Moonrock Founder Evaluates Circle's Acquisition of Axelar Team: Excludes Foundation and AXL Token as Equating to "Veiled RUG"

BlockBeats News, December 16th, Moonrock Capital founder Simon Dedic posted on X evaluating Circle's acquisition of Axelar, stating: "Another acquisition, another RUG. Circle acquired Axelar, yet explicitly excluded the foundation and AXL token, which is simply a criminal act. While this may not be legally classified as a violation, it is completely unacceptable morally. If you are a token issuer: either treat it as equity or just don't do it."

Prior to this news, Circle announced the acquisition of Axelar's initial development team, Interop Labs, but Axelar Network, Axelar Foundation, and AXL token are not included in this acquisition.