Circle’s purchase of Interop Labs’ team and IP omits the Axelar Network and AXL token, highlighting crypto M&A’s focus on talent and technology rather than tokenholder benefits.
Circle has signed an agreement to acquire the team and proprietary intellectual property of Interop Labs, the core developer behind the Axelar Network, while explicitly excluding the AXL token and the network itself. Following the announcement, AXL fell by as much as 13% as traders realized the deal provides no direct economic benefit to tokenholders. Common Prefix will take on a larger role in maintaining Axelar’s ecosystem. The move underscores a trend in crypto M&A where buyers target engineering talent and technology for enterprise and infrastructure goals, leaving associated tokens unaffected unless structurally tied to the transaction.