Hong Kong-based Animoca Brands, a leading blockchain gaming and crypto investment firm, is eyeing a listing on the New York Stock Exchange. While no specific date has been set, and the listing is not dependent on market conditions, Executive Chairman Yat Siu said an announcement would be made soon.
Animoca Brands is reportedly pursuing the listing in part to take advantage of U.S. President Donald Trump’s “light-touch” regulation of digital assets. In an interview with the Financial Times, Siu described Trump’s approach as a “unique moment” for the industry.
Since taking office in January, the Trump administration has moved swiftly to dismantle Biden-era policies, which critics say discouraged innovation and pushed crypto firms out of the U.S. Under Trump, the U.S. Securities and Exchange Commission (SEC) has dropped or paused lawsuits against digital asset companies. These steps, along with Trump’s enthusiastic embrace of cryptocurrency, have attracted key players such as the cryptocurrency options exchange Deribit.
According to Siu, a U.S. listing was not even under discussion a year ago, but Trump’s approach to crypto regulation has made it a central part of Animoca’s roadmap.
“If the U.S. didn’t do what they did with the regulators [under Biden], we probably would have competitors in the U.S. Normally, we’d be fighting with some giant or something. It’s the biggest market, so we should go there, right? It’s a unique moment in time. I feel like it would be one heck of a wasted opportunity if we didn’t at least try,” Siu said.
Animoca Brands, which raised nearly $6 billion in private funding, has steadily built an investment portfolio spanning Opensea, Kraken, and Consensys. The company anticipates gaming firms integrating crypto payments into upcoming releases like Grand Theft Auto 6, potentially boosting revenues.
Some Animoca-backed firms, including crypto exchange Kraken, are also exploring U.S. listings in late 2025 or early 2026, further underscoring the Trump administration’s regulatory shift as a catalyst for crypto industry expansion.
The company’s revenue surged to $314 million last year, with earnings before taxes and depreciation rising to $97 million. With $300 million in cash and stablecoins and $538 million in digital assets, Animoca believes it is well-positioned to enter U.S. public markets.
“We think we’re the biggest non-financial services crypto firm,” Siu said.
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