Animoca Brands Targets U.S. IPO as Regulatory Climate Warms Under Trump

Web3 giant Animoca Brands is preparing to take its business public in New York, capitalizing on what it sees as a more crypto-friendly environment under President Donald Trump.

The company, based in Hong Kong and known for its vast investment portfolio in blockchain firms, is currently weighing share structure options as it eyes the U.S. capital markets.

Executive chairman Yat Siu told the Financial Times that the timing isn’t tied to short-term volatility but to broader strategic alignment. Animoca was previously delisted from Australia’s stock exchange in 2020 due to compliance concerns but has since rebuilt its reputation, backing platforms like Kraken, Consensys, and OpenSea.

With reported 2024 revenue of $314 million and $97 million in earnings, the firm says it holds over $800 million in crypto and fiat reserves. Siu hinted that some of its U.S. portfolio companies—such as Kraken—may also consider listing stateside by 2026.

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The broader shift comes as Trump’s administration scales back federal enforcement actions against the crypto sector. Siu described the regulatory pivot as a rare opening that crypto firms would be wise to seize. Since Trump’s win, the SEC has quietly paused or abandoned more than a dozen enforcement cases, and the DOJ recently shuttered its crypto crimes division.

The change in tone is already drawing firms back. Exchange OKX has announced a new U.S. headquarters, while lender Nexo is reentering the market after a 2022 exit prompted by regulatory friction.

For Animoca and its peers, the message is clear: the window for a crypto resurgence in the U.S. may have just opened.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.