Company: FLDDW
Filing Date: 2025-08-11
Form Type: 424B3
Source: 0001213900-25-074298
Chunk: 276

Company: Fold Holdings, Inc.
Filing Date: 2025-08-11
Form: 424B3
Chunk 276
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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                       |     |   |            — |   |     |   |       (7,487 | ) |
| Total deferred tax liabilities             |     |   |   (8,783,323 | ) |     |   |     (560,076 | ) |
| Net deferred tax asset (liability)         |     | $ |            — |   |     | $ |            — |   |

As of December 31, 2024 and 2023, the Company had $0.3 million and $6.1 million in net deferred tax assets, respectively. At each reporting date, management considers new evidence, both positive and negative that could affect its view of the future realization of deferred tax assets. The Company has established a full valuation allowance against the deferred tax assets due to the lack of sufficient positive evidence to support their realization. This assessment will be reviewed periodically, and adjustments to the valuation allowance will be made as warranted by changes in circumstances. As of December 31, 2024 and 2023, the Company recorded a full valuation allowance of $0.3 million and $6.1 million, respectively. As of December 31, 2024 and 2023, the Company has federal net operating losses of $21.2 million and $15.1 million, respectively, which do not expire. Utilization of the net operating losses may be subject to annual limitations due to the “change in ownership” provisions of the Internal Revenue Code of 1986 under Section 382. As of December 31, 2024 and 2023, the Company has not completed a Section 382 study to make this determination.

F-27

Fold, Inc.
Notes to Financial Statements 13. INCOME TAXES (cont