Fold Holdings terminates vice president of risk and compliance

Fold Holdings, Inc. (NASDAQ:FLD), a company with a market capitalization of $196 million, disclosed Wednesday that the employment of Nicolleta Goncalves, vice president of risk and compliance, was terminated on Friday. The announcement was made in a statement based on a filing with the Securities and Exchange Commission.

Goncalves had been serving as vice president of risk and compliance prior to her termination. The company did not provide additional details regarding the reason for the termination or information on a replacement. According to InvestingPro data, Fold Holdings currently shows weak financial health metrics, with a concerning -275% gross profit margin in the last twelve months.

Fold Holdings is incorporated in Delaware and is listed on the Nasdaq Capital Market. The company’s common stock trades under the ticker FLD, and its warrants are listed as FLDDW.

The information in this article is based on a press release statement included in a SEC filing.

In other recent news, Fold Holdings, Inc. announced it has secured a $250 million equity purchase facility, with the funds primarily intended to expand its bitcoin treasury holdings. Before utilizing this facility, Fold Holdings must file a registration statement with the Securities and Exchange Commission, which Cohen & Company Capital Markets facilitated as the exclusive placement agent. Additionally, Northland Securities initiated coverage on Fold Holdings, assigning an Outperform rating and setting a price target of $10.00, citing the company’s integration of Bitcoin into consumer financial products as a key factor. Fold Holdings has developed a platform that allows customers to engage with Bitcoin in various ways, including buying, selling, earning, saving, and spending. The company has also appointed Matthew McManus as its new Chief Operating Officer to drive growth and enhance operational performance. McManus brings extensive experience from his previous roles at Unchained Capital, Twitter, Capital One (NYSE:COF), and Marriott. Fold Holdings continues to expand its market presence with products like the Fold App and Fold Card, aiming to integrate bitcoin into everyday financial experiences.

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