Company: FLDDW
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001213900-25-068264
Chunk: 315

Company: Fold Holdings, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 315
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4       |       |   |
|:------------------------|:----|:-----------|------:|:--|
| Risk-free interest rate |     |            |  3.90 | % |
| Term (in years)         |     |            |   5.0 |   |
| Probability of de-SPAC  |     |            |  20.0 | % |
| Exercise price          |     | $          | 11.50 |   |
| Public Warrant Price    |     | $          | 0.053 |   |

The following table presents the changes in the fair value of the Level 3 note payable:

| Fair value as of December 31, 2023 |     |     |       — |
|:-----------------------------------|:----|:----|--------:|
| Initial value                      |     |     | 550,000 |
| Fair value as of December 31, 2024 |     |     | 550,000 |

There were no transfers between Levels1, 2 and 3 during the periods ended December 31, 2024 and 2023.

F-53

FOLD HOLDINGS, INC.
(F/K/A FTAC EMERALD ACQUISITION CORP.)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2024

NOTE 8. INCOME TAXES

The Company’s net deferred tax assets are as follows:

| Deferred tax asset                   |     | December 31, 
 2024         |            |   |     | 2023 |            |   |
|:-------------------------------------|:----|:-------------|-----------:|:--|:----|:-----|-----------:|:--|
| Organizational costs/Start-up costs  |     | $            |  2,001,367 |   |     | $    |  1,253,839 |   |
| Federal net operating loss           |     |              |          — |   |     |      |          — |   |
| Total deferred tax asset             |     |              |  2,001,367 |   |     |      |  1,253,839 |   |
| Valuation allowance                  |     |              | (2,001,367 | ) |     |      | (1,253,839 | ) |
| Deferred tax asset, net of allowance |     | $            |