secwatch.observer — SEC 8-K summary
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Issuer:     Fold Holdings, Inc. (FLD)
CIK:        0001889123
Form:       8-K/A
Filed at:   2025-03-31T23:59:59+00:00
Accession:  0001013762-25-004361
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fold Holdings files audited 2024 financials: net loss $65.1M, revenue $23.8M
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- Net loss of $65.1M for 2024 vs $7.2M in 2023; accumulated deficit reaches $101.3M.
- Revenue rose to $23.8M from $21.5M YoY, driven by bitcoin rewards and card services.
- Total assets surged to $125.7M from $8.7M, primarily from $93.6M in bitcoin investment treasury.
- SAFE liability of $171.1M converted to equity upon merger close on Feb 14, 2025 (value $68.3M bitcoin).
- Convertible note of $20M due in three years; cash and equivalents of $18.3M as of Dec 31, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1889123/000101376225004361/0001013762-25-004361-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1889123/000101376225004361/ea0236228-8ka2_foldhold.htm
  HTML page:      https://secwatch.observer/filing/0001013762-25-004361

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer