Web3 investment firm Animoca Brands has halted negotiations for a reverse merger with Singapore-based Currency Group (ticker: CURR), which it was pursuing for a Nasdaq listing, CoinDesk reported. The two companies had been discussing the merger since late last year, and initially, Animoca Brands was expected to hold 95% of the merged entity upon completion of the deal. However, both parties decided to stop negotiations, concluding that the expected timeline for completing the transaction did not align with their respective goals. In this regard, Yat Siu, co-founder of Animoca Brands, stated that the company will continue to seek the optimal path for an initial public offering (IPO).
