Fold (NASDAQ:FLD) reported a difficult first quarter of fiscal 2026, with management citing a broad pullback in Bitcoin prices and related pressure on customer activity across the industry.
On the company’s May 12 earnings call, Chairman and CEO Will Reeves said lower Bitcoin prices weighed on transaction volumes, trading activity and consumer engagement. CFO Wolfe Repass said Bitcoin had fallen nearly 50% from its October all-time high by February, prompting consumers to “risk adjust their spending and investment behaviors.”
