Fold retires $66M debt, frees 521 BTC collateral

Fold, a publicly traded Bitcoin financial services company, has retired $66.3 million in convertible debt, which eliminates the risk of future share dilution and simplifies its balance sheet. Concurrently, the company released 521 Bitcoin (BTC) that was pledged as collateral against these notes, making the holdings available for corporate use. This restructuring provides Fold with greater operational flexibility to support growth initiatives, notably the launch of a consumer-targeted Bitcoin rewards credit card. Founded in 2019, Fold went public via a SPAC merger in February 2025, though its shares have since declined significantly. The company competes in the growing crypto rewards space against rivals like Coinbase, Nexo, and others offering crypto-linked cards.

(Source：Cointelegraph)