Company: FLDDW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001013762-25-004107
Chunk: 344

Company: Fold Holdings, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1A
Chunk 344
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 and the audit
committee has the responsibility to consider and discuss our major financial risk exposures and the steps management will take to monitor
and control such exposures, including guidelines and policies to govern the process by which risk assessment and management is undertaken.
The audit committee also monitors compliance with legal and regulatory requirements. Our compensation committee assesses and monitors
whether our compensation plans, policies and programs comply with applicable legal and regulatory requirements.

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Board Committees

The Board has established an audit committee, a compensation committee
and a nominating and corporate governance committee. The Board has adopted a charter for each of these committees, which comply with the
applicable requirements of current Nasdaq rules. In addition, from time to time, special committees may be established under the direction
of the Board when the board deems it necessary or advisable to address specific issues. We intend to comply with future requirements to
the extent applicable to us. Copies of the charters for each committee are available on the investor relations portion of our website,
https://foldapp.com/.

Audit Committee

Our audit committee consists of Mr. Simha, Ms. Goldwasser and Ms. Hill.
The Board has determined that each of the members of the audit committee satisfies the independence requirements of Nasdaq listing rules and
Rule 10A-3 under the Exchange Act. Each member of the audit committee can read and understand fundamental financial statements
in accordance with applicable audit committee requirements. In arriving at this determination, the Board examined each audit committee
member’s scope of experience and the nature of their prior and/or current employment. Mr. Simha serves as the chair of the audit
committee. The Board has determined that Mr. Simha qualifies as an audit committee financial expert within the meaning of SEC regulations
and meets the financial sophistication requirements of Nasdaq listing rules. In making this determination, the Board considered Mr. Simha’s
formal education and previous experience in financial roles. Both our independent registered public accounting firm and management periodically
meet privately with the audit committee.

The functions of the audit committee include, among other things:

●evaluating the performance, independence, compensation, retention,
oversight and qualifications of our independent auditors and determining whether to retain our existing independent auditors or engage
new independent auditors;

●reviewing our financial reporting processes and disclosure
controls;

●reviewing and approving the engagement of our independent
auditors to perform audit services and any permissible non-audit services;

●reviewing the adequacy and effectiveness of our internal control