Hong Kong-Based Web3 Giant Sees “Unique Moment” to Enter U.S. Markets
Animoca Brands, the Hong Kong-based Web3 investment firm behind high-profile holdings like OpenSea, Kraken, and Consensys, is preparing for a public listing in New York, according to an interview with executive chairman Yat Siu in the Financial Times.
Siu said the company is currently reviewing potential shareholding structures and may announce formal plans in the near future. He emphasized that the decision is less about short-term market sentiment and more about long-term strategic positioning.
“This is a unique moment in time,” Siu stated. “Not taking advantage of it would be one heck of a wasted opportunity.”
Trump’s Crypto-Friendly Agenda Fuels Confidence
Siu directly cited the crypto-friendly stance of U.S. President Donald Trump as a key factor influencing the decision to pursue a U.S. listing. He contrasted the current environment with that under former President Joe Biden, where crypto companies faced aggressive enforcement actions and legal uncertainty.
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Under Trump’s administration, the SEC has dropped or paused more than a dozen enforcement actions.
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The Department of Justice has dissolved its crypto enforcement unit.
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The administration is signaling a desire to attract global crypto innovators to the U.S.
This regulatory shift has already prompted moves from major players. OKX announced plans to establish a U.S. headquarters in California, and Nexo recently revealed it will reenter the U.S. market, after exiting in 2022 due to unclear compliance standards.
Animoca’s Financial Strength and Global Reach
Delisted from the Australian Securities Exchange in 2020 over governance concerns and the classification of certain digital assets, Animoca has since built one of the largest crypto-native portfolios in the world.
According to Siu:
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Animoca holds $300 million in cash and stablecoins
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It manages over $538 million in digital assets
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The company recorded $314 million in 2024 revenue, with $97 million in earnings (unaudited)
“We’re the largest non-financial crypto company globally,” Siu told the FT.
He also hinted that other Animoca portfolio companies, including U.S.-based Kraken, may also pursue listings in the U.S. as early as 2025 or 2026.
Final Thoughts: Regulatory Reset Creates Opening for Global Crypto Leaders
Animoca’s decision to target a New York listing underscores growing confidence that the U.S. is reemerging as a viable home for digital asset firms. Under a Trump-led administration, the shift in tone has been swift — moving from enforcement-heavy scrutiny to pro-business, pro-innovation engagement.
If Animoca successfully lists in the U.S., it could set the tone for a new wave of public Web3 companies, bringing fresh capital and legitimacy to the space — while demonstrating that regulatory clarity can unlock global investment and innovation.
