Bitcoin Venture Studio Thesis* Acquires Lolli Rewards Platform to Kick Off BTC Ecosystem Expansion
Known as one of the longest standing and most accessible crypto rewards platforms, Lolli will now join the Thesis* ecosystem alongside Fold, tBTC, and Mezo to establish a circular Bitcoin economy
Thesis*, the venture studio behind Bitcoin-native successes such as Fold, Mezo, and tBTC, today announced its acquisition of Lolli, the leading Bitcoin rewards platform. This acquisition represents a strategic move to accelerate mainstream Bitcoin adoption by significantly enhancing consumer experiences through expanded rewards, faster payouts, and innovative partnerships.
Matt Luongo, co-founder of Fold and CEO of Thesis, will lead Lolli into its next phase of growth. Under Luongo’s leadership, Fold became the first publicly traded Bitcoin financial services company, pioneering Bitcoin rewards for everyday transactions. With this acquisition, Luongo brings that same proven vision and operational excellence to Lolli.
“Having competed alongside Lolli for years, I’ve admired their ability to onboard users through accessible and engaging experiences,” said Matt Luongo. “At Thesis, we believe Bitcoin’s real growth is driven by everyday interactions — shopping, gaming, spending — not just investment portfolios. Together, we’re creating the easiest and most rewarding entry point for millions to join the Bitcoin economy.”
What’s Next for Lolli?
With Luongo at the helm, the immediate roadmap for Lolli is centered on significant, user-focused improvements:
Strengthening Collaboration with the Thesis* Portfolio
The driving force behind this acquisition is to expand the Bitcoin consumer experience, seeking to address the long-standing fragmentation between using Bitcoin and earning on it. By uniting Lolli’s rewards with the capabilities of Fold and the broader Thesis ecosystem, Luongo and his experienced team aim to close the loop between earning and using Bitcoin.
Users will soon benefit from shared innovations, including expanded offerings through a new “Lolli Market,” featuring more brands, higher cashback rates, and global accessibility. This integration will provide seamless opportunities to earn and spend Bitcoin in everyday life.
“We are excited to join forces with Thesis to power the next phase of bitcoin adoption through rewards with Lolli,” said Alex Adelman, Founder and former CEO of Lolli. “We’ve always aimed to make Bitcoin easy, fun, and rewarding for everyone. With Thesis’ deep infrastructure expertise and shared vision, we can significantly enhance our platform and accelerate global adoption.”
Streamlining for Growth
To deliver these ambitious enhancements, Thesis will undertake essential infrastructure upgrades, including migrating Lolli to a more robust, scalable system.
Since its inception in 2018, Lolli has rewarded over 600,000 users with more than $20 million in Bitcoin through everyday shopping, gaming, and online activities. Thesis’ acquisition solidifies a powerful alliance committed to expanding practical, accessible, and rewarding Bitcoin experiences worldwide.
About Lolli:
Lolli was founded in 2018 as the first bitcoin rewards application allowing users to earn bitcoin and cashback when they shop at 50,000+ top stores and play 1,000+ mobile games. Lolli was created with the goal of making it easy to earn, own, and share bitcoin with as many people as possible.
Thesis is a venture studio dedicated to building on Bitcoin. Since 2014, Thesis has been committed to empowering individuals and communities through the creation of market-leading products including Fold, Mezo, tBTC, and more. Thesis is driven by innovation and a belief in a sovereign digital future.
