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Circle Acquires Interop, Leaves AXL Holders Behind

🔗 Circle Acquires Interop Labs Team Only
Acquisition Details: Circle announced on December 15 the agreement to acquire the Interop Labs team and proprietary intellectual property. Interop Labs served as initial core developers for the Axelar Network. The transaction is expected to close in early 2026. Sergey Gorbunov, Interop Labs CEO, stated: “We’re incredibly proud of what we've built with Axelar and excited to see our team and technology become a core part of Circle’s interoperability strategy.” Nikhil Chandhok, Circle’s Chief Product and Technology Officer, noted the acquisition will accelerate Arc and CCTP development. No financial terms were disclosed.
Scope Limitations: The deal includes only the Interop Labs team and proprietary IP. It explicitly excludes the Axelar Network, Axelar Foundation, and AXL token, which remain independent, open-source, and community-governed. Open-source contributions will transition to the Common Prefix team for ongoing maintenance. AXL token holders receive no direct benefits, equity, or proceeds from this transaction. Circle emphasized commitment to broader interoperability while clarifying the narrow scope of the acquisition.
Market Context: Following the announcement, the AXL token price declined by approximately 13%. This outcome parallels Coinbase’s recent acquisition of Vector technology, where the Tensor marketplace and TNSR token shifted to the independent Tensor Foundation, with around 22% of unvested TNSR supply burned but no direct gains for holders. In contrast, Rainbow wallet’s foundation holds 20% company equity, structured so proceeds would distribute to RNBW token holders in an acquisition event, highlighting concerns over token holders being left behind in similar deals. Read More.
️ On today's Top Picks:
- 👀 Coinbase $COIN to host System Update event.
- 🌈 Rainbow $RNBW to announce TGE & airdrop date.
- 🌊 OpenSea $SEA to unlock Wave 3 of Treasure Chests.
- 🔎 ZachXBT alleges edgeX is “linked to the MEXC cartel.”
Read time: ⏰ 7 minutes
Crypto News
• ⭐️ Circle $CRCL to acquire Interop Labs, developer of Axelar $AXL; though Axelar Network, Axelar Foundation, & the AXL token are not part of the acquisition.
• ⭐️ Coinbase $COIN to host System Update event on December 17th; to reportedly announce prediction markets & tokenized stocks.
• Ripple $XRP to launch RLUSD on Optimism, Base, Ink, & Unichain; powered by Wormhole’s Native Token Transfers (NTT) standard.
• Bitwise amends Hyperliquid $HYPE ETF filing; finalizes ticker (BHYP) & management fee (0.67%); to potentially begin trading soon.
• Digital Asset Investment Products saw ~$864M in inflows last week; Bitcoin $BTC ~$522M inflows, Ethereum $ETH ~$338M inflows, Hyperliquid $HYPE ~$14M outflows.
• Cronos $CRO appoints Ryan Wyatt as CEO of Cronos Labs; Wyatt was previously President at Polygon Labs & Chief Growth Officer at Optimism.
• Gemini $GEMI launches Gemini Predictions; live across all 50 US States; offering no fees on trades for limited time.
• Startale Group & SBI Holdings partner to launch Yen stablecoin; expected to launch in Q2 2026; Startale recently launched its Startale USD USDSC stablecoin.
• Anchorage Digital acquires Securitize For Advisors (SFA) for an undisclosed amount; SFA is a crypto wealth management platform for registered investment advisors (RIAs).
Alpha
• Daylight to launch Pre-Deposit Vault on December 16th; deposits to be initially capped at $50M & locked for 2 months; earn boosted GRID Games points & more.
• VOOI $VOOI launches support for Lighter perps on VOOI Pro; supports zero-fee trading; VOOI is a perp DEX aggregator backed by YZi Labs.
• Cascade launches limited-time window to join early-access; Cascade is a perps dex that recently announced $15M in funding from several investors.
• Re launches new reUSDe pool on Pendle; earn 30x Re Points & 5x Sats; pool ends (matures) in June 2026; existing pool participants (matures on December 18th) can migrate to the new one.
• ⭐️ OpenSea $SEA to unlock Wave 3 of Treasure Chests on December 17th; Wave 4 of Treasure Chests is now live; TGE & airdrop is expected in Q1 2026.
• Infinex $INX distributes Crates to early Infinex users; claim expires on December 22nd; CrateRun campaign is ongoing.
• MetaMask $MASK launches support for Bitcoin $BTC; MetaMask Rewards points program is ongoing.
• Rainbow $RNBW to launch Polymarket integration on the TestFlight version of the app on December 16th; Rainbow points program is ongoing.
• Zerion teases “Zerion Feed coming soon” on X; also says “Early access begins today”; powered by clicker.
Airdrops
• Aster $ASTER launches Stage 3 airdrop claim; Stage 3 participants are eligible; Stage 4 is ongoing until December 21st.
• ⭐️ Rainbow $RNBW to announce TGE & airdrop date on December 16th; 15% of the total token supply is allocated for the airdrop at TGE.
• Moonbirds $BIRB to launch TGE & airdrop in Q1 2026; Moonbirds NFT holders & more will be eligible.
• Espresso $ESP announces another path to airdrop eligibility; Kaito Capital Launchpad pledgers will be eligible; to launch airdrop registration on December 22nd.
• Infrared $IR launches airdrop eligibility & allocation checker; Infrared points holders, Boyco pre-deposit campaign participants, & more are eligible; claim on December 17th.
• RateX $RTX launches airdrop eligibility & allocation checker; RateX points holders are eligible.
• ICYMI Coinbase adds Lighter $LIGHTER to the listing roadmap; Lighter to potentially launch TGE & airdrop before the end of December; Polymarket currently shows ~90% chance.
• ICYMI Fogo $FOGO to launch airdrop on January 13th; Fogo Flames (points) holders will be eligible; also allocates more of the token supply towards the airdrop after cancelling its public token sale.
Finance News
• Key Events This Week: November Jobs Report on Dec 16th, November CPI Inflation data on Dec 18th, & October PCE Inflation data on Dec 19th.
• Nasdaq to file with the US SEC for 23-hour weekday trading of US stocks; expected to launch in Q2 2026.
• CME Group launches Spot-Quoted Ripple $XRP & Solana $SOL futures; CME also supports Spot-Quoted Bitcoin $BTC & Ethereum $ETH futures.
• Strategy $MSTR buys an additional 10,645 Bitcoin $BTC for ~$980M at ~$92K per BTC; now holds 671,268 BTC (~$58B) acquired for ~$50B at ~$75K per BTC.
• Bitmine $BMNR buys an additional 102,259 Ethereum $ETH (~$304M); now holds 3,967,210 ETH (~$11.8B); also holds $1B of cash.
• Tether's $1.3B offer to buy Juventus football club rejected; Exor said it has “no intention of selling any of its shares”; Tether still owns a minority stake of over 10%.
Security and Exploits
• @tayvano_ warns (again) that DPRK threat actors are still hacking & exploiting users via fake Zoom/Teams calls.
• ⭐️ ZachXBT alleges edgeX is “linked to the MEXC cartel” & “my working theory on who attacked HL via Jelly Jelly / Zerebro”; the founder of edgeX rejects these claims.
• Aevo’s $AEVO legacy Ribbon DOV vaults exploited for $2.7M due to oracle upgrade; team advises Ribbon vault depositors to withdraw their funds.
• Google $GOOG to shut down Dark Web Monitoring Tool in February 2026; says “While the report offered general information, feedback showed that it didn't provide helpful next steps.”
• Telegram launches support for passkeys; advises that users should still maintain an active phone number linked to their accounts due to legacy dependencies in the platform's architecture.
Token Unlocks
• Starknet $STRK / ~$13M / DEC 15th
• Sei $SEI / ~$7M / DEC 15th
• Arbitrum $ARB / ~$18M / DEC 16th
• ZKsync $ZK / ~$5M / DEC 17th
• ApeCoin $APE / ~$3M / DEC 17th
• LayerZero $ZRO / ~$36M / DEC 20th
Sourced from Tokenomist
Funding
• YO raises $10M in Series A funding led by Foundation Capital.
• Space raises $3M in Seed & Strategic funding from several investors.
• SemiLiquid raises an undisclosed amount in funding from Oasis.
The Degen Farmer
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| PROTOCOL | ASSETS | APY |
|---|---|---|
| USDC | 41.36% | |
| IUSD | 33.68% | |
| USDTUSDC | 31.10% | |
| LVUSDCUSDC | 20.26% | |
| HYPERWILDCATPRIVATE1USDT | 20.00% | |
| USD1USDC | 17.93% | |
| USD₮0 | 17.82% | |
| USDC | 17.25% |
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That’s it for today’s edition! See you soon.


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