Bitcoin financial services firm Fold reported an 8% increase in revenue in Q4 to $9 million, as it gained another 2,000 customers and introduced new products aimed at integrating Bitcoin reward schemes into consumer spending. The company's CEO, Will Reeves, stated that they believe that Bitcoin rewards will overtake airline miles as the preferred consumer reward in the US. Despite this optimism, Fold recorded a 3% year-on-year fall in transaction volume to $215 million and a $6 million operating loss of $69.6 million for 2025. Despite Reeves' optimism for the remainder of 2026, Fold has nearly cut its Bitcoin treasury in half.