Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 54

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 54
---
 and on August 5, 2024 the price of Bitcoin
was $53,991.35. On August 24, 2024, the price of Bitcoin had risen again to $64,176.37. In 2022, price swings were even more drastic,
with prices as high as $47,459 at the end of March 2022 and as low as $16,530 at the end of the year. Such volatility will impact the
overall value of our business and could cause volatility in the price of our stock.

The trading volume of Bitcoin
typically increases during periods of extreme volatility. For example, in the days following the federal elections in November 2024, the
price of Bitcoin rose sharply from $69,289.27 on November 2 to $87,250.43 on November 14, and volumes increased from 18,184,612,091
to 87,616,705,248 during that time period according to aggregate data from US exchange markets collected by CoinMarketCap. Such volume
increases can lead to extreme pressures on our and our partners’ platforms and infrastructure that can lead to inadvertent suspension
of services across parts of the platforms or the entire platforms. As a result, from time to time we may experience outages. Outages can
lead to increased customer service expense, can cause customer loss and reputational damage, result in inquiries and actions by regulators,
and can lead to other damages for which we may be responsible, any of which could harm our business.

<div align='center'>27</div>

Risks Related to Bitcoin

Due to unfamiliarity
and some negative publicity associated with Bitcoin products and services, confidence or interest in our platforms may decline.

Bitcoin is relatively new. Many
of our competitors offering Bitcoin-related products and services are unlicensed, unregulated, operate without supervision by any governmental
authorities, and do not provide the public with significant information regarding their ownership structure, management team, corporate
practices, cybersecurity, and regulatory compliance. As a result, customers and the general public may lose confidence or interest in
Bitcoin platforms, including platforms like ours that partner with regulated providers.

Negative perception, a lack of
stability and standardized regulation in the cryptoeconomy, and the closure or temporary shutdown of crypto asset platforms due to fraud,
business failure, hackers or malware, or government mandated regulation, and associated losses suffered by customers may continue to reduce
confidence or interest in the cryptoeconomy and result in greater volatility