Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 40

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 40
---
 or services, any failure to capitalize on growth opportunities, or failure of new products and services we develop to gain traction
in the market. We cannot be certain that we will be able to achieve profitability or achieve positive operating cash flow on any quarterly
or annual basis. If we are unable to effectively manage these risks and difficulties as we encounter them, our business, operating results,
and financial condition may suffer.

If we do not effectively
scale our business, or are unable to maintain and improve our systems and processes, our operating results could be adversely affected.

We have experienced a period
of significant growth in recent years, both in terms of employee headcount and customer growth, followed by the scaling back of our business
in response to changing economic conditions. As our business changes, it becomes increasingly complex. To effectively manage and capitalize
on our growth periods, we need to manage headcount, capital and processes efficiently while making investments such as expanding our information
technology and financial, operating, and administrative systems and controls. Growth and scaling back initiatives could strain our existing
resources, and we could experience ongoing operating difficulties in managing our business as it expands across numerous jurisdictions,
including difficulties in hiring, training, managing and retaining a remote and evolving employee base. If we do not adapt or scale to
meet these evolving challenges, we may experience erosion to our brand, the quality of our products and services may suffer, and our company
culture may be harmed. Moreover, the failure of our systems and processes could undermine our ability to provide accurate, timely, and
reliable reports on our financial and operating results, including the financial statements provided herein, and could impact the effectiveness
of our internal controls over financial reporting. In addition, our systems and processes may not prevent or detect all errors, omissions,
or fraud. Any of the foregoing operational failures could lead to noncompliance with laws, loss of operating licenses or other authorizations,
or loss of bank relationships that could substantially impair or even suspend company operations.

<div align='center'>20</div>

Successful implementation of
our growth strategy will also require significant expenditures before any substantial associated revenue is generated and we cannot guarantee
that these increased investments will result in corresponding and offsetting revenue growth. Because we have a limited history operating
our business at its current scale, it is difficult to evaluate our current business and future prospects, including our ability to plan
for and model future growth. Our limited operating experience at this scale, combined with the rapidly evolving nature of the Bitcoin
asset market in