Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 308

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 308
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 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 cannot assure you that our securities will continue
to be listed on Nasdaq in the future. In order to continue listing our securities on Nasdaq, we must maintain certain financial, distribution
and stock price levels.

If Nasdaq delists our securities from trading on
its exchange and we are not able to list our securities on another national securities exchange, we expect our securities could be quoted
on an over-the-counter market. If this were to occur, we could face significant material adverse consequences, including:

●a limited availability of market quotations for our Common
Stock;

●a reduced level of trading activity in the secondary trading
market for our Common Stock