- Animoca Brands weathered the crypto storm, holding $291 million in cash and stablecoins.
- The firm’s digital assets skyrocketed to $558 million.
- Animoca has $1.8 billion worth of token reservoirs in its Web3 subsidiaries.
Crypto crunch? not for these folks!
Animoca Brands, the Hong Kong-based firm, appears to have navigated the tumultuous cryptocurrency market of 2023.
Unaudited figures up to March 31, 2024, reveal the company holds a staggering US$291 million in cash and stablecoins – a significant increase from the US$194 million held as of April 30 last year.
In addition to its cash reserves, Animoca said it holds US$558 million in digital assets on its balance sheet.
Digits gone digital
This sum partly stems from recent investments and token launch efforts, which bolstered the company’s digital portfolio by US$266 million since December 2023.
Beyond its balance sheet holdings, Animoca boasts US$1.8 billion worth of token reservoirs within its Web3 subsidiaries. The company also announced a strategic partnership with Hi Protocol in July 2023, involving a US$30 million commitment.
Furthermore, Animoca recently expanded its MENA footprint by investing in Param Labs, a multiplayer blockchain gaming firm.
To read the original article: https://www.techinasia.com/animoca-brands-publish-unaudited-financial-reports-turbulent-2023
