Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 760

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 3
Chunk 760
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 the audit committee can read and understand fundamental financial statements
in accordance with applicable audit committee requirements. In arriving at this determination, the Board examined each audit committee
member’s scope of experience and the nature of their prior and/or current employment. Mr. Simha serves as the chair of the audit
committee. The Board has determined that Mr. Simha qualifies as an audit committee financial expert within the meaning of SEC regulations
and meets the financial sophistication requirements of Nasdaq listing rules. In making this determination, the Board considered Mr. Simha’s
formal education and previous experience in financial roles. Both our independent registered public accounting firm and management periodically
meet privately with the audit committee.

The functions of the audit committee include, among other things:

●evaluating the performance, independence, compensation, retention,
oversight and qualifications of our independent auditors and determining whether to retain our existing independent auditors or engage
new independent auditors;

●reviewing our financial reporting processes and disclosure
controls;

●reviewing and approving the engagement of our independent
auditors to perform audit services and any permissible non-audit services;

●reviewing the adequacy and effectiveness of our internal control
policies and procedures, including reviewing, with the independent auditors, management’s plans with respect to the responsibilities,
budget, staffing and effectiveness of our internal audit function, and reviewing and approving our head of internal audit (if established);

●reviewing with the independent auditors the annual audit plan,
including the scope of audit activities and all critical accounting policies and practices to be used by the Company;

●obtaining and reviewing at least annually (if required by
applicable stock exchange listing requirements) or as otherwise determined, a report by our independent auditors describing the independent
auditors’ internal quality-control procedures and any material issues raised by the most recent internal quality-control review,
peer review, or any inquiry or investigation by governmental or professional authorities;

●setting clear hiring policies for employees or former employees
of our independent auditors;

●monitoring the rotation of partners of our independent auditors
on our engagement team as required by law;

●at least annually, reviewing relationships that may reasonably
be thought to bear on the independence of the committee, receiving and reviewing a letter from the independent auditor affirming their
independence, discussing the potential effects of any such relationship, and assessing and otherwise taking the appropriate action to
oversee the independence of our independent auditor;

●reviewing our annual and quarterly financial statements and
reports, including the