Animoca Brands Plans Nasdaq Listing Amid Crypto Market Challenges

According to PANews, Animoca Brands co-founder Yat Siu has highlighted potential mispricing in the crypto market by 2025 due to overreliance on U.S. President Donald Trump's policies. Siu noted that Bitcoin could face its fourth annual decline, as Trump's priorities, such as tariffs and trade wars, impact risk assets. However, these are not the primary focus for cryptocurrencies. Siu revealed that Animoca Brands intends to go public through a reverse merger with Nasdaq-listed fintech company Currenc Group, with Animoca holding 95% of the merged entity. The company aims to serve as a proxy for altcoins in the public market, offering investors diversified exposure to altcoins and Web3 assets. Currently, Animoca Brands has over 620 portfolio companies and added around 100 new projects last year. For the 2024 fiscal year, the company reported unaudited bookings of $314 million and has achieved EBITDA profitability for four consecutive years. With key U.S. legislation like the Clarity Act and GENIUS Act establishing a regulatory framework, the industry will be compelled to focus on compliance and practical applications by 2026. The increased legal certainty is expected to prompt existing companies to launch tokens related to their businesses, shifting the market's focus from speculation to problem-solving products. The year 2026 is anticipated to be the year of utility tokens, with each issued token having a clear use case.