US-focused IPO on the horizon for Animoca Brands, with potential listings in Asia and the Middle East sought
Goes Public in NYC: Animoca Brands Deems U.S. Market Golden Opportunity
In an exclusive interview with the Financial Times, Animoca Brands co-founder and exec chair Yat Siu revealed their ambitions for a US Initial Public Offering (IPO). The Hong Kong-based Web3 powerhouse is aiming to tap into the world's largest market, lured by Trump's favorable stance on digital asset regulation.
Animoca Brands Takes Aim at Wall Street
Yat Siu expressed that this could be a "unique moment" to enter the US capital market, excited about the prospects the nation offers. The listing won't hinge on market conditions, highlighting the company's commitment to the move.
When asked about the decision to bypass Hong Kong or Middle Eastern listings, Siu felt it would be a missed opportunity not to explore the US market. The main attraction is the country's favorable regulatory environment under the Trump administration.
The pivot to Wall Street follows initial explorations of public offerings in Hong Kong or the Middle East by early 2025. The shift away from the Middle East, once seen as a pro-crypto region, reflects Animoca's belief that the US offers better prospects.
U.S. Embraces Crypto Firms Amidst Regulatory Shifts
The migration of crypto firms to the US isn't unique to Animoca Brands. Trump's pro-crypto policies have invited the likes of Deribit, the world's largest crypto options exchange, to set up shop. Companies such as Gemini and Kraken have even filed for IPOs, with Gemini aiming for a public debut.
Trump's stance on cryptocurrency overshadows the regulatory actions initiated during President Biden's term, reversing optimism in the digital asset market.
Animoca's IPO plans mark a significant shift in the company's relationship with public markets. In 2020, concerns over governance and legal status of crypto holdings led to the company being delisted from the Australian Stock Exchange (ASX). However, Animoca has since reinvented itself as a major investor in the Web3 space, owning stakes in over 540 companies including OpenSea and Kraken exchange.
Benefits of Listing in New York
According to Siu, the IPO isn't just about raising capital. He emphasizes that it aims to communicate Animoca's distinct position within the crypto industry, focusing on non-financial services and eschewing traditional crypto practices.
Revenues for 2024 saw Animoca report unaudited EBITDA of $97 million on $314 million in revenue, representing a 185% jump from the previous year. The company's cash and stablecoin reserves amount to nearly $300 million, with digital assets valued at $538 million. Data from Cryptorank.io reveals that Animoca is among the most active investment firms in the crypto space.
The recent launch of Moca Coin, backed by Animoca's growing metaverse and GameFi ambitions, has further increased attention towards the company. Animoca's IPO in New York could be a landmark moment, signaling a shift in Web3 innovation amidst ever-changing regulatory tides.
Trade Crypto Futures with Plus500
- 0% Commission Bonus - Receive up to $200 in rebates.
- Effortless Trading - Easily execute trades in minutes.
- Bitcoin Volatility Capitalization - Harness the volatility of the world's most influential crypto.
Join Plus500 Now!
Enrichment Data:
Overall:
The recent wave of crypto firms moving towards public listings in the US has seen significant momentum, with Animoca Brands opting for the New York Stock Exchange (NYSE). This shift is driven by the Trump administration's pro-crypto regulations, providing Animoca with an opportunity to expand its footprint in the world's largest capital market.
Key Points about Animoca Brands' IPO Decision:
- Objective: Animoca Brands is capitalizing on the Trump administration's supportive stance towards cryptocurrency, viewing the US market as a promising expansion opportunity [1][3][5].
- Financial Standing: Having raised a near-record $6 billion, Animoca's performances in 2024 saw its EBITDA reach $97 million on $314 million in revenue. The company's investments in prominent crypto projects such as OpenSea and Consensys are worth noting [1][5].
- Regulatory Climate: The shifting regulatory landscape in the US under the Trump administration, marked by a more favorable approach to cryptocurrencies, has been a crucial factor in Animoca Brands' IPO plans [2][4].
- Planned Announcement: Animoca Brands is expected to formally announce its IPO intentions soon, targeting US investors and seeking funds for future projects [1][5].
Impact on the Crypto Industry:
- Capital Access: Listing on the NYSE could grant Animoca unprecedented access to a vast pool of institutional and retail investors, potentially breaking its previous valuation of nearly $6 billion [5].
- Market Confidence: Animoca's decision to go public may help boost investor confidence in the crypto industry, prompting other companies to follow suit, such as Kraken [1].
Overall, Animoca Brands' decision underscores the growing optimism among crypto firms towards the US market under the current regulatory environment.
- Animoca Brands, a Web3 powerhouse, is aiming to tap into the US market through an Initial Public Offering (IPO), according to Yat Siu, the company's co-founder and exec chair.
- Siu believes that this could be a "unique moment" to enter the US capital market, attracted by Trump's favorable stance on digital asset regulation.
- The move away from potential listings in Hong Kong or the Middle East reflects Animoca's belief that the US offers better prospects due to its regulatory environment.
- The decision comes amidst a wave of crypto firms moving towards public listings in the US, with Deribit, Gemini, and Kraken already filing for IPOs.
- The company's IPO plans mark a significant shift in Animoca Brands' relationship with public markets, having been delisted from the Australian Stock Exchange (ASX) in 2020.
- Animoca Brands has since reinvented itself as a major investor in the Web3 space, owning stakes in over 540 companies, including OpenSea and Kraken exchange.
- The pivot to Wall Street isn't just about raising capital; it aims to communicate Animoca's distinct position within the crypto industry, focusing on non-financial services and eschewing traditional crypto practices.
- The company's IPO could signal a shift in Web3 innovation amidst ever-changing regulatory tides, potentially inspiring other crypto firms to follow suit.
