Technology

Thesis*-Backed Fold Becomes First Bitcoin Financial Services Company to Go Public on Nasdaq

Published

1 year ago

February 21, 2025

The listing marks a major milestone for Thesis* as it continues to pioneer Bitcoin-native financial innovation, aimed at providing access to crypto products to average consumers

NEW YORK, Feb. 21, 2025 /PRNewswire/ — Thesis*, the venture studio behind some of the most impactful Bitcoin-native financial products, celebrates a landmark achievement as Fold Holdings Inc. (“Fold”)—one of its most successful incubated companies—becomes the first Bitcoin financial services company to go public on the Nasdaq Stock Market under the ticker symbols FLD (common stock) and FLDDW (warrants).

Fold’s public debut represents a major step forward in Thesis*’ mission to build open financial systems powered by Bitcoin. Originally developed under Thesis*’ umbrella, Fold has grown into a leading Bitcoin rewards platform, enabling users to earn, save, and spend Bitcoin on everyday purchases. By leveraging Bitcoin-native infrastructure, Fold provides a seamless way for consumers to integrate Bitcoin into their daily financial lives.

“This is not just a milestone for Fold—it’s a validation of Thesis*’ venture studio model and our commitment to developing Bitcoin-native financial tools,” said Matt Luongo, Founder and CEO of Thesis*. “We build products that empower individuals to participate in an open financial system. Fold’s Nasdaq listing is a major moment in bringing that vision to life.”

Thesis*’ journey with Fold began in 2014 when Matt Luongo and his team recognized the challenges of Bitcoin adoption. While Bitcoin was originally conceived as a peer-to-peer payment system, users were reluctant to spend their BTC. Thesis* pivoted to a new approach: making Bitcoin accumulation effortless through rewards.

The result was Fold, a Bitcoin rewards platform that enables users to earn satoshis (“sats”)—small units of Bitcoin—on everyday purchases instead of traditional loyalty points. Through partnerships with major payment networks like Visa, Fold has made it possible for users to earn Bitcoin on credit card transactions, rent payments, and gift card purchases.

Recognizing Fold’s potential, Thesis* made a strategic decision to spin off Fold as an independent company, appointing Will Reeves as CEO. As an incubated Thesis* project, Fold benefited from Thesis*’ extensive expertise in Bitcoin finance, strategic guidance, and hands-on support in product development and scaling.

“Going public is a testament to the growing role of Bitcoin in the global financial system,” said Will Reeves, CEO of Fold. “We started with the belief that finance should be open, inclusive, and built on Bitcoin. Our Nasdaq listing brings us one step closer to making that vision a reality.”

Fold’s rapid growth led to a $13 million Series A investment in 2021, led by Craft Ventures with participation from M13, Slow Ventures, and Bessemer Venture Partners. This success validated Thesis*’ venture studio model—demonstrating how Thesis* identifies, nurtures, and spins out high-potential Bitcoin-native startups.

In 2024, Fold took the next major step by merging with FTAC Emerald Acquisition Corp., a special purpose acquisition company (SPAC) backed by Cohen Circle. This move secured the capital and institutional backing necessary for Fold to scale its impact, culminating in its historic Nasdaq listing. Fold’s success is just the beginning. As the first Bitcoin financial services company to go public, it sets the stage for broader Bitcoin adoption within mainstream financial markets. But Thesis* isn’t stopping here.

“As we celebrate Fold’s success, we are already building the infrastructure for the next wave of Bitcoin-native finance,” said Luongo. “For example, with Mezo, another product built by Thesis*, we’re tackling one of the most critical missing pieces—Bitcoin-backed lending and borrowing. Just like we helped people earn Bitcoin through Fold, Mezo will empower them to leverage their Bitcoin without selling it.”

About Thesis*

Thesis* is a venture studio dedicated to building Bitcoin-native financial products that empower individuals and advance open finance. With a track record of incubating and spinning out successful companies—including Fold, Mezo, and other groundbreaking projects—Thesis* is at the forefront of Bitcoin innovation.

For more information, visit www.Thesis.co.

About Fold

Fold is the leading Bitcoin rewards and financial services platform, enabling users to earn, save, and spend Bitcoin on everyday transactions. By seamlessly integrating Bitcoin into personal finance, Fold empowers individuals to participate in the Bitcoin economy with minimal risk or complexity.

For more information, visit www.foldapp.com.

Media Contact: thesis@mgroupsc.com

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Technology

Yon Raz-Fridman Joins Intrinsic Labs as Co-Founder and Partner

Published

2 hours ago

April 30, 2026

Most AI companies are selling software. Intrinsic is deploying AI workers into the core operations of mid-market companies – and just brought in a serial tech entrepreneur to help the firm scale across the Heartland.

COLUMBUS, Ohio, April 30, 2026 /PRNewswire/ — Intrinsic Labs today announced that Yon Raz-Fridman has joined the firm as a Co-Founder and Partner.

Raz-Fridman has spent nearly two decades building across software, hardware, and platform businesses. Early in his career, he served as Chief of Staff to the President of Keter Group, a $1 billion-plus global consumer products manufacturer. He went on to co-found Kano, the award-winning educational computing company, and later founded Supersocial, the immersive gaming studio acquired by Super League Enterprises in 2025. He is a member of the World Economic Forum’s Technology Convergence Council.

He joins Intrinsic at a moment when mid-market companies are moving from AI experimentation to deployment. Intrinsic works with operators in logistics, construction, insurance, manufacturing, and industrial markets to deploy AI workers into the workflows that run the business – increasing throughput, reducing manual work, and expanding capacity without adding headcount.

The firm has built its reputation on practical deployments tied to real operating metrics. In one engagement with a national real estate brokerage, Intrinsic’s AI Accounting Agents reached 97% invoice coding accuracy, automated 90% of the AP workflow, and fully removed FTEs from the review flow.

“Yon understands what it takes to build and scale in the real world,” said Jon Slemp, Managing Partner at Intrinsic Labs. “Our clients aren’t buying flashy agents, they’re buying outcomes and reliable labor. They need agentic systems that take work off their teams, perform reliably, and produce measurable gains in throughput and capacity. That’s what we build.”

As Co-Founder, Raz-Fridman will oversee Intrinsic’s expansion – designing the channel relationships, institutional partnerships, and market positioning that take the firm from a proven Ohio model to the defining AI workforce platform for America’s industrial middle market.

“The companies that win over the next decade will be the ones that figure out how to staff AI into their operations and manage it like a workforce. Intrinsic is doing that work now, inside real businesses, tied to real outputs. The Heartland is exactly the right place to prove this model, and Intrinsic is exactly the right team to do it.” — Yon Raz-Fridman

About Intrinsic Labs LLC
Intrinsic Labs helps mid-market companies deploy AI workers into the workflows that run their business. The firm focuses on logistics, construction, insurance, manufacturing, and industrial markets, where manual work, fragmented systems, and labor constraints create clear opportunities for leverage. Intrinsic works with clients to put AI workers into production, tie them to operating KPIs, and help teams scale output without scaling headcount. https://www.intrinsic-labs.ai/

About Team Yon LLC
Team Yon LLC is a management company founded by Yon Raz-Fridman that incubates new ventures, provides executive leadership, and makes strategic investments at the intersection of emerging technology and human advancement. Through Team Yon LLC, Raz-Fridman partners with founders and operators across healthcare, AI, and frontier technology – including his role as co-founder and Partner at Intrinsic Labs. https://teamyon.org

Media Contact:hello@intrinsic-labs.ai

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Technology

Wipfli to complete CompliancePoint transaction and add associates, expanding capabilities

Published

2 hours ago

April 30, 2026

MILWAUKEE, April 30, 2026 /PRNewswire/ — Wipfli, a top 25 national advisory and accounting firm, announced today it has entered into an agreement with CompliancePoint Inc., a provider of risk management services focused on information security, data privacy and regulatory compliance. 2 partners and 52 associates will join the firm as a result of the transaction.

Based in Duluth, Georgia, CompliancePoint brings specialization across cybersecurity, privacy and compliance, serving clients across a wide variety of industries. The addition strengthens Wipfli’s risk management offerings and expands its ability to help organizations navigate regulatory scrutiny, evolving cybersecurity threats and complex data protection requirements.

“Organizations today are under more pressure than ever to protect sensitive information and operate responsibly in an evolving regulatory environment,” said Kurt Gresens, CEO at Wipfli Advisory, LLC. “The team at CompliancePoint brings specialized experience and a strong, people-first approach that enhances how we support clients navigating today’s risk landscape.”

CompliancePoint has built its reputation on helping organizations manage risk across the full data lifecycle, with a holistic approach that recognizes how privacy, security and compliance intersect. The combined professional teams from CompliancePoint and Wipfli will deliver expanded, integrated advisory solutions designed to help clients proactively manage risk while supporting long-term growth and operational resilience.

“Wipfli shares our commitment to practical, client-focused solutions and long-term relationships,” said Greg Sparrow, CompliancePoint president. “Together, we’re expanding the resources available to our clients while continuing to deliver the specialized experience and trusted relationships they rely on.”

The addition of the CompliancePoint team also supports Wipfli’s continued investment in talent and innovation. CompliancePoint associates will join a national firm that emphasizes collaboration, professional development and meaningful client impact, while maintaining the specialized focus that has defined their work.

The transaction is expected to become effective on May 1st, 2026

About Wipfli

Wipfli is a leading national advisory and accounting firm with nearly 100 years of experience serving ambitious middle-market organizations. We understand our clients’ unique challenges and help them succeed on their terms through assurance, tax, advisory, outsourcing and technology services. With 3,000+ associates and global alliances, we combine national capabilities with local relationships. Wipfli operates under an alternative practice structure: Wipfli LLP, a licensed CPA firm, provides attest services, while Wipfli Advisory LLC, a non-CPA firm, delivers business advisory and non-attest services. Learn more at wipfli.com or contact Alicia O’Connell at alicia.oconnell@wipfli.com.

Media Contact

Alicia O’Connell
Wipfli
alicia.oconnell@wipfli.com

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SOURCE Wipfli

Technology

Ginkgo Bioworks Announces Date of First Quarter 2026 Results Presentation

Published

2 hours ago

April 30, 2026

Presentation and Q&A session scheduled for post-market on Thursday, May 7, 2026

BOSTON, April 30, 2026 /PRNewswire/ — Ginkgo Bioworks Holdings, Inc. (NYSE: DNA, “Ginkgo”) today announced that it plans to host a presentation and Q&A session reviewing business performance for the first quarter ended March 31, 2026, on Thursday, May 7, 2026, beginning at 4:30 p.m. ET.

The presentation details and webcast link will be available on Ginkgo’s investor relations website at https://investors.ginkgobioworks.com, and a replay will be made available.

To ask a question ahead of the presentation, please submit them to @Ginkgo on X (hashtag #GinkgoResults) or by sending an e-mail to investors@ginkgobioworks.com.

About Ginkgo Bioworks
Ginkgo Bioworks builds the tools that make biology easier to engineer for everyone. The company offers autonomous laboratories that replace manual laboratory work with robotics in the lab, greatly improving the productivity of scientists. Ginkgo’s in-house autonomous lab is also available as a “cloud lab” through our Datapoints and Solutions contract research services. For more information, visit ginkgobioworks.com and ginkgobiosecurity.com, read our blog, or follow us on social media channels such as X (@Ginkgo and @Ginkgo_Biosec), Instagram (@GinkgoBioworks), Threads (@GinkgoBioworks), or LinkedIn.

Ginkgo Bioworks Contacts:

INVESTOR CONTACT:

investors@ginkgobioworks.com

MEDIA CONTACT:

press@ginkgobioworks.com

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SOURCE Ginkgo Bioworks