Fold cashes out $45M in Bitcoin, eliminates debt

Fold (@fold_app) has sold $45 million worth of Bitcoin from its treasury. The Nasdaq-listed Bitcoin financial services company (FLD) said it sold coins at an average price of $71,000, used the proceeds to fully repay $20 million of secured debt, and set aside $25 million in cash to fund growth. CEO Will Reeves framed the move as a sign of conviction rather than a pullback. The company plans to deploy the cash toward expanding the Fold Credit Card and rolling out new products in the coming months. Fold still holds about 826 bitcoin, according to BitcoinTreasuries—roughly half of what it held at the start of the year.