Animoca Brands Charges Toward U.S. IPO as Trump-Era Crypto Thaw Begins

GameFi giant Animoca Brands is making its move—riding the regulatory tailwinds of a Trump administration softening its stance on crypto. The metaverse investor-turned-power player is prepping what could be the most scrutinized IPO since Coinbase hit Nasdaq.

Wall Street’s waiting game: After years of regulatory purgatory, crypto-adjacent firms are suddenly back in favor. Animoca’s pivot to the U.S. market smells like perfect timing—or desperate opportunism, depending on which hedge fund manager you ask.

Behind the hype: The company’s portfolio reads like a who’s who of Web3 (The Sandbox, Axie Infinity), but profitability remains as elusive as a Bitcoin maximalist at an NFT gallery opening. One thing’s certain: bankers are already calculating their fees in ETH.

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.