Fold Holdings (FLD) announced a delay in the rollout of its Fold Bitcoin Credit Card, causing shares to drop more than 7%. The company informed customers that a key infrastructure partner unexpectedly exited the credit card business, which disrupted their planned launch. As a result, Fold is transitioning to a new partner that aligns better with its long-term roadmap. Since going public in February at around $10 per share, Fold's stock has seen significant decline, hitting a low of $2.51 in mid-April and now trading at $4.25. This downward trend is alarming for investors, as the company has lost over 50% of its value since its SPAC deal earlier this year.

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