TechFlow reports that on June 10, according to GlobeNewswire, Fold Holdings (NASDAQ: FLD), a Bitcoin financial services company, announced the completion of a series of capital transactions to strengthen its balance sheet. Fold sold approximately $45 million worth of Bitcoin at an average price of roughly $71,000 per BTC, repaid $20 million in Bitcoin-secured debt, and allocated the remaining $25 million in unrestricted cash toward business growth.
Following these transactions, the company has eliminated all secured debt, enhanced liquidity, improved monthly net cash flow, and retained a meaningful Bitcoin reserve. Will Reeves, CEO of Fold, stated that this move aims to reduce financing risk and ensure short-term market volatility does not impact the execution of the company’s product roadmap.
