Animoca Brands, a Hong Kong-based investment firm focused on blockchain and gaming, is preparing to go public in the United States, aiming for a valuation of $6 billion. This move comes after President Donald Trump eased several restrictive crypto policies introduced during Joe Biden’s presidency.
Yat Siu, the chairman of Animoca, called the shift a “rare and valuable opening” to enter the world’s largest financial market. He noted that under Biden, aggressive regulatory actions drove many blockchain companies away from the US. Now, Trump’s friendlier stance is drawing firms back in.
Trump's Crypto-Friendly Shift Welcomes Animoca to the U.S.
Trump’s administration has started dropping several legal actions initiated under Biden, signaling its intent to make the US a leader in the global crypto economy. The goal: to build a supportive environment for blockchain innovation, especially for Web3 and digital asset companies.
Previously, crypto startups felt under siege in the US, with increased lawsuits and scrutiny from federal agencies. This led many to relocate overseas, slowing down domestic innovation and weakening the country’s influence in the sector.
But Animoca thrived during the crackdown. With competitors exiting the US market, it had more space to expand its influence in blockchain gaming and digital assets. “A year ago, we wouldn’t have even considered a US listing,” said Siu. He believes this is the perfect moment to take the company public, before the political winds change again.
Trump’s policies are already pulling in major players. Firms like Deribit, the top crypto options exchange, and Kraken—a US crypto platform partially owned by Animoca—are now reconsidering the US as a top destination for growth.
From Delisting to Dominance: Animoca’s Crypto Comeback
In 2020, Animoca was removed from the Australian Securities Exchange due to concerns over compliance and the nature of its digital assets. However, instead of stepping back, the company reinvented itself.
It expanded its reach across the crypto industry, investing in high-profile blockchain companies and offering advisory services to support other projects navigating the world of decentralized finance.
Animoca’s portfolio now includes major investments in OpenSea (the top NFT marketplace), Kraken, and Consensys—a key player in the Ethereum ecosystem.
The company is also betting big on blockchain gaming, predicting that upcoming gaming consoles and blockbuster releases like Grand Theft Auto VI will drive the use of in-game crypto payments and NFTs.
Animoca’s financials back up its ambitions. In 2023, it generated $314 million in revenue and saw its EBITDA jump to $97 million from $34 million the previous year. It also holds $300 million in cash and stablecoins and $538 million in digital assets.
Siu says Animoca is the largest non-financial crypto firm globally. The planned IPO in New York is expected to cement its leadership role in the digital asset and Web3 space.
