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Fold Holdings Slumps 7% on Delay in Bitcoin Rewards Credit Card
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.
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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.
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Bitcoin claws back to $70,000 on cooling inflation after $8.7 billion wipeout
Despite the price recovery, the Crypto Fear & Greed Index remains in “extreme fear,” indicating underlying market anxiety.
What to know:
- Bitcoin’s price recovered above $70,000 after a drop, driven by cooler-than-expected U.S. inflation data and increased risk appetite.
- Despite the price recovery, the Crypto Fear & Greed Index remains in “extreme fear,” indicating underlying market anxiety.
- $8.7 billion in bitcoin losses were realized in the last week, potentially signaling a capitulation event and a shift of supply to stronger hands.
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