Fold Reports $69.6 Million Net Loss as It Pushes Bitcoin Credit Card Expansion

Fold said revenue rose 34% to $31.8 million in 2025 as transaction volume and accounts increased, while a one-time charge tied to partial convertible debt settlement weighed on results.

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Summary

Fold reported a 2025 net loss of $69.6 million while revenue increased 34% to $31.8 million. Annual transaction volume rose 46% to $960 million and total accounts reached 84,000, indicating continued user and payment activity growth. The company also recorded a $9.6 million one-time charge related to a partial convertible debt settlement, which affected its annual results as it continued pursuing expansion tied to its bitcoin rewards credit card strategy.

Terms & Concepts
  • Bitcoin rewards credit card: A payment card that offers rewards linked to Bitcoin rather than traditional points, giving users crypto exposure through everyday spending.
  • Convertible debt: Debt that can be converted into equity under specified terms, often used by companies as a financing tool.