Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 359

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 359
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 45%, compared to the nine months ended September 30, 2023. A majority of this decrease was due to lower traditional advertising expenses. Professional fees Professional fees for the nine months ended September30, 2024 increased by $3.4million related to legal, accounting, and consulting fees incurred in relation to the proposed merger with FTAC Emerald. Gain (loss) on customer reward liability and digital assets — rewards treasury Gain (loss) on customer reward liability and digital assets — rewards treasury include components of unrealized gains (losses) resulting from the remeasurement gain or loss for the change in fair value of bitcoin held by Fold for the purposes of fulfilling our customer rewards liability in the current reporting period, as well as realized gains (losses) that occur upon the fulfillment of customer rewards liabilities. The price of bitcoin was approximately $16.5 thousand, $30.5 thousand, $42.3 thousand, and $63.7 thousand as of the months ended December 31, 2022, September 30, 2023, December 31, 2023, and September 30, 2024, respectively. These price changes were the primary driver of gains (losses) for both customer rewards liabilities and digital assets for the nine months ended September 30, 2023 and 2024. Other income (expense) Gain (loss) on digital assets — investment treasury includes components of unrealized gains (losses) resulting from the remeasurement gain or loss for the change in fair value of bitcoin held by Fold for the purposes of holding the digital assets for a long -terminvestment in the current reporting period. This loss in the period ended September 30, 2024 was driven by the change in the price of bitcoin from the receipt of the Company’s June and July 2024 SAFEs through the period end. Change in fair value of SAFEs results from unrealized gain or loss due to the change in fair value of our long -termSAFE liabilities, which is determined based on the aggregated, probability -weightedaverage of the outcomes of certain scenarios. The combined value of the probability -weightedaverage of those outcomes is then discounted back to each reporting period in which the SAFEs are outstanding, in each case based on a risk -adjusteddiscount rate estimated to set the 226 probability -weightedsum of each scenario to the purchase price. The discount rate at each valuation date is adjusted by the change in the USD CCC bond rate to reflect the market movement between the issuance