Company: FLDDW
Filing Date: 2025-01-14
Form Type: CORRESP
Source: 0001213900-25-003169
Chunk: 1

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: CORRESP
Chunk 1
---
/or                                                                                    
 Fold relating to such determination, and describe in greater                                                                                  
 detail the steps that Fold will take to ensure that any actions are in compliance with federal securities laws.                               |

Response: The Staff’s comment is noted. The
Company respectfully advises the Staff that any forked assets corresponding to bitcoin custodied on behalf of Fold customers would be
held initially by the Bitcoin Service Provider responsible for such custodied bitcoin. Accordingly, Fold’s determination that the
Bitcoin Service Providers, and not Fold, will be primarily responsible for determining whether a forked asset is a “security”
within the meaning of Section 2(a)(1) of the Securities Act and the related implications under federal securities laws of any distribution
thereof, is based on the premise that such determination should be made priorto any transfer or distribution by a Bitcoin Service
Provider of a forked asset to Fold to ensure compliance with applicable law. Said differently, any determination by Fold with respect
to whether a forked asset held by Fold is a “security” will have occurred following a transfer or distribution of such forked
asset from a Bitcoin Service Provider to Fold, as Fold does not hold directly any bitcoin on behalf of Fold or its customers. While the
Bitcoin Service Providers will be at the forefront of assessing steps to ensure legal compliance with respect to forked assets, Fold will
actively monitor and assess any such situation to protect Fold and its customers. To that end, the Company has revised the Amended Registration
Statement in response to the Staff’s comment to disclose the risks and liabilities relating to such determination and describe in
greater detail the steps that Fold will take to ensure that any actions are in compliance with federal securities laws. Please see the
updated disclosure beginning on page 65 of the Amended Registration Statement.

January 14, 2025
Page 2

Information About Fold

Our Products and Services

Custody & Trading, page 192

| 2. | We note your response to prior comment 5. Please revise your disclosure                                                                 
 to specify which applicable state banking, payments or trust laws the Bitcoin Service Providers are qualified under, to custody digital 
 assets.                                                                                                                                 
 Response: The Company has revised the Amended Registration Statement                                                                    
 in response to the Staff’s comment. Please see the updated disclosure beginning on pages 195 and 202 of the Amended Registration        
 Statement.                                                                                                                              |

How Fold Users Access Fold Products and Services, page 193

| 3. | We note your response to prior comment