Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 97

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 97
---
 balances. Our financial statements and disclosures, as a whole, will be available through periodic filings on a quarterly basis, and compliant with annual audit requirements of Article 3 of Regulation S -X. As of September30, 2024, 92% of our proprietary Bitcoin was held at BitGo, with the remaining amounts held in a multi -signaturecold storage wallet administered by Unchained Capital wallet. Bitcoin that we hold at BitGo is held in separate wallets under Fold’s name and is not commingled with the Bitcoin held on behalf of our customers, BitGo’s other customers, or BitGo itself. As of September30, 2024, 99% of our proprietary Bitcoin that we custody with BitGo was held in multi -signaturecold storage wallets, with the remainder held in self -managedhot wallets for operational purposes. Bitcoin that we hold in self -custodyis stored in an m -of-nmulti -signaturewallet administered by Unchained Capital and is therefore not held in a custodial wallet. Within this m -of-nwallet, Fold directly holds the number of private keys necessary to initiate a transaction, while Unchained holds a backup private key that can be used to restore a Fold key if necessary. Each of the private keys for our Unchained Capital wallet is stored in geographically separate locations. Bitcoin held on behalf of our customers is stored in one of three places: (1) directly at Fortress; (2) directly at BitGo, or (3) at BitGo in a sub -custodialarrangement with Fortress. (1)Bitcoin held on behalf of our customers directly at Fortress is held primarily in omnibus cold storage wallets for which Fortress controls the private keys. At any given time, approximately 90% of Bitcoin held in this capacity is held in omnibus cold storage wallets, with the remainder held in hot wallets used to facilitate customer withdrawals and other real -timeoperational needs. (2)Bitcoin held on behalf of our customers directly at BitGo is held primarily in omnibus cold storage wallets for which BitGo controls the private keys. At any given time, approximately 90% of Bitcoin held in this capacity is held in omnibus cold storage wallets, with the remainder held in hot wallets used to facilitate customer withdrawals and other real -timeoperational needs. (3)Fortress also utilizes BitGo as a sub -custodian. Within this sub -custodialarrangement, Fortress sends Fold customer funds to an omnibus BitGo cold storage wallet that