities in general. Further, forced selling
of Bitcoin by distressed companies could lead to lower Bitcoin prices and may lead to a reduction in our revenue. To the extent that conditions
in the general economic and the Bitcoin market were to materially deteriorate, our ability to attract and retain customers may suffer.

Actual events involving limited
liquidity, defaults, non-performance or other adverse developments that affect financial institutions, transactional counterparties or
other companies in the financial services industry, or the financial services