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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Financial Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

Financial assets and liabilities that are measured at fair value on a recurring basis are classified as Level 1, Level 2, and Level 3 as follows:

		As of September 30, 2025
		Total				Level 1				Level 2				Level 3
Assets:
Digital assets		$	179,688,082			$	179,688,082			$	-			$	-
Total assets		$	179,688,082			$	179,688,082			$	-			$	-
Liabilities:
Customer rewards liability		$	9,295,587			$	-			$	-			$	9,295,587
March 2025 Investor Note			60,750,183				-				-				60,750,183
Total liabilities		$	70,045,770			$	-			$	-			$	70,045,770

		As of December 31, 2024
		Total			Level 1				Level 2				Level 3
Assets:
Digital assets		$	102,138,351			$	102,138,351			$	-			$	-
Total assets		$	102,138,351			$	102,138,351			$	-			$	-
Liabilities:
Customer rewards liability		$	8,569,651			$	-			$	-			$	8,569,651
SAFEs			171,080,533				-				-				171,080,533
Total liabilities		$	179,650,184			$	-			$	-			$	179,650,184

Summary of Significant Inputs which the Fair Value Measurements Associated with Convertible Note

The following table summarizes the significant inputs which the fair value measurements associated with the convertible note was determined:

		As of September 30, 2025			As of December 31, 2024
Risk-free rate (continuously compounded)			3.64	%		-
Fold volatility (annual)			99.71	%		-
Bitcoin volatility (annual)			56.87	%		-
Note term		4.43 Years				-
Fold stock price		$	3.86			-
Bitcoin price		$	114,056.09			-
Correlation (Fold and Bitcoin)			0.4062			-
Conversion price		$	12.50			-
Dividend yield (annual)			0.00	%		-

SAFEs [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Changes in Fair Value Associated With Level 3

The following table summarizes the changes in fair value associated with Level 3 SAFE financial instruments held at the beginning or end of the periods presented:

		SAFEs
Balance at January 1, 2024		$	10,601,545
Proceeds from issuances of SAFEs			72,106,134
Change in fair value of SAFEs			59,042,901
Balance at September 30, 2024		$	141,750,580
Proceeds from issuances of SAFEs			-
Change in fair value of SAFEs			29,329,953
Balance at December 31, 2024		$	171,080,533
Proceeds from issuances of SAFEs			-
Change in fair value of SAFEs			6,503,113
Conversion of SAFEs			(177,583,646	)
Balance at September 30, 2025		$	-

Convertible Notes [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Changes in Fair Value Associated With Level 3

The following table summarizes the changes in fair value associated with Level 3 convertible note financial instruments held at the beginning or end of the periods presented:

		Convertible Note
Balance at December 31, 2024		$	-
Additions			46,279,500.00
Fair value adjustment - day one loss on issuance of debt			12,753,994.00
Fair value adjustment - change in fair value			1,716,689.00
Balance at September 30, 2025		$	60,750,183

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- Definition

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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