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PHOENIX - Fold Holdings, Inc. (NASDAQ:FLD), a leader in bitcoin financial services, has announced the appointment of Matthew McManus as its new Chief Operating Officer as of April 21, 2025. The announcement comes as the company’s stock shows significant volatility, having surged 34% in the past week despite being down 57% year-to-date. According to InvestingPro analysis, the company is currently trading near its Fair Value. McManus, a seasoned executive with a rich background in product strategy and operational leadership, will be taking the reins to drive the company’s growth strategy and enhance its operational performance.
McManus comes to Fold with a wealth of experience, having served as Chief Product Officer at Unchained Capital, Inc., where he was responsible for product strategy and execution. His career also includes pivotal roles at major companies such as Twitter, Capital One, and Marriott, contributing to his deep expertise in scaling high-performance teams and driving innovation in the fintech sector. The appointment comes at a crucial time, as Fold faces operational challenges with an EBITDA of -$2.89 million in the last twelve months.
Will Reeves, CEO of Fold, expressed enthusiasm about McManus’s appointment, citing his alignment with Fold’s strategic vision and his proven track record in operational excellence as critical to the company’s future success. Reeves highlighted McManus’s role in propelling Fold to maintain its leadership in the bitcoin financial space and in providing accessible bitcoin solutions to consumers.
Fold, recognized as the first publicly traded bitcoin financial services company, has been integrating bitcoin into everyday financial experiences. The company boasts a significant bitcoin treasury and offers products such as the Fold App and Fold Card, which bridge traditional finance with the emerging bitcoin economy.
This move comes as Fold continues to expand its market presence and reinforce its position within the rapidly evolving cryptocurrency landscape. The company’s strategic appointment of McManus is aimed at bolstering its operational capabilities to navigate the complexities of the bitcoin financial revolution. InvestingPro data reveals the company’s overall financial health score is currently rated as Weak, with analysts maintaining a consensus hold rating and a price target of $7. Get access to 8 more exclusive ProTips and comprehensive financial analysis with InvestingPro.
The information in this article is based on a press release statement.
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