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Animoca Brands, a Hong Kong-based company, is reportedly considering a New York listing, fueled by a perceived more favorable regulatory environment under the Trump administration. Executive Chairman Yat Siu initially suggested this to the Financial Times, but Animoca Brands later clarified this statement, calling the initial report a misunderstanding. While a US listing remains a possibility, the company emphasized its focus on expanding its US presence through product and service offerings.
Animoca’s potential listing follows its delisting from the Australian Securities Exchange in 2020. The company has since significantly grown its investment portfolio, holding stakes in prominent firms like OpenSea, Kraken, and Consensys. Animoca reported impressive unaudited earnings of $97 million on $314 million in revenue for the year ending December 2024. Siu highlighted Animoca’s position as the largest non-financial crypto firm globally, boasting $300 million in cash and stablecoins, and over $538 million in digital assets.
The shift in US regulatory approach under President Trump is a key factor influencing Animoca’s considerations. Siu contrasted the previous administration’s hostile regulatory environment, which he claimed stifled innovation and deterred overseas companies, with Trump’s pro-crypto stance and rollback of enforcement actions. This change is evidenced by the SEC dropping or pausing several enforcement cases against crypto companies and the DOJ dissolving its cryptocurrency enforcement unit.
This more lenient regulatory stance is attracting other crypto firms back to the US market. OKX is establishing a US headquarters, and Nexo, after previously leaving due to regulatory uncertainty, is re-entering the market. Siu further hinted that other Animoca portfolio companies, including Kraken, might also pursue US listings in the coming years. The overall narrative suggests a growing optimism within the crypto industry regarding the US market under the current administration, creating a potentially lucrative opportunity for companies like Animoca Brands.
