Company: FLDDW
Filing Date: 2025-04-11
Form Type: 424B3
Source: 0001213900-25-031004
Chunk: 127

Company: Fold Holdings, Inc.
Filing Date: 2025-04-11
Form: 424B3
Chunk 127
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         2023 |
|:-----------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Rewards treasury (USD)       |     | $ |    8,569,651 |     | $ |    5,333,384 |
| Investment treasury (USD)    |     |   |   93,568,700 |     |   |       82,631 |
| Total bitcoin treasury (USD) |     | $ |  102,138,351 |     | $ |    5,416,015 |

|                              |     |     | December 31, 
         2024 |     |     | December 31, 
         2023 |
|:-----------------------------|:----|:----|-------------:|:----|:----|-------------:|
| Rewards treasury (BTC)       |     |     |           92 |     |     |          126 |
| Investment treasury (BTC)    |     |     |        1,002 |     |     |            2 |
| Total bitcoin treasury (BTC) |     |     |        1,094 |     |     |          128 |

During the months ended June 30, 2024 and July
31 2024, we entered into various capital raising transactions to acquire bitcoin for our Investment Treasury. As of December 31, 2024,
we held approximately 1,094 BTC in our Bitcoin Treasury which had a market value of $102.1 million based on the market price of one bitcoin
on the Coinbase exchange at 11:59:59 p.m. UTC time on December 31, 2024, which was approximately $93.4 thousand.

Key components of results of operations

Revenue

Banking and payments revenue

Fold is a financial services platform and not
a chartered bank. Our banking and payments revenues consist of revenues received from our Fold Debit Card and related product features,
including:

| ● | Fold+ Subscriptions: Fold’s premium membership tier, called “Fold+”, offers users                                                     
 reduced or no fees on eligible products, higher rewards, and access to limited features. Fold+ costs $100/year or $10/month depending 
 on the customer’s payment frequency selection.                                                                                        |

| ● | Interchange: Every time a Fold user makes a payment using their Fold Debit Card, Fold earns a share                                       
 of the total interchange fee charged on that transaction