Axelar token falls 13% after Circle acquires developer team, AXL token excluded from deal

2025-12-16 09:20:30

Source: CryptoNewsNet Original Title: Axelar token falls 15% after Circle deal takes the developer team, leaves AXL behind Original Link: https://cryptonews.net/news/altcoins/32143035/ Axelar’s AXL token fell as much as 13% on Tuesday, according to CoinDesk market data, after stablecoin giant Circle announced it had signed an agreement to acquire the team and proprietary intellectual property of Interop Labs, the initial and core developer behind the Axelar Network.

Circle stated that it has entered into an agreement to bring the Interop Labs team—initial developers of Axelar, a leading interoperability stack—into Circle to accelerate the next chapter of multichain infrastructure development.

The deal explicitly excludes the AXL token and the network itself from the acquisition.

Interop Labs’ engineers and IP will instead join Circle, while Common Prefix, another long-time contributor, is set to assume a larger role in maintaining and developing the Axelar ecosystem.

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