Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 22

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1
Chunk 22
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 and overall sentiment towards, Bitcoin;

●macroeconomic conditions, including interest rates, inflation
and central banking policies;

●adverse legal proceedings or regulatory enforcement actions,
judgments, settlements, or other legal proceeding and enforcement-related costs;

●the development and introduction of existing and new products
and services by us or our competitors;

●our ability to control costs, including our operating expenses
incurred to grow and expand our operations and to remain competitive;

●system failure, outages or interruptions, including with
respect to our and our partners’ platforms;

●our lack of control over decentralized or third-party blockchains
and networks that may experience downtime, cyber-attacks, critical failures, errors, bugs, corrupted files, data losses, or other similar
software failures, outages, breaches and losses;

●breaches of security or privacy;

●inaccessibility of our and our partners’ platforms
due to our or third-party actions;

●our ability to attract and retain talent; and

●our ability to compete with our competitors.

As a result of these factors, it is difficult for
us to forecast growth trends accurately and our business and future prospects are difficult to evaluate, particularly in the short term.

In view of the rapidly evolving nature of our business
and Bitcoin, period-to-period comparisons of our operating results may not be meaningful, and you should not rely upon them as an indication
of future performance. Quarterly and annual expenses reflected in our financial statements may be significantly different from historical
or projected rates. Our operating results in one or more future quarters may fall below the expectations of securities analysts and investors.
As a result, the trading price of our common stock may increase or decrease significantly.

16

We are subject to an extensive, highly-evolving and uncertain
regulatory landscape and any adverse changes to, or our failure to comply with, any laws and regulations could adversely affect our brand,
reputation, business, operating results, and financial condition.

Our business is subject to extensive laws, rules,
regulations, policies, orders, determinations, directives, treaties, and legal and regulatory interpretations and guidance in the markets
in which we operate, including those governing financial services and banking, credit, Bitcoin asset custody, exchange, and transfer,
privacy, data governance, data protection, cybersecurity, fraud detection, payment services (including payment processing and settlement
services), money transmission (including prepaid access), virtual currency business, consumer protection, escheatment, antitrust and competition,
bankruptcy, tax, anti-b