UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Commission File Number: 001-41168 Fold Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ | Delaware | 86-2170416 | ...

Exhibit 99.1 Fold Holdings, Inc. (NASDAQ: FLD) Announces First Quarter 2025 Results Revenue: $7.1 million, 44% YoY increase Bitcoin Treasury Holdings: 1,490 BTC, ~50% increase from Q4 2024 Launched Bitcoin Gift Card with access to network of thousands of retailers New accounts up over 300% YoY and platform volumes up 67% YoY PHOENIX – May 15, 2025 Fold Holdings, Inc. (NASDAQ: FLD) ("Fold"), the first publicly traded bitcoin financial services company, today announced financial results for the first quarter ...

Revenue: $7.1 million, 44% YoY increaseBitcoin Treasury Holdings: 1,490 BTC, ~50% increase from Q4 2024Launched Bitcoin Gift Card with access to network of thousands of retailersNew accounts up over 300% YoY and platform volumes up 67% YoY PHOENIX, May 15, 2025 (GLOBE NEWSWIRE) -- Fold Holdings, Inc. (NASDAQ: FLD) (“Fold”), the first publicly traded bitcoin financial services company, today announced financial results for the first quarter ended March 31, 2025. Financial Highlights Revenue: $7.1 million; 44 ...

PHOENIX, May 15, 2025 (GLOBE NEWSWIRE) -- Fold Holdings, Inc. (NASDAQ: FLD) ("Fold"), the first publicly traded bitcoin financial services company, is revolutionizing how consumers acquire and share bitcoin with the launch of the Fold Bitcoin Gift Card. Built with Fold's proprietary technology, this innovative new offering makes buying and gifting bitcoin as simple as purchasing a traditional gift card. For investor inquiries, please contact: Orange Group Samir Jain, CFA FoldIR@orangegroupadvisors.com Gift ...

Company Overview - Fold Holdings, Inc. is the first publicly traded bitcoin financial services company, facilitating the earning, saving, and usage of bitcoin for individuals and businesses [5] - The company currently holds over 1,485 BTC in its treasury, positioning itself at the forefront of integrating bitcoin into everyday financial experiences [5] Leadership Appointment - Matthew McManus has been appointed as Chief Operating Officer, effective April 21, 2025 [1] - In his role, McManus will lead Fold's operational strategy, focusing on growth acceleration, performance optimization, and reinforcing the company's leadership in the bitcoin financial sector [2] Executive Background - McManus has extensive experience, previously serving as Chief Product Officer at Unchained Capital, where he was responsible for product strategy and execution [3] - His background includes key roles at major brands such as Twitter, Capital One, PBS, National Geographic, and Marriott, providing him with a strong technical foundation and domain expertise [3] Strategic Vision - The CEO of Fold, Will Reeves, expressed excitement about McManus's appointment, highlighting his operational excellence and innovation experience in fintech as crucial for the company's expansion and consumer empowerment through accessible bitcoin solutions [4]

Core Viewpoint - Fold Holdings, Inc. is set to announce its first quarter earnings results for 2025 on May 15, 2025, highlighting its position as the first publicly traded bitcoin financial services company [1]. Company Overview - Fold Holdings, Inc. (NASDAQ: FLD) is recognized as the first publicly traded bitcoin financial services company, facilitating the earning, saving, and usage of bitcoin for individuals and businesses [4]. - The company holds over 1,485 BTC in its treasury, positioning itself at the forefront of integrating bitcoin into everyday financial experiences [4]. - Fold is developing innovative products such as the Fold App and Fold Card to bridge traditional finance with a bitcoin-powered future [4]. Conference Call Details - The earnings conference call will take place on May 15, 2025, at 5:00 PM Eastern Time, with a press release detailing the results to be issued prior to the call [1]. - Participants can join the call by logging in or dialing in approximately 5 minutes before the start [2]. - For phone participation, registration is required through a provided link, after which participants will receive an email with access details [3].

Financial Services and Products - Fold offers a free FDIC-insured checking account that supports direct deposits and bill payments, with the ability to receive paychecks up to three days early[33]. - Customers can earn up to 1.5% back on purchases made with the Fold Card, as well as up to 15% or more on card-linked merchant offers[34]. - Fold's rewards program allows users to earn promotional credits in bitcoin, with rewards valued as a percentage of transactions or as flat amounts of satoshis[35]. - Fold's products and services are currently available in the United States through its mobile app[31]. - Users can purchase bitcoin through various methods, including spot buys, recurring trades, direct deposits, and round-ups, enhancing user engagement[48]. - The "Auto Stack" feature allows users to set up recurring bitcoin purchases at specified intervals, promoting consistent investment behavior[48]. - Fold's pre-paid debit card is issued by Sutton Bank, providing users with a secure method to manage their funds[47]. Bitcoin Strategy and Investment - The company actively invests in and accumulates bitcoin for its treasury, believing it offers long-term value preservation compared to traditional currencies[30]. - As of December 31, 2024, Fold has accumulated more than 1,000 bitcoin in its Investment Treasury, viewing these holdings as a long-term strategic investment rather than a trading asset[81]. - The company plans to continue accumulating bitcoin over time, believing that bitcoin's price appreciation potential will provide stockholder value[81]. - Fold's bitcoin treasury strategy is designed to align corporate goals with customer offerings, viewing bitcoin as a hedge against inflation and a unique store of value[80]. - The company’s investments in Bitcoin are subject to volatile market prices, which could adversely impact its financial condition if the market value decreases significantly[211]. Customer Engagement and Demographics - Fold's core customer demographic is primarily aged between 25-54 years, with 80% having prime credit and 65% earning over $100K annually[66]. - Fold aims to serve as a key entry point for consumers to engage with bitcoin in their everyday lives[29]. - Fold aims to deepen engagement with existing and new rewards partners to drive further adoption and create mutual growth opportunities[94]. Compliance and Regulatory Environment - The company is committed to maintaining compliance with evolving regulatory environments, including anti-money laundering and sanctions laws[105]. - Customers undergo Know Your Customer (KYC) checks by both Fold and the Bitcoin Service Providers, ensuring compliance and security[42]. - The company has established a robust Customer Identification Program (CIP) to ensure accurate information regarding customer identities, enhancing security measures[103]. - The company faces risks related to regulatory changes that could impact its ability to offer products and services, particularly in the evolving landscape of the Bitcoin economy[137]. - The company is subject to extensive laws and regulations that govern financial services, privacy, and consumer protection, which may evolve and impact operations[139]. Operational Strategy and Challenges - The company has achieved customer acquisition costs of less than $10 per user, significantly lower than the industry average of over $300 per customer for traditional financial service providers[89]. - The company must continuously innovate to keep pace with rapid technological changes in the financial services market, or risk obsolescence of its products[152]. - The company expects to incur substantial costs to develop and upgrade its technical infrastructure to meet evolving industry needs[162]. - The company may face operational difficulties if it fails to effectively manage its growth and scaling back initiatives, which could adversely affect its brand and product quality[199]. - The company is limited in its ability to influence third-party partners' controls, which may pose risks to its operations and financial condition[182]. Partnerships and Collaborations - Fold partners with Fortress Trust LLC and BitGo Trust Company to provide custody and trading services for eligible customers[40]. - The company has established relationships with top offer aggregators and merchants to maximize its rewards inventory[34]. - Fold's strategic partnerships with third-party service providers, such as Marqeta, enhance its product offerings and operational capabilities[72]. Market Position and Competition - The bitcoin industry is experiencing significant growth, with Fold positioned to capitalize on expanding financial services related to bitcoin[55]. - The company operates in a highly competitive industry, facing competition from both traditional financial firms and innovative startups, which may impact its market position[147]. - Competitors may have advantages such as larger customer bases, greater resources, and the ability to offer products that the company cannot due to regulatory constraints[149]. Employee and Talent Management - As of December 31, 2024, the company employed a total of 28 full-time employees and various part-time contractors[120]. - The company is committed to attracting and retaining talent through competitive compensation, benefits, and a robust training curriculum[123]. - The company regularly reviews and updates its talent strategy, monitoring data such as turnover and diversity to implement effective programs[124]. Risks and Uncertainties - The company's operating results are significantly influenced by the volatile nature of Bitcoin, leading to fluctuations in performance from quarter to quarter[133]. - The company may face increased regulatory scrutiny and costs due to investigations by U.S. federal and state regulators and foreign regulators, which could adversely affect its business and financial condition[141]. - The complexity of regulatory environments may result in overlapping investigations and legal proceedings, adversely affecting the company's reputation and financial condition[159]. - The company faces significant risks if it cannot keep pace with rapid industry changes, which could lead to a decline in net revenue[162]. - Any material failure in maintaining necessary controls could lead to reputational harm, litigation, and significant financial losses[184]. Technology and Infrastructure - The company is dependent on the integration of its services with various operating systems and may face challenges if these systems change or degrade functionality[203]. - Continuous improvement and upgrading of information systems are complex and may not be successful, potentially impacting financial results[177]. - The company’s success relies on developing new technologies and adapting to industry changes, particularly in generative AI adoption[216]. - There is a significant dependence on third parties for technology development, which could impair business if industry developments are not effectively predicted[217]. Customer Trust and Reputation - The company must continue to attract and retain customers to avoid significant harm to its business and financial condition[195]. - Significant disruptions in products and services could lead to loss of customers and adversely affect the company's brand and reputation[174]. - The company’s brand and reputation are key assets, and any negative publicity or failure to maintain high-quality services could harm its business[213].

Core Viewpoint - Fold Holdings, Inc. has significantly increased its bitcoin treasury by acquiring an additional 475 bitcoin, bringing its total holdings to over 1,485 BTC, which positions the company among the top ten U.S. public companies with the largest bitcoin treasuries [1][2]. Company Strategy - The acquisition of bitcoin was made through the issuance of a convertible note with a conversion price of $12.50 per share, representing a premium of over 100% compared to the closing price on March 5, 2025 [1]. - The company aims to leverage its bitcoin treasury to enhance shareholder value and support the development of bitcoin-native financial products, thereby bridging traditional finance and the bitcoin economy [2][3]. Market Position - Fold is recognized as the first publicly traded bitcoin financial services company, focusing on integrating bitcoin into everyday financial experiences through innovative products like the Fold App and Fold Card [3]. - The growing global acceptance of bitcoin as a strategic reserve asset is seen as an opportunity for Fold to establish itself as a leading provider of bitcoin-powered financial services [2].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41168 FTAC EMERALD ACQUISITION CORP. (Exact Name of Registrant as Specified in Its Charter) | --- | --- | |---------------------------- ...

Financial Performance - As of June 30, 2024, the company recorded a net loss of $223,807, with general and administrative expenses amounting to $626,004 and interest income of $664,259 from investments held in the Trust Account [123]. - For the six months ended June 30, 2024, the company reported a net loss of $1,047,849, which included general and administrative expenses of $1,352,759 and interest income of $1,684,947 [124]. - As of June 30, 2024, the company had a working capital deficit of $5,365,129 [132]. - The Company incurred $14,181,568 in IPO transaction costs, including $4,973,868 in underwriting fees [130]. - The Company incurred $180,000 for administrative support services for the six months ended June 30, 2024, with $466,452 in accrued expenses as of the same date [145]. Trust Account and Investments - The company had cash, investments, and marketable securities held in the Trust Account totaling $51,511,443 as of June 30, 2024 [134]. - The Company intends to use substantially all funds held in the Trust Account, including interest earned, to complete its Business Combination, having withdrawn $337,010 for taxes during the period ended June 30, 2024 [139]. - As of June 30, 2024, 4,757,884 shares of Class A common stock are presented at redemption value as temporary equity, reflecting the potential for mandatory redemption [152]. Business Combination and Extensions - On September 19, 2023, stockholders approved an extension of the deadline for the company to complete its initial business combination from September 20, 2023, to January 19, 2024 [117]. - On January 19, 2024, stockholders approved another extension of the deadline to complete the initial business combination to December 20, 2024 [120]. - The Company has until December 20, 2024, to consummate a Business Combination, with substantial doubt raised about its ability to continue as a going concern if not completed by this date [142]. - The Company may need additional financing to complete its Business Combination or to meet obligations if a significant number of public shares are redeemed [141]. Shareholder Activity - During the September 19, 2023 meeting, holders of 9,239,192 shares of redeemable Class A common stock redeemed their shares for approximately $96,791,644 at a price of $10.4762 per share [117]. - In the January 19, 2024 meeting, holders of 10,872,266 shares of redeemable Class A common stock redeemed their shares for approximately $115,489,643 at a price of $10.6224 per share [120]. Financial Advisory and Support - The Company has engaged Cohen & Company Capital Markets for financial advisory services, with fees based on a percentage of the proceeds from the Public Offering [150]. - The underwriter earned a cash underwriting discount of $4,973,868, with a deferred underwriting discount of $8,704,270, which was waived on October 18, 2023 [148]. Financial Position and Controls - The Company has no long-term debt obligations or capital lease obligations as of the reporting date [144]. - The Company has no off-balance sheet financing arrangements as of June 30, 2024, and does not participate in transactions that create relationships with unconsolidated entities [143]. - The Company’s disclosure controls and procedures were evaluated as effective as of June 30, 2024 [156].