Animoca Brands Plans New York Listing Amid Trump's Crypto Support

Animoca Brands, a Hong Kong-based blockchain and gaming company, is preparing for a listing in New York. The company's executive chair, Yat Siu, cited the relaxed regulatory stance on digital assets under US President Donald Trump as a key factor in this decision. Siu mentioned that an announcement regarding the listing could be made soon, as the company is currently evaluating various shareholding structures. The timing of this move is strategic, focusing on positioning rather than market conditions.

Animoca Brands was delisted from the Australian Securities Exchange in 2020 due to governance concerns and the status of certain cryptocurrencies. Since then, the company has built a strong investment portfolio, including stakes in prominent firms like OpenSea, Kraken, and Consensys. The company reported unaudited earnings of $97 million from $314 million in revenue for the year ending December 2024, marking a significant increase from the previous year. Animoca Brands is now considered the largest non-financial crypto firm globally, with $300 million in cash and stablecoins and over $538 million in digital assets.

Siu also hinted that other companies in Animoca's portfolio, such as US-based Kraken, might follow suit with listings in the US in the coming years. This move is seen as a strategic response to the changing regulatory environment under Trump's administration, which has pledged support for the crypto sector and rolled back enforcement activities. This shift has created a unique opportunity for global firms to enter the US market, which was previously stifled by regulatory hostility under the Biden administration.

Since Trump's election victory, the US Securities and Exchange Commission has dropped or paused over a dozen enforcement cases against crypto companies. Additionally, the Department of Justice recently announced the dissolution of its cryptocurrency enforcement unit, signaling a softer approach to the sector. This regulatory clarity has boosted industry confidence, with other crypto firms like OKX and Nexo also announcing plans to re-enter or expand in the US market.

Animoca Brands' decision to list in New York is part of a broader strategy to enhance its market presence and financial flexibility. The company aims to leverage the supportive regulatory landscape in the US to attract more investors and expand its global footprint. By listing in New York, Animoca Brands will gain access to a larger pool of capital, enabling it to fund its ambitious projects and acquisitions more effectively. This move underscores the growing importance of the US market for blockchain and crypto companies, despite regulatory challenges in other regions.

In summary, Animoca Brands' plan to list on the New York Stock Exchange is a strategic response to the changing regulatory landscape under President Trump's administration. The company aims to capitalize on the growing acceptance of cryptocurrencies in the US to expand its market presence and financial capabilities. This move is expected to further solidify Animoca Brands' position as a key player in the blockchain and gaming industry.