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Fold Holdings shared that its sales dropped 44% from last year due to fewer customers.

ResultsRead the original at Benzinga
Bad for FLD

Fold launched balance products, and thousands of customers activated them as custody and trading sales rose 270%. But total sales fell 44% to $4.2 million, and the new products have not yet shown they can replace lost sales.

FLD · Fold Holdings

AI read · Bad for FLD

The AI's read

The new balance products give Fold another way to earn from customers, and thousands have activated them. But those products are still early, and lower customer activity cut sales sharply. Lower costs and more time to repay debt help, but the report does not show that new products can yet replace the lost sales.

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