Fold wipes the slate clean: $45M in $BTC sold, all secured debt gone, and FLD still moonwalking 📈

Fold Holdings has eliminated every dollar of its secured debt and unlocked $25 million in fresh capital after liquidating roughly $45 million worth of Bitcoin at an average price of about $71,000 per coin. The Phoenix-based fintech, which builds consumer products that let users earn and spend Bitcoin through everyday financial services, used $20 million of the proceeds to retire its Bitcoin-collateralized obligations and earmarked the remaining $25 million for growth initiatives. "This decision reflects our conviction in Fold," CEO Will Reeves said in a statement. "We have reduced financing risk, strengthened our balance sheet, and ensured that short-term market volatility cannot stand in the way of executing our roadmap."

The restructuring drew an immediate response from investors, with shares of the Nasdaq-listed company (ticker: FLD) jumping as high as $1.60 after the opening bell, a 162% spike over Tuesday's close. As of this writing, FLD was trading at $1.10, still up more than 80% on the day. Even with the rebound, the stock remains down about 58% year-to-date and more than 78% over the past 12 months. Reeves said management views the company's Bitcoin Credit Card as one of the most significant long-term growth opportunities in its ecosystem, and that the cleaner balance sheet positions Fold to expand its cardholder base and pursue additional lending partnerships. The debt elimination also removes monthly cash interest payments, which the company said should improve its cash flow profile as new products come online.

Fold's first-quarter revenue came in at $5.6 million, a 21% decline from a year earlier, according to its most recent earnings report. Recent product launches include a Bitcoin rewards credit card, a Bitcoin gift card offering, and a business-focused service featuring "Bitcoin Bonus," which enables employers to pay out crypto bonuses to employees. The broader crypto market remains under pressure, with the 2026 drawdown driven by Bitcoin's lackluster performance weighing heavily on most altcoins, according to on-chain data. Nearly half of Bitcoin's circulating supply is currently held by long-term holders, a metric analysts often cite when assessing network resilience.

On the same day Fold made its announcement, the U.S. Bureau of Labor Statistics reported that the Consumer Price Index rose 4.2% in May from a year earlier, in line with economist expectations and marking the fastest annual pace in three years. The print reinforced expectations that the Federal Reserve will maintain a restrictive policy stance, a backdrop that has continued to pressure crypto prices. "As we approach several product launches," Reeves added, "we believe Fold is entering one of the most important growth periods in the company's history."