- Animoca sees a new chance to grow as rules in the US shift toward crypto support.
- The company holds strong cash and asset reserves that make a US listing more secure.
- Other crypto firms may follow as the US opens more to blockchain and Web3 companies.
Animoca Brands plans to go public in the U.S. “soon,” driven by a favorable crypto climate under President Donald Trump. The Hong Kong-based blockchain investment firm aims to break into the world’s largest capital market, citing easing regulations and reduced enforcement as key motivators.
Executive Chairman Yat Siu confirmed that the IPO announcement is imminent. “I think going public is a way to tell the world that ‘hey there’s a business that is in crypto that isn’t doing the typical crypto stuff,’” said Siu.
He added, “We think we’re the biggest non-financial services crypto firm,” stressing that current U.S. conditions offer a rare chance. “This is a unique moment in time,” Siu stated. “Failing to seize it would be one heck of a wasted opportunity.”
Trump’s Regulatory Shift Sparks Momentum
Under former President Joe Biden, the U.S. launched multiple enforcement actions targeting crypto firms. These included efforts from both the Securities and Exchange Commission (SEC) and the Department of Justice.
Siu explained that this created a hostile environment that discouraged innovation. “That regulatory animosity hindered innovation and deterred foreign businesses from joining the US market,” he said.
Now, under Trump’s administration, more than a dozen enforcement actions have been paused or dropped. The DOJ has also dissolved its National Cryptocurrency Enforcement Team. These changes signaled a clear shift to industry observers.
Animoca had not anticipated a U.S. IPO in 2024. However, Siu now regards it as “a very important part of the roadmap,” prompted by the friendlier U.S. policy.
Strong Financials and Expanding Reach
According to reports, Animoca generated approximately $97 million in EBITDA from $314 million in revenue in 2024. The company holds close to $300 million in cash and stablecoins and $538 million in crypto reserves.
Following its 2020 delisting from the Australian Securities Exchange due to governance issues, Animoca has scaled up dramatically. It now holds stakes in more than 540 companies, including Kraken, Consensys, and OpenSea.
In March 2025, Animoca partnered with Sony’s blockchain unit Soneium to launch Anime ID, a decentralized identity platform led by San FranTokyo, a contributor to the Anime Foundation.
Related: Wall Street and Crypto Brace as Fed Signals Major Shift
Will Animoca Set the Benchmark for Crypto Listings?
As other crypto companies such as Kraken and Deribit consider U.S. IPOs, Animoca’s move could pave the way. Additionally, American Bitcoin, backed by Eric and Donald Trump Jr., plans to go public via a merger with Gryphon Digital Mining.
The listing of Animoca may indicate the market-wide acceptance of digital assets. The question remains: Could this momentum drive more crypto innovators to pursue traditional financial routes?
