Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 24

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1
Chunk 24
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 trend toward stricter oversight of crypto asset platforms and the cryptoeconomy. Furthermore, new interpretations of existing
laws and regulations may be issued by such bodies or the judiciary, which may adversely impact the development of the cryptoeconomy as
a whole and our legal and regulatory status in particular by changing how we operate our business, how our products and services are regulated,
and what products or services we and our competitors can offer, requiring changes to our compliance and risk mitigation measures, imposing
new licensing requirements, or imposing a total ban on certain crypto asset transactions, as has occurred in certain jurisdictions in
the past. If we are unable to comply with any new requirements, our ability to offer our products and services in their current form may
be adversely affected.

We believe that the products and services offered
by us directly, as opposed to those that are offered by our third party service providers, including the Bitcoin Service Providers and
Sutton Bank, are not subject to supervisory authority of regulatory authorities, or are only subject to certain regulatory regimes. However,
these products and services may cause us to be deemed to be engaged in a form of regulated activity for which licensure is required or
cause us to become subject to new and additional forms of regulatory oversight or supervision. To the extent that we or our employees,
contractors, or agents are deemed or alleged to have violated or failed to comply with any laws or regulations, including related interpretations,
orders, determinations, directives, or guidance, we or they could be subject to a litany of civil, criminal, and administrative fines,
penalties, orders and actions, including being required to suspend or terminate the offering of certain products and services. Moreover,
to the extent our customers nevertheless access our and our partners’ platforms, products or services outside of jurisdictions where
we have obtained required governmental licenses and authorization, we could similarly be subject to a variety of civil, criminal, and
administrative fines, penalties, orders and actions as a result of such activity.

17

Due to our business activities, it is possible that
in the future we may be subject to investigations and inquiries, by U.S. federal and state regulators and foreign regulators, many
of which have broad discretion to audit and examine our business. Further, we believe increasingly strict legal and regulatory requirements
and additional regulatory investigations and enforcement, any of which could occur or intensify, may continue to result in changes to
our business, as well as increased costs, and supervision and examination for ourselves, our agents,