Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 260

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 260
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eductible/non-taxable items partially offset
by the change in valuation allowance.

<div align='center'>F-25

Fold, Inc.

Notes to Financial Statements</div>

The tax effects of temporary differences and tax
attributes that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities are presented
below:

|                                            |     |   | December 31, 
         2024 |   |     |   | December 31, 
         2023 |   |
|:-------------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Deferred taxes                             |     |   |              |   |     |   |              |   |
| Customer rewards liability                 |     | $ |    2,193,675 |   |     | $ |    1,349,023 |   |
| Goodwill and intangible assets             |     |   |       13,376 |   |     |   |            - |   |
| Capital loss carryforward                  |     |   |            - |   |     |   |      574,265 |   |
| Capitalized research and development costs |     |   |      815,967 |   |     |   |      644,502 |   |
| Net operating losses                       |     |   |    5,676,941 |   |     |   |    3,845,840 |   |
| Credits                                    |     |   |      355,672 |   |     |   |      266,621 |   |
| Other                                      |     |   |        3,379 |   |     |   |        3,339 |   |
| Total deferred tax assets                  |     |   |    9,059,010 |   |     |   |    6,683,590 |   |
| Valuation allowance                        |     |   |     (275,687 | ) |     |   |   (6,123,514 | ) |
| Net deferred tax assets                    |     |   |    8,783,323 |   |     |   |      560,076 |   |
| Digital assets                             |     |   |   (8,783,323 | ) |     |   |     (552,589 | ) |
| Capitalized software                       |     |   |            - |