SCHEDULE 13G/A 0001953838-25-000003 0001953838 XXXXXXXX LIVE 1 Common stock, par value $0.0001 per share 12/31/2025 0001889123 Fold Holdings, Inc. 29103K100 2942 North 24th Street Suite 115, #42035 Phoenix AZ 85016 Rule 13d-1(c) SZOP Opportunities I LLC b DE 0 5361529 0 5361529 5361529 N 9.9 OO Please see note in Item 4(a). SZOP Opportunities Management LLC b DE 0 5361529 0 5361529 5361529 N 9.9 OO Please see note in Item 4(a). SZOP Multistrat LP b DE 0 0 0 0 0 N 0.0 PN Please see note in Item 4(a). SZOP Multistrat Management LLC b DE 0 0 0 0 0 N 0.0 IA OO Please see note in Item 4(a). Kerry Propper b X1 0 0 0 0 0 N 0.0 HC IN Please see note in Item 4(a). Antonio Ruiz-Gimenez b U3 0 0 0 0 0 N 0.0 HC IN Please see note in Item 4(a). Fold Holdings, Inc. 2942 North 24th Street, Suite 115, #42035 Phoenix, Arizona 85016 SZOP Opportunities I LLC SZOP Opportunities Management LLC SZOP Multistrat LP SZOP Multistrat Management LLC Kerry Propper Antonio Ruiz-Gimenez 1 Pennsylvania Plaza, Suite 4810 New York, New York 10119 SZOP Opportunities I LLC - Delaware SZOP Opportunities Management LLC - Delaware SZOP Multistrat LP - Delaware SZOP Multistrat Management LLC - Delaware Kerry Propper - United States Antonio Ruiz-Gimenez - Spain Y SZOP Opportunities I LLC - 5,361,529* SZOP Opportunities Management LLC - 5,361,529* SZOP Multistrat LP - 0* SZOP Multistrat Management LLC - 0* Kerry Propper - 0* Antonio Ruiz-Gimenez - 0* *The common stock (the "Shares") of Fold Holdings, Inc. (the "Issuer") reported herein represents Shares that may be purchased by SZOP Opportunities I LLC ("SZOP Opportunities") pursuant to an Equity Purchase Facility Agreement (the "Purchase Agreement"), between SZOP Opportunities and the Issuer. Since the most recently filed Schedule 13G, SZOP Multistrat LP transferred its ownership interests in SZOP Opportunities to an affiliated entity, SZOP Opportunities Management LLC (the "Manager", and collectively with SZOP Opportunities, the "Reporting Persons"). As such, this amendment reflects the current ownership structure of SZOP Opportunities. The Manager is managed by a board of managers comprised of three persons which requires that voting and disposition decisions with respect to the Shares be approved by a majority of the managers. As such, this amendment also serves as an exit filing for each of SZOP Multistrat LP, SZOP Multistrat Management LLC, Kerry Propper and Antonio Ruiz-Gimenez as those reporting persons no longer beneficially own Shares within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934 (the "Act"). Under the Purchase Agreement, at the Issuer's sole discretion, SZOP Opportunities may be required to purchase Shares, in accordance with the terms and subject to the conditions and limitations of the Purchase Agreement. One of such limitations is that the Purchase Agreement prohibits SZOP Opportunities from purchasing any Shares, which, when aggregated with all other Shares then beneficially owned by SZOP Opportunities and its affiliates, would result in the beneficial ownership by SZOP Opportunities and its affiliates exceeding 9.99% of the Shares outstanding (the "Ownership Limitation"). As such, the percent of class reported herein gives effect to the Ownership Limitation and is based upon a statement in the Issuer's Form 10-Q filed on November 10, 2025 that there were 48,307,642 Shares outstanding plus the approximate total number of Shares that the Reporting Persons may acquire at the direction of the Issuer (subject to the Ownership Limitation) in accordance with Rule 13d-3(d)(1)(i) under the Act. The Reporting Persons are electing to file this Schedule 13G solely to the extent that, for the purposes of Rule 13d-3 of the Act, the Reporting Persons are deemed to beneficially own the Shares pursuant to the Purchase Agreement. The filing of this report shall not be deemed an admission, for purposes of Section 13 of the Act, as amended, or for any other purpose. Each of the Reporting Persons (and previous reporting persons) disclaim beneficial ownership of the Shares reported herein except to the extent of such Reporting Person's pecuniary interest, if any, therein. SZOP Opportunities I LLC - 9.9% SZOP Opportunities Management LLC - 9.9% SZOP Multistrat LP - 0.0% SZOP Multistrat Management LLC - 0.0% Kerry Propper - 0.0% Antonio Ruiz-Gimenez - 0.0% SZOP Opportunities I LLC - 0 SZOP Opportunities Management LLC - 0 SZOP Multistrat LP - 0 SZOP Multistrat Management LLC - 0 Kerry Propper - 0 Antonio Ruiz-Gimenez - 0 SZOP Opportunities I LLC - 5,361,529* SZOP Opportunities Management LLC - 5,361,529* SZOP Multistrat LP - 0* SZOP Multistrat Management LLC - 0* Kerry Propper - 0* Antonio Ruiz-Gimenez - 0* SZOP Opportunities I LLC - 0 SZOP Opportunities Management LLC - 0 SZOP Multistrat LP - 0 SZOP Multistrat Management LLC - 0 Kerry Propper - 0 Antonio Ruiz-Gimenez - 0 SZOP Opportunities I LLC - 5,361,529* SZOP Opportunities Management LLC - 5,361,529* SZOP Multistrat LP - 0* SZOP Multistrat Management LLC - 0* Kerry Propper - 0* Antonio Ruiz-Gimenez - 0* Y N Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit I - JOINT FILING STATEMENT SZOP Opportunities I LLC /s/ Kerry Propper 02/17/2026 SZOP Opportunities Management LLC /s/ Kerry Propper 02/17/2026 SZOP Multistrat LP /s/ Kerry Propper 02/17/2026 SZOP Multistrat Management LLC /s/ Kerry Propper 02/17/2026 Kerry Propper /s/ Kerry Propper 02/17/2026 Antonio Ruiz-Gimenez /s/ Antonio Ruiz-Gimenez 02/17/2026