Company: FLDDW
Filing Date: 2025-08-11
Form Type: 424B3
Source: 0001213900-25-074298
Chunk: 135

Company: Fold Holdings, Inc.
Filing Date: 2025-08-11
Form: 424B3
Chunk 135
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23,432,996 |   |     | $ | 21,369,897 |   |     | $ | 2,063,099 |     |  10 | %      |
| Custody and trading revenues       |     |                         |    170,746 |   |     |   |     26,932 |   |     |   |   143,814 |     |  NM | ​(i)   |
| Other revenues                     |     |                         |    161,000 |   |     |   |    152,625 |   |     |   |     8,375 |     |   5 | %      |
| Less: Sales returns and allowances |     |                         |    (11,594 | ) |     |   |    (15,422 | ) |     |   |     3,828 |     | -25 | %      |
| Revenues, net                      |     | $                       | 23,753,148 |   |     | $ | 21,534,032 |   |     | $ | 2,219,116 |     |  10 | %      |

____________ (i)Not meaningful (“NM”) Total net revenue for the year ended December 31, 2024 increased by $2.2 million, or 10%, compared to the year ended December 31, 2023.

80 Banking and payments The primary driver behind increased banking and payments revenues related to merchant offers within our banking and payments business. Net revenues from merchant offers increased 13% from $19.1 million for the year ended December 31, 2023 to $21.7 million for the year ended December 31, 2024. This increase was driven primarily due to our intentional focus on marketing our merchant offers product during the Q4 2024 holiday shopping season, which has historically driven higher consumer spending volume on Fold’s platform. Net revenues from merchant offers increased 47% from $5.3 million in Q4 2023 to $7.8 million in Q4 2024. Excluding merchant offers, our gross banking and payments revenues decreased to $1.8 million for the year ended December 31, 2024 compared to $2.2 million for the year ended December 31, 2023. This decrease was driven primarily by decreased interchange fees for certain debit card transactions during 2024, partially offset by lower Revenue Rewards. Custody