Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 94

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 94
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, the U.S. federal, state, local or other jurisdictional tax laws could have a material adverse effect on our business,
financial condition and results of operations.

All statements contained herein
concerning U.S. federal income tax (or other tax) consequences are based on existing law and interpretations thereof. The tax regimes
to which we are subject or under which we operate, including income and non-income taxes, are unsettled and may be subject to significant
change. While some of these changes could be beneficial, others could negatively affect our after-tax returns. Accordingly, no assurance
can be given that the currently anticipated tax treatment will not be modified by legislative, judicial or administrative changes, possibly
with retroactive effect. In addition, no assurance can 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.

Our ability to use
our deferred tax assets may be subject to certain limitations under U.S. or foreign law.

Realization of our deferred tax
assets, in the form of future domestic or foreign tax deductions, credits or other tax benefits, will depend on future taxable income,
and there is a risk that some or all of such tax assets could be subject to limitation or otherwise unavailable to offset future income
tax liabilities, all of which could adversely affect our operating results. For example, future changes in our stock ownership, the causes
of which may be outside of our control, could result in an ownership change under Section 382 of the Internal Revenue Code of 1986, as
amended (the “Code”), which could limit our use of such tax assets in certain circumstances. Similarly, additional changes
may be made to U.S. (federal and state) and foreign tax laws which could further limit our ability to fully utilize these tax assets against
future taxable income.

Under the Inflation Reduction
Act, our ability to utilize tax deductions or losses from prior years may be limited by the imposition of the 15% minimum tax if, in future
years, such minimum tax applies to us. Therefore, we may