Animoca Brands Eyes New York Listing, Citing Trump’s Crypto Stance
Hong Kong-based blockchain giant Animoca Brands is reportedly planning a potential New York Stock Exchange listing. This strategic move is fueled by the perceived pro-crypto environment fostered by President Donald Trump’s administration, offering a significant opportunity to tap into the world’s largest capital market.
Animoca’s executive chairman, Yat Siu, recently indicated to the Financial Times that an official announcement is imminent, with the company carefully assessing various shareholding structures. The decision, Siu emphasized, is less about market fluctuations and more about strategic timing and optimal positioning.
Animoca’s journey to this point has been remarkable. After delisting from the Australian Securities Exchange in 2020 due to governance concerns and the regulatory uncertainty surrounding cryptocurrencies, the company has since assembled an impressive investment portfolio, boasting stakes in prominent players like OpenSea, Kraken, and Consensys.
The company’s financial performance has been equally impressive. Animoca reported unaudited earnings of $97 million on $314 million in revenue for the year ending December 2024, marking a substantial increase from the previous year.
Source: Animoca Brands
Siu highlighted Animoca’s position as the world’s largest non-financial crypto firm, holding $300 million in cash and stablecoins, and over $538 million in digital assets. He also hinted at the potential for other Animoca portfolio companies, such as Kraken, to follow suit with US listings in the near future.
Related: Deribit Eyes US Expansion Under Trump Administration
The Crypto Industry’s Return to the US
The previous administration’s aggressive regulatory stance created a challenging environment for crypto firms, hindering innovation and discouraging international companies from entering the US market. Siu described the current shift as a pivotal opportunity, emphasizing the potential consequences of inaction.
The change in administration has been accompanied by a noticeable decrease in regulatory scrutiny. The SEC has reportedly paused or dropped numerous enforcement cases against crypto companies, while the DOJ dissolved its cryptocurrency enforcement unit. This shift is already impacting industry decisions, with companies like OKX and Nexo either establishing or re-entering the US market.