Fold Holdings Slumps 7% on Delay in Bitcoin Rewards Credit Card

3 months ago 7

The stock has lost more than 50% of its value since coming public earlier this year in a SPAC deal.

Jun 30, 2025, 4:52 p.m.

Fold Holdings (FLD) notified customers early Monday afternoon of a delay in the rollout of its Fold Bitcoin Credit Card.

Shares quickly slumped more than 7% on the news.

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"A key infrastructure partner unexpectedly exited the credit card business, disrupting our planned rollout," said Fold in an email to customers. "As a result, the launch of the Fold Bitcoin Credit Card is delayed as we transition to a new partner better aligned with out long-term roadmap."

Fold came public at around $10 per share in February this year, but quickly slumped lower, bottoming in mid-April at $2.51. Shares are now changing hands at $4.25.

Stephen Alpher

Stephen is CoinDesk's managing editor for Markets. He previously served as managing editor at Seeking Alpha. A native of suburban Washington, D.C., Stephen went to the University of Pennsylvania's Wharton School, majoring in finance. He holds BTC above CoinDesk’s disclosure threshold of $1,000.