Fold (NASDAQ:FLD) held its 2026 annual stockholders meeting on May 19, with shareholders voting to re-elect two directors and ratify the company’s independent auditor for the current fiscal year.
Will Reeves, Fold Holdings’ CEO and chairman of the board, opened the virtual meeting and said the online format was intended to “be more inclusive and reach a greater number” of stockholders. The company said a quorum was present, with at least 50% of the voting power represented in person or by proxy. Fold reported that 50,218,521 shares of common stock were outstanding and entitled to vote as of the March 24, 2026 record date.
According to the preliminary vote report presented during the meeting, both director nominees were elected and the auditor appointment was ratified. The company said final voting results would be reported in a Form 8-K filing within four business days.
Reeves Highlights Public Market Transition
Following the formal business portion of the meeting, Reeves described the past year as “very seminal” for Fold, citing the company’s Nasdaq listing in early 2025 and its transition into operating as a public company.
“It was an important milestone, not just for Fold, but for the broader idea that Bitcoin native financial services can operate at scale in the public markets,” Reeves said.
Reeves acknowledged that the year was challenging for the industry, saying Bitcoin markets slowed materially amid lower trading activity and weaker consumer engagement across the sector. He said Fold was affected by those conditions but continued to grow, launch products, expand infrastructure and position itself for future growth.
Company Points to Product Expansion
Reeves said Fold launched several initiatives during the year, including the Fold Bitcoin Credit Card, Fold Business and expanded national retail distribution for the Fold Bitcoin Gift Card. He also said the company completed nationwide Bitcoin coverage through federally regulated trust infrastructure and simplified its balance sheet while continuing to invest in products and infrastructure.
Reeves said Fold is seeking to move beyond being viewed only as a Bitcoin rewards company. He described the company’s broader strategy as building “a financial platform for the Bitcoin era,” focused on saving, rewards and everyday financial activity rather than speculative trading.
According to Reeves, Fold currently has more than 80,000 verified accounts, hundreds of thousands of rewards accounts and processes nearly $1 billion in annual transaction volume. He also said the company’s credit card is live and has a large wait list.
Infrastructure and Growth Plans
Reeves said Fold spent the past year rebuilding infrastructure intended to support larger-scale operations. That included rebuilding credit infrastructure with Stripe and Visa, upgrading banking and custody infrastructure, strengthening compliance and operations, expanding partnerships and reorganizing the company around execution and scale.
Looking ahead, Reeves said the company plans to introduce “entirely new products and experiences” over the coming months. He said these planned launches are intended to move Fold beyond transaction activity alone and toward a broader financial platform with stronger underlying economics.
“Historically, the market has mostly viewed Fold as a transactional Bitcoin business,” Reeves said. “What we are building today is an integrated financial platform where rewards, banking, credit, deposits, and Bitcoin all reinforce each other in one ecosystem.”
Reeves also pointed to Fold’s Bitcoin treasury, which he described as a “non-dilutive growth accelerant for the platform,” and said the company believes it is positioned at the center of a long-term shift in how people save, spend and build wealth.
No stockholder questions were submitted during the question-and-answer portion of the meeting, and Reeves concluded by thanking the company’s team, partners, customers and shareholders for their support.
About Fold (NASDAQ:FLD)
Fold, trading under the ticker FLD on the NASDAQ, is a financial technology company specializing in bitcoin rewards and cryptocurrency-based consumer products. The company’s core offering enables users to earn bitcoin on everyday purchases through a prepaid Visa debit card, converting traditional currency transactions into bitcoin rewards at no extra cost. By partnering with major payment networks and merchant platforms, Fold aims to bridge the gap between mainstream spending and digital asset adoption.
Beyond the debit card, Fold offers a mobile application that integrates with the Bitcoin Lightning Network to facilitate faster and more cost-efficient transactions.
