Circle Acquires Interop Labs, So Why Did Axelar (AXL) Price Dip?

Stablecoin issuer Circle has acquired Interop Labs, the initial developer of the Axelar network. This deal excludes the Axelar Network, Foundation, and AXL token, which will continue to operate independently. Common Prefix will take over development responsibilities. Circle to Bring Interop Labs Team and Technology In-House Circle, the company behind the second-largest stablecoin USDC, announced that it has entered into an agreement to acquire Interop Labs’ team and proprietary technology source: https://beincrypto.com/circle-axelar-acquisition-axl-token-crash/