Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 82

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1
Chunk 82
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 a different bank to continue to offer
the Fold Card product (as defined below). If we partner with a new bank, issuance and servicing of the Fold Card product could be disrupted
and delayed as we transition to a different bank partner. We also may face increased costs and compliance burdens if the program agreement
with Sutton Bank is terminated.

Sutton Bank is subject to regulation and supervision
by the Federal Deposit Insurance Corporation (“FDIC”). Many laws and regulations that apply directly to Sutton Bank indirectly
impact us (and our products) as Sutton Bank’s service provider. As such, our partnership with Sutton Bank is subject to the supervision
and enforcement authority of the FDIC, Sutton Bank’s primary banking regulator.

47

We may in the future, enter into partnerships, collaborations,
joint ventures, or strategic alliances with third parties. If we are unsuccessful in establishing or maintaining strategic relationships
with these third parties or if these third parties fail to deliver certain operational services, our business, operating results, and
financial condition could be adversely affected.

We may in the future, enter into partnerships,
collaborations, joint ventures, or strategic alliances with third parties in connection with the development, operation and enhancements
to our platform and products and the provision of our services. For example, we may partner with additional Bitcoin custody or service
providers to expand the reach of our services or increase resilience of our network, or we may partner with other companies to provide
new products or services such as a credit card or savings product. Identifying strategic relationships with third parties, and negotiating
and documenting relationships with them may be time-consuming and complex and may distract management. Moreover, we may be delayed, or
not be successful, in achieving the objectives that we anticipate as a result of such strategic relationships. In evaluating counterparties
in connection with partnerships, collaborations, joint ventures or strategic alliances, we consider a wide range of economic, legal and
regulatory criteria depending on the nature of such relationship, including the counterparties’ reputation, operating results and
financial condition, operational ability to satisfy our and our customers’ needs in a timely manner, efficiency and reliability
of systems, certifications costs to us or to our customers, and licensure and compliance status. Despite this evaluation, third parties
may still not meet our or our customers’ needs which may adversely affect our ability to deliver products and services to customers,
may adversely impact our business, operating results, and financial condition. Counterparties to any strategic relationship may have economic
or business interests or goals