Animoca Brands eyes US IPO as Trump shifts toward pro-crypto stance

Hong Kong-based crypto investment firm Animoca Brands is planning a US listing as the country’s regulatory environment has become more accommodating under President Donald Trump. Speaking with the Financial Times, Animoca Brands executive chair Yat Siu said the company is currently evaluating various shareholding structures and could make an announcement “soon,” regarding its plans to list in New York. He noted that the listing decision is being driven less by market conditions and more by timing and strategic positioning in a newly favourable regulatory climate. Siu described the current shift in regulatory stance under Trump as a “unique moment,” pointing to the returning president’s pro-crypto rhetoric and rollback of enforcement actions as a major incentive. According to him, not taking advantage of this window “would be one heck of a wasted opportunity.” Under the previous Biden administration, Siu said, regulatory hostility had stifled innovation and discouraged foreign firms from entering the US market. He argued that the wave of lawsuits and enforcement actions created a vacuum in the industry, allowing companies like Animoca to gain ground globally. “If the US didn’t do what they did with the regulators [under Biden], we probably would have competitors in the US,” he added. Animoca, delisted from the Australian Securities Exchange in 2020 over governance concerns and regulatory questions around crypto assets, has since transformed into a major investor in the digital asset space. The company now holds stakes in several high-profile crypto firms such as OpenSea, Kraken, and Consensys. Animoca’s early bet on digital assets appears to have paid off, with the firm reporting unaudited 2024 earnings of $97 million on $314 million in revenue. According to Siu, the company currently holds nearly $300 million in cash and stablecoins, alongside $538 million in digital assets on its balance sheet. He touted Animoca as “the biggest non-financial services crypto firm” and said a public listing would help showcase that it is building a business beyond “the typical crypto stuff.” Animoca isn’t the only one eyeing the US markets amid the policy shift. Siu revealed that some of the company’s portfolio firms are also weighing similar moves, including US-based crypto exchange Kraken, which may pursue a listing as early as 2025 or 2026. Trump’s pro-crypto approach Since returning to the White House, President Donald Trump has enacted several pro-crypto policies in line with his promise of positioning the United States as the cryptocurrency capital of the world. Trump has also reshuffled key regulatory positions to reflect his administration’s friendlier stance on digital assets. Several top roles across agencies such as the Treasury, the C ommodity Futures Trading Commission (CFTC), and the Securities and Exchange Commission (SEC) have gone to figures known for their pro-crypto views or industry ties. At the SEC, under the new leadership of Paul Atkins , the agency has moved swiftly to pause or dismiss multiple enforcement actions that had been initiated under Biden-era regulators. The Department of Justice has also followed suit. In April 2025, the DOJ disbanded its National Cryptocurrency Enforcement Team, redirecting its focus toward other priorities. The post Animoca Brands eyes US IPO as Trump shifts toward pro-crypto stance appeared first on Invezz

Source: Invezz