Animoca Brands Seeks New York Listing Amid Crypto-Friendly US Environment
Animoca Brands, based in Hong Kong, is pursuing a listing in New York as the US adopts a crypto-friendly stance under the Trump administration. CEO Yat Siu stated an announcement could occur soon while evaluating shareholding structures.
Key points include:
- Animoca raised funds during the 2022 crypto winter at a $6 billion valuation.
- The company reported unaudited earnings of $97 million on $314 million in revenue for 2024.
- Siu noted that the Biden administration's regulatory actions have hindered innovation.
- Animoca holds $300 million in cash and stablecoins, with digital assets valued over $538 million.
- Other companies in Animoca's portfolio, like Kraken, may pursue US listings by 2025 or 2026.
- Since Trump's election, the SEC has reduced enforcement actions against cryptocurrency firms.
Siu emphasized the importance of entering the US market, stating it presents a unique opportunity for growth.