Folding capacity (FLD) Customers were notified earlier Monday afternoon that the launch of its folded Bitcoin credit card was delayed.
Stocks fell rapidly by more than 7%.
“Critical infrastructure partners unexpectedly exited their credit card business, disrupting the promotion we planned,” Fold said in an email to clients. “So, the launch of folding Bitcoin credit cards has been delayed as we transition to new partners with better long-term roadmap.”
Fold was publicly publicly released at a price of around $10 per share in February this year, but the decline rate dropped to $2.51 in mid-April. Stocks are now changing hands at $4.25.
