Fold holdings (FLD) Customers were aware of early Monday afternoon a delay in apping its folding bitcoin credit card.
Shares quickly collapsed by more than 7% in the news.
“A major infrastructure partner unexpectedly exits the credit card business, which interferes with our planned controlling,” Fold said in an email to customers. “As a result, the launch of the Fold Bitcoin Credit Card was delayed as we moved to a new partner who better aligned with the long -term roadmap.”
The fold came public around $ 10 per part in February this year, but quickly dropped lower, dropping in mid -April to $ 2.51. Shares are now changing hands to $ 4.25.
