Recognizing Fold's potential, Thesis* spun it off as an independent company, appointing Will Reeves as CEO to lead its growth.

Thesis* celebrates a significant milestone as Fold Holdings Inc. becomes the first Bitcoin financial services company to go public on the Nasdaq under the ticker symbols FLD and FLDDW.

Matt Luongo, Founder and CEO of Thesis*, emphasized that Fold's listing validates their venture studio model, which is dedicated to developing Bitcoin-native financial tools.

In 2024, Fold merged with FTAC Emerald Acquisition Corp., a SPAC, to secure the necessary capital for scaling its operations, ultimately leading to its public listing.

After significant growth, Fold secured a $13 million Series A investment in 2021, led by Craft Ventures, which validated Thesis*'s approach to nurturing high-potential Bitcoin startups.

Fold, incubated by Thesis*, is a leading Bitcoin rewards platform that allows users to earn, save, and spend Bitcoin through everyday purchases using Bitcoin-native infrastructure.

Through partnerships with payment networks like Visa, Fold offers users the ability to earn satoshis on transactions, enabling Bitcoin earnings on credit card purchases and gift card transactions.

Thesis* initiated the Fold project in 2014 to address challenges in Bitcoin adoption, transitioning to a model that rewards Bitcoin accumulation through everyday spending.

Fold's public debut is seen as a potential catalyst for broader Bitcoin adoption in mainstream financial markets, according to CEO Will Reeves.

Will Reeves emphasized that going public reflects the increasing importance of Bitcoin in the global financial system and the vision of open and inclusive finance.

As Fold continues to develop new Bitcoin-native financial solutions like Mezo for lending and borrowing, its historic Nasdaq listing is expected to promote broader Bitcoin adoption.