Animoca Brands Eyes NYSE Listing Amid Trump's Crypto-Friendly Policies

Animoca Brands, a prominent player in the crypto industry, is preparing to list on the New York Stock Exchange. The Hong Kong-based company is capitalizing on what it perceives as a more favorable regulatory environment under President Donald Trump. The company's executive chair, Yat Siu, indicated that an official announcement could be imminent as they explore various shareholding structures.

Siu emphasized that the decision to pursue a US listing is not contingent on market conditions but rather on strategic timing and positioning within the world's largest capital market. This move comes after Animoca was delisted from the Australian Securities Exchange in 2020 due to governance concerns and questions about the status of certain cryptocurrencies it held.

Since its delisting, Animoca has expanded its investment portfolio significantly. The company now holds stakes in major crypto firms such as OpenSea, Kraken, and Consensys. This strategic investment has positioned Animoca as a key player in the blockchain and crypto space, with a strong financial performance to back it up. For the year ending December 2024, Animoca reported unaudited earnings of $97 million from $314 million in revenue, marking a substantial increase from the previous year.

Animoca claims to be the largest non-financial crypto firm globally, with approximately $300 million in cash and stablecoins, and over $538 million in digital assets. This financial strength places the company in a robust position within the industry. Siu suggested that other companies in Animoca’s portfolio, such as US-based Kraken, might also consider a US listing in the coming years, potentially in 2025 or 2026.

The regulatory landscape under Trump has shifted to be more welcoming to crypto businesses. Under the previous administration, federal agencies launched numerous lawsuits and enforcement actions against digital asset firms, which Siu believes deterred innovation and overseas companies from entering the US market. Trump’s return to office has brought pledges to support the crypto sector and a rollback of enforcement activity against crypto companies.

This regulatory shift is already having tangible effects. The US Securities and Exchange Commission has dropped or paused over a dozen enforcement cases against crypto companies, and the Department of Justice has dissolved its cryptocurrency enforcement unit, signaling a softer approach to the sector. Other crypto firms are also responding to these changes. OKX recently announced plans to establish a US headquarters in San Jose, California, and Nexo revealed plans to reenter the US market, citing new opportunities in the changing regulatory landscape.

This wave of returns suggests growing confidence in the US crypto market under the Trump administration’s more hands-off approach to regulation. Siu described the current situation as “a unique moment in time,” adding that not taking advantage of it “would be one heck of a wasted opportunity.”