Company: FLDDW
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001213900-25-068264
Chunk: 346

Company: Fold Holdings, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 346
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 |     | Level 3 |             |
| Assets:                    |     |                         |             |     |         |             |     |         |   |     |         |             |
| Digital assets             |     | $                       | 102,138,351 |     | $       | 102,138,351 |     | $       | — |     | $       |           — |
| Total assets               |     | $                       | 102,138,351 |     | $       | 102,138,351 |     | $       | — |     | $       |           — |
| Liabilities:               |     |                         |             |     |         |             |     |         |   |     |         |             |
| Customer rewards liability |     | $                       |   8,569,651 |     | $       |           — |     | $       | — |     | $       |   8,569,651 |
| SAFEs                      |     |                         | 171,080,533 |     |         |           — |     |         | — |     |         | 171,080,533 |
| Total liabilities          |     | $                       | 179,650,184 |     | $       |           — |     | $       | — |     | $       | 179,650,184 |

The carrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivables, accounts payable and accrued liabilities, and deferred revenue approximate their fair values due to their short-term nature.

The fair value of our digital assets was determined using the Level 1 input of bitcoin prices in the market we determined to be the principal market as of March 31, 2025 and December 31, 2024.

Customer rewards liability

The customer reward liability is classified as a Level 3 financial instrument within the fair value hierarchy primarily due to the reward forfeiture rate applied to the value of the bitcoin obligation, which is an unobservable input to the fair value measurement. The Company has determined the bitcoin price based on its value in the market we determined to be the principal market for the related digital asset as of March 31, 2025 and December 31, 2024, which is considered a Level 1 input. The forfeiture rate is then applied to reflect an estimated breakage rate of rewards that have been forfeited based on the contractual terms and conditions of our Rewards Program and historical trends of forfeiture rates on