Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 143

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 143
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that are eligible to earn rewards change from time to time at Fold’s discretion.

Rewards are valued either as
a percentage of a transaction (i.e. 1.5% back) or as a flat amount of satoshis (“sats”), which is a subunit of bitcoin (i.e.
25 sats). There are 100,000,000 sats in 1 bitcoin. For rewards valued as a percentage of a transaction, Fold calculates the value of those
rewards as the US dollar value of those rewards multiplied by the USD-BTC exchange rate at the time of the transaction based on the USD
exchange rate of one bitcoin on the Coinbase exchange. For example, assume a user earns 1.5% back on a $100 purchase when the USD-BTC
exchange rate is $50,000 per bitcoin. In that scenario, a user would earn 3,000 sats (($1.50 / $50,000) * 100,000,000 sats). Rewards are
then credited to a user’s account at the sats value (in this case 3,000 sats), regardless of future changes in the USD-BTC exchange
rate.

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All rewards are earned immediately
upon the performance of a qualifying action by the user, but not all rewards are immediately available for redemption. The redemption
criteria for rewards varies by the type of qualifying action or transaction as outlined in the terms and conditions of the Fold Rewards
Program. For example, rewards earned on the daily spin wheel are available for redemption immediately, while rewards earned via certain
qualifying spend transactions on the Fold Card are subject to a 30-day settlement period before becoming available for redemption, a policy
that is in place to prevent fraudulent activities.

Per the terms and conditions
of the Fold Rewards Program, rewards are subject to adjustment for chargebacks, returns, refunds, or other circumstances. In addition,
rewards are subject to expiry if users fail to maintain an active account for more than twelve consecutive months.

A user may redeem rewards by
making a request to withdraw them to a personal bitcoin wallet, either to an external bitcoin wallet or to a user’s bitcoin wallet
at the qualified custodians used by Fold. Users can initiate a redemption request at any time, but redemption requests are fulfilled by
Fold approximately once per week as a batch fulfilment. To fulfill rewards withdrawal requests Fold sends bitcoin from our Rewards Treasury
to the user’s bitcoin wallet address