Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 107

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1
Chunk 107
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 on our business, financial condition and results of
operations.

All statements contained herein concerning U.S. federal
income tax (or other tax) consequences are based on existing law and interpretations thereof. The tax regimes to which we are subject
or under which we operate, including income and non-income taxes, are unsettled and may be subject to significant change. While some of
these changes could be beneficial, others could negatively affect our after-tax returns. Accordingly, no assurance can be given that the
currently anticipated tax treatment will not be modified by legislative, judicial or administrative changes, possibly with retroactive
effect. In addition, no assurance can be given that any tax authority or court will agree with any particular interpretation of the relevant
laws.

State, local or other jurisdictions could impose,
levy or otherwise enforce tax laws against us. Tax laws and regulations at the state and local levels frequently change, especially in
relation to the interpretation of existing tax laws for new and emerging industries, and we cannot always reasonably predict the impact
from, or the ultimate cost of compliance with, current or future taxes, which could have a material adverse effect on our business, financial
condition and results of operations.

61

If the perceived benefits of the Business Combination do not
meet the expectations of investors or securities analysts, the market price of our securities may decline.

If the perceived benefits of the Business Combination
do not meet the expectations of investors or securities analysts, the market price of our securities may decline, which could contribute
to the loss of all or part of your investment.

Broad market and industry factors may materially
harm the market price of our securities after the Business Combination, irrespective of our operating performance. The stock market in
general and Nasdaq have experienced price and volume fluctuations that have often been unrelated or disproportionate to the operating
performance of the particular companies affected. The trading prices and valuations of these securities may not be predictable. A loss
of investor confidence in the market for retail stocks or the stocks of other companies, notably in the Bitcoin financial services industry,
which investors perceive to be similar to us, could depress our stock price regardless of its business, prospects, financial conditions
or results of operations. A decline in the market price for our securities also could adversely affect our ability to issue additional
securities and to obtain additional financing in the future.

Nasdaq may delist our securities from trading which could limit
investors’ ability to make transactions in our securities and subject us to additional trading restrictions.

We