Good day, everyone, and welcome to the Fold Holdings annual meeting. Now I'll turn the call over to your host, Will Reeves, Company CEO and Chairman of the Board. Please go ahead, Will.
Good afternoon, everyone, and welcome to the 2026 annual stockholders meeting of Fold Holdings, Inc. I'm Will Reeves, CEO and Chairman of the Board of Fold, and it's my pleasure to welcome you here today for this meeting. We're excited to be hosting our virtual meeting, which allows us to be more inclusive and reach a greater number of our stockholders. We will conduct the business portion of our meeting first and answer questions at the end of the meeting. It's now 12:00 P.M. Eastern Time on May 19, 2026, and this meeting is officially called to order. Now I would like to introduce the other members of the board.
First, we have our two Class I directors who are up for re-election, Bracebridge H. Young Jr., who has served as a director since February 2025, and Andrew Hohns, who has served as a director since December 2021. We have Jonathan Kirkwood, who has served as a director since February 2025. He's a Class II director, as am I. We also have our Class III directors, Erez Simha, Lesley Goldwasser, and Kirstin Hill, all of whom have served as directo rs since February 2025. I would also like to introduce Fold's corporate secretary, Audrey Bartosh, who will serve as the secretary of the meeting today. I will turn to her with respect to any procedural issue, which may arise, Audrey is also serving as our inspector of election, she has taken the oath of inspector of election.
We are also joined here today by representatives from our independent auditors, CBIZ CPAs P.C. They will be available during the answer and question session after the meeting to respond to any appropriate questions. After the formal meeting has been adjourned, we will provide time for general questions. Only validated stockholders may ask questions in the designated field on the web portal. Out of consideration for others, please limit yourself to one question. Please note that this meeting is being recorded. However, no one attending via the webcast or telephone is permitted to use any audio recording device. The board of directors fixed March 24th, 2026 as the record date for determining stockholders entitled to vote at this meeting.
An affidavit has been delivered attesting to the fact that the records for this meeting were mailed on or about April 8, 2026 to all stockholders as of the record date and will be incorporated into the minutes of this meeting. The stockholder list shows that as of the record date, there were 50 million 218,521 shares of common stock outstanding and entitled to vote at this meeting. We are informed by the inspector of election that there are represented in person or by proxy shares of common stock representing at least 50% of the voting power on the record date. A quorum is present for the purposes of transacting business. I'll hand it over to Audrey now.
Thanks. Now I will present the matters to be voted upon. Proposal 1 is the election of our Class I directors, Bracebridge Young Jr. and Andrew Hohns, for election as directors to hold office until the 2029 annual meeting of stockholders or until their successors are duly elected and qualified. Proposal 2 is ratification of the appointment of the company's independent auditors, CBIZ CPAs P.C., for the fiscal year ending December 31st, 2026.
Okay. It is now 12:04 P.M. Eastern Time on May 19th, 2026, and the polls are now open. Any stockholder who hasn't yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have sent in their proxies or voted via telephone or internet and do not want to change their vote do not need to take any further action. I'll pause for voting. Now that everyone has had the opportunity to vote, I now declare the polls for the 2026 annual stockholder meeting closed.
Thank you. The preliminary vote report shows that the nominees for election to the board as Class I directors have been duly elected and the appointment of our independent auditors has been ratified. We will be reporting the final results in a Form 8-K to be filed within four business days. With that, I turn the meeting back over to Will.
Thank you, Audrey. There being no further business to come before the meeting, the 2026 annual meeting of stockholders of Fold Holdings, Inc. is now adjourned. Now I will give a brief presentation followed by our question and answer session. Thanks everyone again for joining today and being an engaged stockholder. I think this was a very seminal year for Fold. After many years of building the company, we listed on the Nasdaq in early 2025 and began the transition into becoming 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. The year also tested the industry. Bitcoin markets slowed materially with lower trading activity and weaker overall consumer engagement across the sector.
Nearly every company in the space felt the impact. So did we. Even in that environment, we continued to grow, launch new products, expand our infrastructure, and position the company for the next phase. The work we did this year laid the foundation for what we believe will be a much larger opportunity ahead. We focused, we fortified, and most importantly, we built. We launched the Fold Bitcoin Credit Card. We introduced Fold Business. We expanded the Fold Bitcoin Gift Card into national retail distribution. We completed nationwide Bitcoin coverage through federally regulated trust infrastructure, and we simplified our balance sheet while continuing to invest in the products and infrastructure we believe position Fold for a much larger future. Perhaps most importantly, we stopped thinking of Fold as simply a Bitcoin rewards company.
Instead, we reimagined Fold much more broadly and started building a financial platform for the Bitcoin era. We believe the opportunity in front of us is much larger than a niche crypto app or rewards product. There is a generational change happening in how people think about money, saving, and long-term financial security. People want ownership. People want transparency. They want products that help them build equity instead of just transactions and activity. Increasingly, people want Bitcoin to be part of that future. That is the world Fold is being built for. A single platform where individuals, families, and businesses can save, spend, earn rewards, use credit, pay bills, and eventually manage much more of their financial life. We're not building a speculative trading app.
We're building products around saving, rewards, and everyday financial life, and you can already see that taking shape. Today, Fold has more than 80,000 verified accounts and hundreds of thousands of rewards accounts and processes nearly $1 billion in annual transaction volume. The credit card is live with a large wait list, and we are seeing customers using Fold more deeply across the platform. I want to be clear, the products launched this year are just the foundation and only the beginning. Behind the scenes, we spent the last year rebuil ding the infrastructure needed to scale this business much larger. We rebuilt our credit infrastructure with Stripe and Visa. We upgraded banking and custody infrastructure. We strengthened compliance and operations. We expanded key partnerships, and we rebuilt the company around speed, execution, and long-term scale.
Now the focus shifts to scaling. This summer will be an important moment for Fold. Over the coming months, we plan to introduce entirely new products and experiences that we believe position Fold towards larger scale, stronger cash flows, and deeper customer relationships. These are not small updates or feature releases. They represent the next phase of Fold. A phase where the business expands beyond transaction activity alone into a broader financial platform with stronger underlying economics. I think this is where the value in Fold becomes much clearer. Historically, the market has mostly viewed Fold as a transactional Bitcoin business. What we are building today is an integrated financial platform where rewards, banking, credit, deposits, and Bitcoin all reinforce each other in one ecosystem.
A system that can outcompete our competition in the Bitcoin industry and the broader traditional financial industry. That creates a very different business over time. One with deeper engagement, stronger retention, with economies of scale, and ultimately, we believe, one with far greater long-term value. I don't believe there is another company quite like this in public markets today. A world-class team, purpose-built financial infrastructure, specialized Bitcoin and rewards technology, a Bitcoin treasury that serves as non-dilutive growth accelerant for the platform, and a company positioned at the center of what we believe is a generational transformation in how people save, spend, and build wealth. That is a rare opportunity, and we are fortunate to be backed by an incredible group of long-term investors who share the belief that Fold is still very early in its journey.
They understand that there are major catalysts ahead, from Fold's upcoming product launches and partnerships to Bitcoin's own long-term upside and adoption curve, and that alignment matters. It creates a strong foundation underneath the business as we continue to scale, and we believe it also creates opportunity for new investors who want to participate in what we believe is still the early phase. We believe Fold is positioning itself to not only become the best place to acquire Bitcoin, but one of the strongest financial rewards platforms in America overall. I believe the market is still early in understanding what Fold is becoming. The infrastructure is now in place, the product launches are accelerating, and the platform is getting stronger. The next phase of growth ahead can materially change the scale and trajectory of the company.
We still have a lot of work ahead of us. This team has never been more focused or more excited about where Fold is headed. I wanna thank our team, our partners, our customers, and our shareholders for believing in what we are building. We believe the foundati on is now in place and the next chapter of Fold is just beginning. Thank you, everyone. Let's open it up for questions.
Thanks, Will. There have been no questions submitted by stockholders.
Okay. Thank you, Audrey, and thank you everyone for attending today. That will conclude our meeting, and I thank you all for your attendance and continued support. Have a great rest of your day and a great week ahead.
That concludes our meeting today. You may now disconnect.