Animoca Brands and Currenc Group suspend reverse merger talks, keep major-exchange listing plan
Animoca Brands and Nasdaq-listed Currenc Group suspended their proposed reverse merger, saying the extra closing time no longer fit either company's plans.
Why it matters
The suspended merger leaves Animoca, removed from the Australian Securities Exchange in March 2020, still seeking a route back onto a major exchange, a goal it says it will keep pursuing. CryptoSlate reported that the expired exclusivity period leaves Currenc free to pursue financing for growth and operations. CoinDesk reported Currenc shares fell 0.93% in after-hours trading Monday.
Where the sources disagree
Deal announcement date
Non-binding term sheet outlined Nov. 2, 2025
CryptoSlate
Deal first announced Nov. 3, 2025
CryptoPotato, Crypto News (CryptoNews.net)
CryptoSlate dates the transaction to a non-binding term sheet outlined on Nov. 2, 2025, while CryptoPotato (followed by its syndicator Crypto News) says the deal was first announced on Nov. 3, 2025.
Key facts
Animoca Brands and Nasdaq-listed Currenc Group suspended talks on their proposed reverse merger.
Reported by Crypto.News
Both companies described the pause as mutual, driven by the deal's projected closing timeline and changing market conditions.
Reported by Crypto.News
Under the proposed transaction, Animoca shareholders would have owned about 95% of the combined Nasdaq-listed company, leaving Currenc investors with roughly 5%.
95 %Reported by Crypto.News
Animoca said it remains committed to securing a listing on a major public exchange.
Reported by Crypto.News
The two companies may resume merger discussions if market conditions and their strategic priorities permit.
Reported by Crypto.News
Animoca issued audited fiscal 2023 financial statements on July 17, 2026 and is now preparing its audited fiscal 2024 statements as a step toward listing compliance.
Reported by Crypto.News
Currenc said in a regulatory filing that its exclusivity period with Animoca had expired without a definitive agreement, a detail reported by CryptoSlate that it says frees Currenc to seek financing.
Reported by CryptoSlate
Sources disagree on when the deal was first announced: CryptoSlate points to a non-binding term sheet dated Nov. 2, 2025, while CryptoPotato and its syndicator Crypto News say it was first announced Nov. 3, 2025.
Disputed figureReported by CryptoSlate
What happened
Animoca Brands and Nasdaq-listed Currenc Group suspended talks on the proposed reverse merger that would have brought Animoca back to public markets, with both calling the pause mutual after reviewing the projected closing timeline and changing market conditions. Under the deal, Animoca shareholders would have held roughly 95% of the combined company. CryptoSlate says Currenc disclosed in a regulatory filing that its exclusivity period with Animoca had expired without a definitive agreement, which frees Currenc to seek other financing. Sources disagree on the deal's start date: CryptoSlate points to a non-binding term sheet outlined on Nov. 2, 2025, while CryptoPotato and its syndicator Crypto News say the deal was first announced Nov. 3, 2025. The two sides left the door open to resume discussions if conditions allow. Animoca says it remains committed to a major-exchange listing and is preparing its audited fiscal 2024 statements after publishing fiscal 2023 numbers on July 17, 2026.
How the story developed
- First report
First report by Crypto.News
Animoca Brands suspends Currenc merger talks, keeps public listing plan
- Update
Crypto.news reports the suspension
First report of the mutual pause; Bitcoin Insider noted that The Block reported the suspension first.
- Independent corroboration
Independently corroborated by Cointelegraph
Animoca puts Currenc merger on ice, delaying its Nasdaq debut
- Update
Cointelegraph and CoinDesk corroborate the suspension
Both outlets reported the mutual decision and the 95% ownership split.
- Update
Currenc and Animoca first outline the reverse-merger deal
CryptoSlate dates the non-binding term sheet to Nov. 2, 2025; CryptoPotato and Crypto News say the deal was first announced Nov. 3, 2025.
- Official statement
Currenc files disclosure on expired exclusivity
CryptoSlate reported that Currenc's regulatory filing stated its exclusivity period with Animoca had lapsed without a definitive agreement.
- Update
CryptoPotato adds audit details
CryptoPotato and Crypto News reported that Animoca issued fiscal 2023 audited financial statements on July 17, 2026 and is preparing fiscal 2024 statements.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 22 Sept 2026, 05:33 UTC: Crypto.News — 1 independent source, 1 reports
- 22 Sept 2026, 06:48 UTC: Cointelegraph — 2 independent sources, 3 reports
- 22 Sept 2026, 09:47 UTC: CoinDesk — 3 independent sources, 4 reports
- 22 Sept 2026, 19:20 UTC: CryptoSlate — 4 independent sources, 5 reports
- 22 Sept 2026, 22:12 UTC: CryptoPotato — 5 independent sources, 6 reports
Affected entities
Also mentioned: United States, Avalanche
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Crypto.News Crypto media | Animoca Brands suspends Currenc merger talks, keeps public listing plan | Original | |
| CoinDesk Crypto media | Animoca Brands delays IPO plans, suspends merger talks with Currenc | Independent | |
| Cointelegraph Crypto media | Animoca puts Currenc merger on ice, delaying its Nasdaq debut | Independent | |
| CryptoSlate Crypto media | Animoca Brands suspends Currenc deal that would have taken it public | Independent | |
| CryptoPotato Crypto media | Animoca Hits Pause on Reverse Merger – But Its Public Listing Ambitions Aren’t Going Away | Independent | |
| Crypto News (CryptoNews.net) Aggregator | Animoca Hits Pause on Reverse Merger – But Its Public Listing Ambitions Aren’t Going Away | Syndicated | |
| Bitcoin Insider Aggregator | Animoca Brands Pauses Currenc Merger That Would Have Made It Public | Aggregated |
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