Will the 2025 crypto market misjudge Bitcoin? Insights from Animoca's funding and the first year of utility tokens

【ChainNews】Bitcoin may face a rare annual decline this year. Some industry insiders believe that the market has been hyped up by Trump’s policies, with excessive focus on tariffs and trade wars, while neglecting the fact that cryptocurrencies are not actually on his priority list. As a result, the entire market pricing has become distorted.

Interestingly, Animoca Brands is planning to go public through a reverse merger with a Nasdaq-listed fintech company. After the merger, Animoca will control 95% of the merged entity’s shares. Their goal is clear — to become a meme coin and Web3 asset allocation tool in the public market, allowing ordinary investors to easily access diversified crypto assets.

On the financial side, Animoca Brands has invested in over 620 companies, adding about 100 new projects last year. The booked revenue for fiscal year 2024 reached $314 million, maintaining EBITDA profitability for four consecutive years, which is considered a solid performance even in the venture capital circle.

More importantly, regulatory frameworks such as the US “Clear Act” and “Genius Act” are gradually becoming clearer. By 2026, the increased legal clarity will force the entire industry to re-examine compliance and practical applications. It is expected that by then, market focus will shift from pure speculation to products that truly solve problems. Every newly issued token will need to have a clear use case — in other words, 2026 is very likely to be the year when utility tokens truly take off.