FLD on Nasdaq

Fold Holdings, Inc.

Founded in 2019, Fold is a bitcoin-focused financial services company dedicated to expanding access to bitcoin through a comprehensive suite of consumer financial products.3 From its latest annual report

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Last updated Oct 19, 2026.

Overview

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  • TickerFLD on Nasdaq1
  • IndustryFinance Services1
  • HeadquartersPhoenix, Arizona1
  • Incorporated inDE2
  • Business address2942 North 24Th Street Suite 115, #42035, Phoenix, Az 850162
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company2
  • Legal formCorporation

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Founded in 2019, Fold is a bitcoin-focused financial services company dedicated to expanding access to bitcoin through a comprehensive suite of consumer financial products. Fold was formed to build a modern financial services platform that allows consumers to accumulate, save, and use bitcoin in connection with their everyday financial lives and long-term planning.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-218.9%Net margin4
33.9%Revenue growth, 20254
-110.5%Return on equity4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Banking and Payment Revenues brought in 95% of the revenue Fold Holdings, Inc. broke down this way in fiscal 2025.

  1. Banking and Payment Revenues$30.3M495%up 29% from 2024
  2. Custody and Trading Revenues$1.5M45%up 756% from 2024
  3. Other Revenues$63.7K40%down 60% from 2024
Products and services by year
Products and services20242025
Banking and Payment Revenues$23.4M$30.3M
Custody and Trading Revenues$170.7K$1.5M
Other Revenues$161.0K$63.7K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs100¢$31.8M
  • Income tax0¢$1.5K

Out of $31.8M in revenue.4 The company lost money this year.

Financial statements

Revenue4$31.8M in 2025+34% since 2024
0$10.0M$20.0M$30.0M$40.0M2024: $23.8M$23.8M20242025: $31.8M$31.8M2025+34%
Operating income56-$2.9M in 2024+64% since 2022
-$4.0M-$3.0M-$2.0M-$1.0M02022: -$1.8M-$1.8M20222023: -$3.7M-$3.7M2023+110%2024: -$2.9M-$2.9M2024−22%
Net income564-$69.6M in 2025
-$80.0M-$60.0M-$40.0M-$20.0M0$20.0M2022: $1.1M$1.1M20222023: $4.4M$4.4M2023+298%2024: -$65.1M-$65.1M20242025: -$69.6M-$69.6M2025+7%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Revenues, net$31.8M$23.8M
Banking and payment costs$28.7M$22.5M
Custody and trading costs$1.0M$228.1K
Compensation and benefits$17.7M$3.2M
Marketing expenses$1.7M$493.9K
Professional fees$5.4M$1.9M
Amortization expense$558.0K$292.3K
(Gain) Loss on customer rewards liability-$798.5K$5.2M
(Gain) loss on digital assets - rewards treasury$394.3K-$5.6M
Other selling, general and administrative expenses$4.9M$1.4M
Total operating expenses$59.5M$29.6M
Operating loss-$27.7M-$5.8M
Gain (loss) on digital assets - investment treasury-$9.2M$29.2M
Change in fair value of SAFEs-$7.2M-$88.4M
Change in fair value of convertible note-$928.1K$0
Convertible note issuance costs and fees-$9.6M$0
Loss on extinguishment of debt-$9.6M$0
Interest expense-$5.7M-$234.0K
Other income$394.8K$91.8K
Other expense, net-$41.9M-$59.3M
Net loss before income taxes-$69.6M-$65.1M
Income tax expense (benefit)$1.5K$7.4K
Net loss-$69.6M-$65.1M
Basic-$1.65-$11.15
Diluted-$1.65-$11.15
Basic42.2M shares5.8M shares
Diluted42.2M shares5.8M shares

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Leadership

Who has led Fold Holdings, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Bracebridge H. Young Jr.2021

President

  1. Bracebridge H. Young Jr.2021

Chief financial officer

  1. Douglas Listman2021
  2. Wolfe Repass2025–now
2025
Board members and other officers (12)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Chief Operating OfficerMatt McManus named Sep 17, 202626
  • Chief Executive OfficerWill Reeves named Sep 19, 2025 to Sep 17, 202626
  • DirectorKristin Hill named Sep 19, 202527

Former names

  • FTAC Emerald Acquisition Corp.Nov 8, 2021 to Feb 13, 20252
  • Emerald ESG Acquisition CorpOct 21, 2021 to Oct 21, 20212

Timeline

  1. Dec 15, 2021New chief executive Bracebridge H. Young Jr. becomes CEO11

Filings

455 filings to the SEC since October 2021: 5 annual reports, 14 quarterly reports, 65 major events, 126 insider forms, 37 large holders, 2 private raises, 206 other. The latest 20:

  1. Oct 5, 20264 EDGAR
  2. Oct 5, 20264 EDGAR
  3. Oct 5, 20264 EDGAR
  4. Oct 2, 2026144 EDGAR
  5. Oct 2, 2026144 EDGAR
  6. Oct 2, 2026144 EDGAR
  7. Sep 29, 2026424B3 PROSPECTUS EDGAR
  8. Sep 28, 2026EFFECT EDGAR
  9. Sep 18, 2026S-1 REGISTRATION STATEMENT EDGAR
  10. Sep 18, 20264/A EDGAR
  11. Sep 17, 2026D EDGAR
  12. Sep 14, 2026DEF 14A PROXY STATEMENT EDGAR
  13. Sep 11, 20264 EDGAR
  14. Sep 8, 2026424B3 EDGAR
  15. Sep 8, 20268-K EDGAR
  16. Sep 3, 20264 EDGAR
  17. Sep 3, 20264 EDGAR
  18. Sep 3, 20264 EDGAR
  19. Sep 2, 2026144 EDGAR
  20. Sep 2, 2026144 EDGAR

The 455 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

64 open-market trades by officers, directors and large owners since October 2021: 12 buys and 52 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 11, 2026Young Bracebridge H JrDirectorBuy20,000$0.55$11.0KForm 4
Sep 11, 2026Young Bracebridge H JrDirectorBuy20,000$0.55$11.0KForm 4
Sep 2, 2026Dickman Thomas JChief Technology OfficerSale6$0.46$3Form 4
Sep 2, 2026Reeves William Brian PoppicChief Executive OfficerSale5,781$0.46$2.7KForm 4
Sep 2, 2026Repass WolfeChief Financial OfficerSale1,342$0.46$617Form 4
Aug 25, 2026Reeves William Brian PoppicChief Executive OfficerSale9,427$0.50$4.7KForm 4
Aug 24, 2026Reeves William Brian PoppicChief Executive OfficerSale8,905$0.48$4.3KForm 4
Aug 21, 2026Reeves William Brian PoppicChief Executive OfficerSale10,045$0.49$4.9KForm 4
Aug 20, 2026Reeves William Brian PoppicChief Executive OfficerSale8,911$0.48$4.3KForm 4
Aug 19, 2026Reeves William Brian PoppicChief Executive OfficerSale9,480$0.45$4.3KForm 4
Aug 18, 2026Repass WolfeChief Financial OfficerSale2,877$0.45$1.3KForm 4
Aug 18, 2026Reeves William Brian PoppicChief Executive OfficerSale9,619$0.45$4.3KForm 4
Aug 17, 2026Dickman Thomas JChief Technology OfficerSale2,884$0.46$1.3KForm 4
Aug 3, 2026Repass WolfeChief Financial OfficerSale1,180$0.47$555Form 4
Aug 3, 2026Dickman Thomas JChief Technology OfficerSale5$0.47$2Form 4
Aug 3, 2026Reeves William Brian PoppicChief Executive OfficerSale5,082$0.47$2.4KForm 4
Jul 22, 2026McManus MattChief Operating OfficerSale2,109$0.45$949Form 4
Jul 2, 2026Dickman Thomas JChief Technology OfficerSale5$0.49$2Form 4
Jul 2, 2026Reeves William Brian PoppicChief Executive OfficerSale4,868$0.49$2.4KForm 4
Jul 2, 2026Repass WolfeChief Financial OfficerSale1,131$0.49$554Form 4

All 64 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Sep 17, 2026Filed a private offering of equity Form D: $25 million offered in all Form D
  2. Sep 5, 2025Raised $157,625 in a private offering of equity Form D: $250 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 50. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Vanguard Capital Management LLC1,275,989$578.0K0.0%−463,675
Blue Owl Capital Holdings LP856,632$385.5K0.1%No change
Aqr Capital Management LLC203,968$92.5K0.0%+87,718
Geode Capital Management, LLC153,675$69.7K0.0%−149,261
Jane Street Group, LLC131,624$59.7K0.0%New
Baird Financial Group, Inc.105,150$47.7K0.0%No change
BlackRock, Inc.96,517$43.8K0.0%+929
Union Square Park Capital Management, LLC89,130$40.4K0.0%No change
UBS Group AG84,601$38.3K0.0%+68,095
Qube Research & Technologies Ltd80,485$36.5K0.0%New
Vanguard Fiduciary Trust Co74,059$33.5K0.0%−30,155
Mariner, LLC71,659$32.5K0.0%+3,790
State Street Corp57,800$26.2K0.0%−29,500
Cypress Point Wealth Management, LLC53,604$24.3K0.0%No change
Tower Research Capital LLC (TRC)44,863$20.3K0.0%+38,145
Northern Trust Corp40,935$18.6K0.0%−21,813
XTX Topco Ltd35,043$15.9K0.0%New
Susquehanna International Group, Llp30,968$14.0K0.0%+14,090
Marex Group Ltd22,500$10.2K0.0%New
Ieq Capital, LLC20,609$9.3K0.0%New
Boussard & Gavaudan Gestion Sas72,260$7.6K0.0%New
Fmr LLC12,505$5.7K0.0%−12,107
Osaic Holdings, Inc.11,951$5.4K0.0%−203
Vanguard Personalized Indexing Management, LLC11,243$5.1K0.0%New
Simplex Trading, LLC5,167$2.3K0.0%−235

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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