Latest news with #AnimocaBrands
National Post
3 days ago
- Business
- National Post
DDC Enterprise Announces Up to $528 Million Raise to Accelerate Bitcoin Treasury Strategy
Article content Landmark Funding Dedicated Exclusively to Bitcoin Acquisition Positions DDC to Become a Global Leader in Bitcoin Holdings Article content NEW YORK — DDC Enterprise Limited (NYSE: DDC) ('DDC' or the 'Company') today announced it has entered into three securities purchase agreements for a total of up to $528 million of gross proceeds to the Company, before placement agent fees and offering expenses. Investors include Anson Funds, Animoca Brands, Kenetic Capital, QCP Capital, and a network of leading institutional funds and individual Bitcoin investors. Substantially all of the capital raise will be dedicated to expanding the Company's Bitcoin treasury. This transformative financing, among the largest single-purpose Bitcoin raises by any NYSE-listed company, is expected to accelerate DDC's mission to establish one of the most valuable corporate Bitcoin holdings. Article content $26 Million Equity PIPE Investment The Company has entered into subscription agreements with premier investors including Animoca Brands, Kenetic Capital, QCP Capital, Jack Liu, Matthew Liu (Co-Founder, Origin Protocol), and other leading institutional funds and individual Bitcoin investors. Subject to standard closing conditions, DDC expects to issue up to 2,435,169 Class A Ordinary shares at an average price of $10.30 per share. The shares will be restricted for 180-days. $300 Million Convertible Secured Note and $2 Million Equity Private Placement With Anson Funds as the investor, an institutional investment firm with offices in the United States and Canada, the convertible secured note accrues no interest and will mature in 24 months. Pursuant to the Facility, the Company will issue a note in the aggregate principal amount of $25 million as its first tranche, with additional capacity of up to $275 million available in subsequent drawdowns upon mutual agreement of the parties. Anson Funds is also purchasing 307,693 Class A Ordinary shares for $2 million in a concurrent private placement. $200 Million Equity Line The $200 million equity line of credit ('ELOC'), also secured with Anson Funds, is designed to offer DDC maximum flexibility in accessing capital for dedicated BTC stacking. With the ELOC, upon its future commencement following registration, the Company can optimize market timing and can consistently make BTC purchases over time at management discretion. Substantially all of the gross proceeds from the financings will be deployed to acquire Bitcoin. Article content Statement from Norma Chu, Founder, Chairwoman & CEO of DDC Enterprise Article content 'Today is a defining moment for DDC Enterprise and our shareholders. This capital commitment of up to $528 million, backed by respected institutions from both traditional finance and the digital asset frontier, represents a strong mandate to execute an ambitious corporate Bitcoin accumulation strategy globally. Our vision is unequivocal: we are building the world's most valuable Bitcoin treasury.' Article content Ms. Chu, continued, 'This funding is expected to propel DDC into one of the top global corporate Bitcoin holders. This investment by Anson Funds and the group of PIPE investors is a resounding validation of Bitcoin's important role in future corporate balance sheets. At DDC, we will deploy this capital with institutional discipline and unwavering conviction, cementing our position as the premier bridge between global capital markets and the Bitcoin ecosystem. DDC Enterprise is strongly positioned as the definitive publicly-traded vehicle for concentrated Bitcoin exposure and value creation. My focus will be on growing our BTC treasury and delivering attractive BTC yield consistently for our shareholders.' Article content Maxim Group LLC acted as the exclusive financial advisor in connection with the offering. The closings of the financings are subject to the satisfaction of customary closing conditions. Article content This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. Article content About DDC Enterprise Article content DDC Enterprise Limited (NYSE: DDC) is spearheading the corporate Bitcoin treasury revolution while maintaining its foundation as a leading global Asian food platform. The Company has strategically positioned Bitcoin as a core reserve asset, executing an aggressive accumulation strategy. While continuing to grow its portfolio of culinary brands – including DayDayCook, Nona Lim, and Yai's Thai – DDC is now at the vanguard of public companies integrating Bitcoin into their financial architecture. Article content Certain statements in this announcement are forward-looking statements. Article content Investors can identify these forward-looking statements by words or phrases such as 'may,' 'will,' 'expect,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'is/are likely to,' 'potential,' 'continue' or other similar expressions. Examples of forward-looking statements include those related to business prospects, accumulation of Bitcoin, and the Company's goals and future activity under the financing transactions described above, including the statements on the closings of the offerings and the satisfaction of closing conditions and use of proceeds in the offerings. These statements are subject to uncertainties and risks including, but not limited to, the risk factors discussed in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our Forms 20-F, 6-K and other reports, including a Form 6-K which with copies of the definitive documents related to the above transactions, to be filed with the Securities and Exchange Commission ('SEC') and available at Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. Article content Article content Article content Article content Contacts Article content For Bitcoin Investor Relations: Article content Article content Yujia Zhai | Article content Article content Article content
South China Morning Post
05-06-2025
- Business
- South China Morning Post
Stablecoin law reflects unique position of Hong Kong
Hong Kong made a forward-looking move on digital assets last month by passing a landmark law to regulate the market for stablecoins. Such a regime, which is well ahead of many jurisdictions in Asia and North America, will help bolster public confidence in this popular and fast-growing financial sector. It showcases the city's crucial role in experimenting and rolling out financial schemes separate from the mainland under 'one country, two systems'. Advertisement A stablecoin is so called because it is pegged to a fiat currency such as the US dollar or Hong Kong dollar. Worldwide, stablecoin trading volume hit US$27.6 trillion last year, surpassing the combined volume of Visa and Mastercard transactions over the same period. Hong Kong has stolen a march on this huge and rapidly growing market. Under the regulatory regime, stablecoin issuers will be licensed by the Hong Kong Monetary Authority (HKMA), and only they will be able to advertise their digital coins. Details of the regulatory regime, such as reserve requirements, client asset segregation, risk management and disclosure still have to be worked out. At least three firms – Standard Chartered, Hong Kong Telecom and Animoca Brands – plan to set up a joint venture to issue a Hong Kong dollar-backed stablecoin under licence from the HKMA. They will be able to sell the digital asset, and the public may use them for retail transactions and trade them on virtual-asset exchanges that may offer investible assets. So far, the city has approved 10 such exchanges under the Securities and Futures Commission. Unlike a central bank digital currency (CBDC), which has regulated uses in the form of digital yuan on the mainland and e-HKD in Hong Kong, stablecoins are issued by qualified commercial concerns. And unlike decentralised block-chained cryptocurrencies such as bitcoin, both forms of CBDCs and stablecoins are highly regulated and therefore inherently deter money laundering. Advertisement With proper regulations in place, digital assets can form and expand as part of the city's highly efficient and diversified trade and financial ecosystems. While some industry players have voiced concerns about potentially onerous regulations, there needs to be a balance between being pro-market and protective of the public. Hong Kong regulators are well placed to achieve both.
Yahoo
14-05-2025
- Business
- Yahoo
Exclusive: Animoca's Yat Siu says bank-backed stablecoins will drive mass adoption
At TOKEN2049, Yat Siu, co-founder and chairman of Animoca Brands, joined TheStreet Roundtable host Scott Melker to talk about the future of stablecoins — and why Hong Kong's new approach could reshape adoption around the world. 'We're also moving into space. Part of it is Animoca Brands becoming more institutional. We have a joint venture with Standard Chartered... and HKT, the largest telco in the region, to launch a stablecoin,' Siu said. The total stablecoin market capitalization stands at $244.99 billion, down 0.5% in the last 24 hours. Daily trading volume reached $78.05 billion, reflecting steady market activity. Stablecoins remain a key pillar of crypto liquidity and cross-border transactions. What makes this stablecoin unique? It's licensed by the Hong Kong Monetary Authority, which Siu noted 'probably makes it the very first central bank issued.' Siu explained the global importance of Hong Kong's role. 'Hong Kong has always been a financial gateway for China, both in and out... For instance, if you look at what we call Dim Sum bonds... Hong Kong basically does about two plus trillion dollars of renminbi a day.' He added, 'A stablecoin issued from there is... a way to basically make Hong Kong remain a relevant financial centre.' But it's also about trust. While praising leaders like Tether and Circle, Siu said mass adoption will come when everyday users see banks behind the coins. 'Having the person who doesn't know much about crypto in the first place say, okay, I'm using a token that is backed by the dollar. Can I trust it? If it comes from a bank... your regular user... they're like, oh, okay, I can trust the bank.' Melker pointed out that in the U.S., lawmakers may soon require stablecoin issuers to be banks. 'There's actually been some fear... legislation could specify that you have to be a bank to issue a stablecoin... we are a hundred percent heading to a future where we have Goldman Coin and BNY Mellon Coin and JP Morgan coin, which actually exists.' Siu agreed and said geopolitics is a major factor. 'The seventh largest T-bill buyer last year I think was Tether... If you think about dollar hegemonic money... how do you make sure it's the currency of choice? I think stablecoins is the answer.' Importantly, he clarified. 'It's not a CBDC... The Hong dollar is actually backed by the US dollar... so in a way, the Hong Kong dollar was probably the OG stablecoin.' U.S. Treasury Secretary Scott Bessent criticized the Senate on Thursday for rejecting the GENIUS Act, a proposed stablecoin regulation bill, calling it a 'missed opportunity' for the U.S. to lead in digital asset innovation. 'For stablecoins and other digital assets to thrive globally, the world needs American leadership,' Bessent posted on X. 'The Senate missed an opportunity to provide that leadership today by failing to advance the GENIUS Act.' He described the bill as a 'once-in-a-generation opportunity' to bolster dollar dominance and strengthen U.S. influence in financial technology, warning that without federal regulation, innovation could shift offshore. The Senate voted 49-48 to block the bill, with Republicans Josh Hawley and Rand Paul siding with Democrats amid disputes over bill language and oversight provisions. Lawmakers expressed concern over anti-money laundering terms and foreign issuer restrictions. Tensions were heightened by President Trump's deepening ties to crypto, including memecoin launches, high-priced fundraisers, and backing a DeFi project with its own stablecoin. Bessent concluded, 'Senators who voted to stonewall U.S. ingenuity today face a simple choice: Either step up and lead or watch digital asset innovation move offshore.' Sign in to access your portfolio
Arabian Post
13-05-2025
- Business
- Arabian Post
Animoca Brands Eyes New York Listing Amid Shifting U.S. Crypto Landscape
Hong Kong-based blockchain firm Animoca Brands is preparing for a public listing on a U.S. stock exchange, capitalising on what its leadership describes as a 'unique moment' created by President Donald Trump's more accommodating stance toward digital assets. The company, known for its investments in Web3 gaming and decentralised finance, is exploring various shareholding structures and aims to finalise its plans in the near future. Executive Chairman Yat Siu indicated that the decision to pursue a U.S. listing marks a significant shift from the company's previous position. Under the Biden administration, stricter regulatory measures had deterred Animoca from entering the American market. However, the current administration's efforts to position the U.S. as a global hub for digital assets have altered the landscape. 'It's a unique moment in time,' Siu remarked, emphasising the strategic importance of accessing the world's largest capital market. Animoca Brands, which was valued at nearly $6 billion in 2022, reported unaudited revenues of $314 million for the year ending December 31, 2024. The company's earnings before interest, taxes, depreciation, and amortisation stood at $97 million. Its financial reserves include approximately $293 million in cash and stablecoins, alongside $538 million in digital assets. These figures reflect a robust financial position as the company considers re-entering public markets after its delisting from the Australian Securities Exchange in 2020. The potential listing aligns with a broader trend of crypto-focused companies seeking to establish a presence in the U.S. market. Notably, American Bitcoin, a cryptocurrency mining firm backed by Eric and Donald Trump Jr., announced plans to go public through a merger with Gryphon Digital Mining. This move underscores the growing influence of pro-crypto sentiments within the current administration and the opportunities they present for blockchain enterprises. See also ARK Invest Projects Bitcoin to Reach $2.4 Million by 2030 Animoca's portfolio includes investments in over 540 companies, with stakes in prominent entities such as OpenSea, Kraken, and Consensys. The firm's diverse holdings span various sectors within the digital asset ecosystem, reinforcing its position as a significant player in the industry. Siu highlighted the company's unique approach, stating, 'We think we're the biggest non-financial services crypto firm,' and emphasised the importance of showcasing innovation beyond traditional financial services through a public listing. The company's Digital Asset Advisory business experienced substantial growth, generating $165 million in bookings for 2024, a 116% increase year-over-year. This segment provides services such as token advisory, marketing, and trading support, contributing significantly to Animoca's revenue streams. Additionally, the firm reported $110 million in bookings from its Web3 operating businesses and $39 million from investment activities. Arabian Post – Crypto News Network
The National
29-04-2025
- Business
- The National
Axie Infinity investor Animoca plans to fund UAE start-ups as it debuts in Middle East
Venture capital and software company Animoca Brands is planning to set up funds for UAE start-ups as it makes its debut in the Middle East, its newly-appointed regional head has said. The Hong Kong-based Web3-oriented firm, which reportedly has a value of about $6 billion, will open its first regional office in Dubai, with plans to bridge the gaps in financing, market access and mentorship that start-ups are facing, said Omar Elassar, managing director for the Middle East and head of global strategic partnerships at Animoca Brands. Web3 is the third stage of the World Wide Web's evolution that uses the capabilities of artificial intelligence, machine learning and blockchain to make the internet smarter. 'There is definitely a high concentration of capital and investors [in the UAE], liquidity providers who are sitting on the sidelines that maybe have been burnt in the past and are waiting for an institutional grade platform to come in. So, that's where we really do see an opportunity; we will be looking to launch a liquid fund and a venture-style investing fund,' Mr Elassar told The National. The size of the funds have yet to be determined, he added. 'In terms of founder enablement, we're going to be supporting some of the start-ups and the more established crypto companies [in the UAE] through investment, through ecosystem advisory and through infrastructure,' Mr Elassar said. The strategy would branch out into strategic and commercial expansion, with Animoca planning to work 'with some of the corporates the government and regulators to drive high impact, real world use cases', he said. Animoca, which is also a gaming company, has four major business lines aimed at start-ups – advisory, incubation, investments and institutional applications. It has investments in more than 540 companies, including in Sky Mavis, the developer of the popular blockchain game Axie Infinity. It also has a regulated stablecoin project in partnership with Standard Chartered and Hong Kong Telecom. Animoca's bookings – a measure of total sales and income generating activity – from Web3 operating businesses of subsidiaries and projects incubated by the company hit $110 million in 2024, the company reported in March. While that is down from the $182 million it posted in 2023, overall bookings for last year grew more than 12 per cent annually to $314 million, anchored by its digital asset advisory business that surged 114 per cent year-on-year to $165 million, it said. Investment activity, meanwhile, jumped more than 85 per cent to $39 million. While Animoca's Dubai office will officially mark its entry into the Middle East, this will not be the first time it will have a footprint in the region: in October 2023, it partnered with Saudi Arabia's Neom Company for a $50 million investment to support Web3 programmes. The Emirates and the kingdom will be, for now, Animoca's focus, and any expansion into other countries in the region will be explored, according to Mr Elassar. 'The Middle East is a big place and there are definitely other interesting markets … there's a lot of work to do [in the UAE and Saudi Arabia] for the time being – but I wouldn't take anything off the table,' he said. The UAE has continuously extended its support to start-ups, which are playing a key role, working to pitch and develop new ideas using the latest innovations to solve real-world problems. Start-ups in the Emirates raised about $619 million in 2024, second in Mena behind only Saudi Arabia's $750 million and part of an overall $1.9 billion in the region, according to Dubai-based data platform Magnitt. 'The UAE is a springboard for global business, and this market is very well positioned to influence how the Web3 industry really shapes up,' Mr Elassar said.
