Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 348

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 348
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 many of these companies suffered a combination of reputational damage, bankruptcy, litigation, and fines. Throughout our existence, Fold has been focused on ensuring the safety and security of our customer assets while also complying with regulatory guidance relevant to our business. We believe that a solid trust foundation is critical for continued user adoption and in building a positive brand image, both of which are crucial for our long -termsuccess. In addition to our core operating business, Fold has adopted a bitcoin treasury strategy that aligns our corporate goals with the products we offer to our customers. As of September 30, 2024, Fold has accumulated more than 1,103 bitcoin in our treasury, and we plan to continue to accumulate bitcoin over time. We view our bitcoin holdings as a long -termstrategic investment and not as a trading asset. 214 Recent developments In July 2024, we entered into a definitive agreement providing for a proposed business combination with FTAC Emerald Acquisition Corp. (OTCQB: FLDD) (“FTAC Emerald”), a publicly -tradedspecial purpose acquisition company, that will result in Fold becoming a publicly -listedcompany. Upon the closing of the proposed transaction, the combined company intends to remain listed on Nasdaq under the ticker FLD. From January 1, 2024, to September 30, 2024 the Company entered into SAFEs with various investors with aggregate proceeds of $71.1 million. In July 2024, we released a new rewards program for ACH bill payments, a feature that we believe currently has limited competition in the financial payments industry. This program provides eligible users the ability to earn up to 1.5% back on their mortgage, rent, or other bill payments. The amount of ACH payments eligible for rewards are tied directly to spending volumes elsewhere in the Fold ecosystem — for example, by spending $1,000 to purchase bitcoin on Fold, a user can earn rewards on up to $1,000 in ACH payments. This feature has been sought after by our existing user base for some time, and we expect it to drive increased volumes across all forms of eligible spend on our platform. In September 2024, one of our Bitcoin Service Providers, BitGo, began supporting users from the state of Texas. Prior to this, neither of Fold’s Bitcoin Service Providers supported Texas users. Fold was therefore able to provide our Texas users with access to our bitcoin exchange product beginning in September 2024. In October 2024 we added the ability for eligible users