Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 355

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 355
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 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 $46.3 thousand, $16.5 thousand, and $42.3 thousand as of the years ended December 31, 2021, 2022, and 2023, respectively. These price changes were the primary driver of gains (losses) for both customer rewards liabilities and digital assets for the years ended December 31, 2022 and 2023. Other income (expense) 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 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 date and valuation date. 224

Unaudited results of operations for the nine months ended September 30, 2024 and 2023 Results of operations

|                                                    |     | Nine Months Ended September 30, |        2024 |   |     |   |       2023 |   |     |   |    $ Change |   |     |       | % Change |
|:---------------------------------------------------|:----|:--------------------------------|------------:|:--|:----|:--|-----------:|:--|:----|:--|------------:|:--|:----|------:|:---------|
| Revenues, net                                      |     | $                               |  15,311,724 |   |     | $ | 15,793,860 |   |     | $ |    (482,136 | ) |     |    (3 | )%       |
| Operating expenses                                 |     |                                 |             |   |     |   |            |   |     |   |             |   |     |       |          |
| Banking and payment costs                          |     |                                 |  14,459,183 |   |     |   | 15,489,