🗽💰 ANIMOCA GOES TO NEW YORK! Trump’s pro-crypto stance cited as a key factor.
Animoca Brands, a crypto giant based in Hong Kong, plans to list on the New York Stock Exchange, citing the more favorable regulatory environment towards digital assets under the possible administration of Donald Trump. 🇺🇸
Animoca's CEO, Yat Siu, mentioned to the Financial Times that an announcement could be made soon, while they evaluate different share structures. He emphasized that the decision does not depend on market conditions, but on the strategic timing. ⏱️
Animoca, which stopped trading in Australia in 2020, has built a solid portfolio with investments in OpenSea, Kraken, and Consensys. They reported unaudited earnings of $97 million on revenues of $314 million in 2024, a significant increase. 📈
Siu highlighted that Animoca is the largest non-financial crypto company globally, with $300 million in cash and stablecoins, and over $538 million in digital assets. He also hinted that other companies in their portfolio, like Kraken, could follow suit in the U.S. in 2025 or 2026. 🚀
The regulatory stance shift in the U.S. with Trump’s return, who has promised support for the crypto sector and a rollback of law enforcement activity, contrasts with the regulatory hostility under the Biden administration. Siu describes it as a "unique moment" that they cannot miss. ⏳
Since Trump’s electoral victory, the SEC has abandoned or paused several cases against crypto companies, and the Department of Justice dissolved its cryptocurrency enforcement unit. This new approach seems to be boosting confidence, with companies like OKX and Nexo announcing plans to return or expand in the U.S. 🌟
Do you think more crypto companies will follow Animoca's lead and seek to list in the U.S. under a Trump administration? What impact will this have on the global crypto market?
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