Fold, a Nasdaq-listed Bitcoin financial services firm, sold 832 BTC in the first half to repay debt and support operations, sharply reducing its Bitcoin holdings to 194 BTC. The company reported a $15.6 million operating loss and a $38.8 million net loss over the same period. The combination of steep losses and a much smaller Bitcoin reserve has raised concerns that Fold may need to issue more shares or sell additional Bitcoin to sustain funding needs.