Animoca Brands Eyes New York Listing Amid Softer U.S. Crypto Stance

Hong Kong-based Animoca Brands is preparing for a potential listing in New York, citing U.S. President Donald Trump’s more favorable approach to cryptocurrency regulation as a rare and strategic opportunity.

Animoca Executive Chairman Yat Siu said the company is evaluating shareholding structures and may make an announcement soon, with timing and positioning taking precedence over current market conditions.

Strategic Pivot Toward U.S. Markets

Siu highlighted the shift in U.S. regulatory tone as a key motivator, describing the current moment as a “unique opportunity” that crypto firms must not ignore. He said the Trump administration’s lighter regulatory touch offers international companies like Animoca a gateway to the world’s largest capital market.

“The decision is about strategic timing,” Siu noted, adding that not capitalizing on the current climate “would be one heck of a wasted opportunity.”

Source: Animoca Brands

Strong Financials and Global Footprint

Delisted from the Australian Securities Exchange in 2020 due to governance concerns and uncertainty around crypto assets, Animoca has since transformed into a major global player, with a diversified portfolio that includes investments in OpenSea, Kraken, and Consensys.

The company posted unaudited earnings of $97 million on $314 million in revenue for the year ending December 2024—a significant improvement from the prior year. Its balance sheet includes $300 million in cash and stablecoins, and over $538 million in digital assets, according to Siu.

He also suggested that other Animoca portfolio companies, including U.S.-based Kraken, could also explore U.S. listings as soon as 2025 or 2026.

Wider Crypto Industry Reconsiders U.S. Expansion

Animoca’s move comes amid a broader trend of crypto firms reconsidering or resuming operations in the U.S. after years of regulatory pressure under the Biden administration. During that period, U.S. agencies launched dozens of enforcement actions that deterred foreign and domestic blockchain firms alike.

But since Trump’s return to office, enforcement activity has sharply declined. More than a dozen SEC lawsuits have been dropped or paused, and the Department of Justice recently announced the shutdown of its crypto enforcement unit.

This regulatory easing has boosted industry confidence. Exchange giant OKX, for example, recently announced plans to open a U.S. headquarters in San Jose, California, after settling a $504 million case. Similarly, Nexo, which exited the U.S. in 2022 citing unclear regulation, has now confirmed plans to reenter the American market.

Summary:

Animoca Brands is preparing to list in New York, viewing the U.S.’s relaxed crypto stance under President Trump as a prime opportunity. The company, which boasts strong earnings and a massive digital asset portfolio, sees this as a strategic window not just for itself but for other crypto firms to reengage with U.S. capital markets.