Animoca Brands drops reverse merger for Nasdaq listing, rethinks U.S. market debut

Web3 investor Animoca Brands has ended reverse merger talks with Singapore-based Currenc Group (CURR) for a Nasdaq listing, CoinDesk reported. The two companies had been discussing a merger since late last year, and Animoca Brands was originally set to own 95% of the merged entity once the deal closed. The companies decided to halt negotiations after concluding the expected timeline to complete the transaction did not align with their respective goals. Co-founder Yat Siu said Animoca Brands would continue exploring the best option for an initial public offering.