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Axelar Team Acquired, Token Abandoned: Circle's 'Take the Team, Not the Token' Move Sparks Heated Debate in Crypto Community

Circle, the stablecoin giant, has announced the acquisition of the core team and intellectual property of Interop Labs, the initial development team behind the cross-chain protocol Axelar Network. The move aims to advance Circle’s cross-chain infrastructure strategy and improve interoperability for its core products like Arc and CCTP. However, the acquisition explicitly excludes the Axelar Network itself, its foundation, and its native token AXL, which will continue to operate under community governance. Another contributing team, Common Prefix, will take over Interop Labs' former activities. Following the news, the price of AXL dropped sharply, falling 15% to around $0.115. The “acquire-the-team-but-not-the-token” approach has sparked intense debate within the crypto community. Critics, including VCs and industry figures, argue that the move unfairly disadvantages token holders, who supported the project early on but received nothing from the acquisition. Some have called it a “rug pull” and raised ethical and legal concerns, emphasizing the misalignment between team incentives and token holder interests. Supporters counter that this reflects standard market reality where tokens sit at the bottom of the capital structure—below debt and equity—and aren’t inherently entitled to proceeds in acquisitions. They see Circle’s decision as a rational business move that follows conventional corporate finance hierarchies. The incident highlights a recurring conflict in crypto: the ambiguous legal and economic status of tokens. While often treated as “quasi-equity” during bullish phases, tokens lack formal rights in events like acquisitions or liquidations. The Axelar situation underscores the need for clearer definitions and structures around token rights and incentives.

marsbit12/17 10:05

Axelar Team Acquired, Token Abandoned: Circle's 'Take the Team, Not the Token' Move Sparks Heated Debate in Crypto Community

marsbit12/17 10:05

HashKey crypto exchange sees bumpy Hong Kong debut after $206M IPO

Hong Kong's largest cryptocurrency exchange, HashKey, debuted on the Hong Kong Stock Exchange (HKEX) after raising $206 million in an initial public offering (IPO). The stock opened at HK$6.7 ($0.86) but experienced significant volatility, briefly rising 5% before falling below the IPO price to as low as HK$6.1 ($0.78). The IPO was heavily oversubscribed, with the Hong Kong portion 394 times oversubscribed. HashKey is the first publicly-listed digital asset company in Asia to go public via a Hong Kong IPO. CEO Xiao Feng emphasized the company's commitment to compliance and long-term growth. The listing is part of a broader trend of crypto companies going public in 2025.

cointelegraph12/17 08:56

HashKey crypto exchange sees bumpy Hong Kong debut after $206M IPO

cointelegraph12/17 08:56

Nasdaq Plans to Launch 23-Hour Trading, Paving the Final Stretch for On-Chain Stocks and Tokenized Assets

Nasdaq has submitted a proposal to the SEC to extend U.S. stock trading hours to 23 hours per day, effectively formalizing overnight trading. This move is seen as a step toward preparing the market infrastructure for future 24/7 on-chain stock trading and asset tokenization. Key implications include: - Improved accessibility for retail investors, enabling trading across more time zones without waiting for traditional market hours. - Enhanced performance for on-chain stock platforms (e.g., Ondo Finance, StableStock), as their broker-mediated transactions will align with extended market hours, ensuring smoother and more liquid operations. - Stronger support for DeFi protocols, as near-24-hour official pricing improves oracle reliability for lending, derivatives, and other decentralized applications. - Better risk management for brokers and market makers, who can hedge positions throughout most of the day, leading to smoother pricing and deeper on-chain liquidity. This shift signals accelerating momentum toward on-chain equities and tokenized assets.

marsbit12/17 08:11

Nasdaq Plans to Launch 23-Hour Trading, Paving the Final Stretch for On-Chain Stocks and Tokenized Assets

marsbit12/17 08:11

Farewell to Buying Houses and Stocks: The Younger Generation Embraces Cryptocurrency as the Main Battlefield for Wealth

A new report by Coinbase reveals a significant generational shift in wealth-building strategies in the U.S. Younger investors, including Gen Z and millennials, are increasingly moving away from traditional paths like buying real estate and investing in stocks. Instead, they are turning to alternative assets, particularly cryptocurrencies, as a core component of their financial future. The study, conducted with Ipsos, found that 73% of young investors believe it's harder for their generation to build wealth through conventional means compared to their parents' generation. In response, they are actively diversifying their portfolios, allocating 25% to non-traditional assets like crypto, derivatives, and NFTs—three times the allocation of older investors. Nearly half (45%) of young investors already hold cryptocurrency, viewing it not as a speculative side investment but as a vital tool for catching up financially. They express strong optimism about crypto’s future, with 80% believing it offers financial opportunities outside the traditional system and will play a major role in the future of finance. This shift is driving demand for more innovative, internet-native financial products—such as crypto derivatives, DeFi, and 24/7 trading platforms—and reflects a broader move toward more active, risk-tolerant investment behavior among younger generations.

深潮12/17 07:49

Farewell to Buying Houses and Stocks: The Younger Generation Embraces Cryptocurrency as the Main Battlefield for Wealth

深潮12/17 07:49

Visa Deepens Crypto Push With New Stablecoin Advisory Unit

Visa has launched a new stablecoin advisory service through its Visa Consulting & Analytics division to help banks, fintechs, and merchants integrate stablecoins into payments, treasury operations, and other business processes. The service includes market research, strategy development, technical support, and training via Visa University. Early clients include US financial institutions like Navy Federal Credit Union and Pathward. Visa reports an annualized stablecoin settlement volume of $3.5 billion and supports over 130 stablecoin-linked card programs globally. The move comes as the stablecoin market exceeds $250 billion, reflecting growing institutional and retail adoption.

bitcoinist12/17 07:03

Visa Deepens Crypto Push With New Stablecoin Advisory Unit

bitcoinist12/17 07:03

J.P. Morgan’s $100 mln Ethereum play is live: But markets aren’t convinced

J.P. Morgan has launched its first tokenized money market fund, MONY, on the Ethereum blockchain, seeded with $100 million of its own capital. This signals growing institutional confidence in Ethereum as a financial infrastructure. However, market sentiment remains mixed. Despite increasing participation from institutions and whales, Ethereum ETFs have seen net outflows, with $224 million withdrawn recently. Exchange inflows showed early signs of accumulation but dropped sharply in the last 24 hours. Meanwhile, Ethereum’s circulating supply continues to rise, potentially limiting short-term price gains unless demand accelerates. While developments like MONY may gradually boost demand, near-term optimism remains cautious.

ambcrypto12/17 07:01

J.P. Morgan’s $100 mln Ethereum play is live: But markets aren’t convinced

ambcrypto12/17 07:01

HashKey Holdings Officially Lists on the Main Board of The Stock Exchange of Hong Kong

HashKey Holdings Limited (Stock Code: 3887.HK), a mature integrated digital asset company in Asia, has officially listed on the Main Board of the Hong Kong Stock Exchange, becoming the first publicly listed digital asset company in Hong Kong. This marks a new development phase, strengthening its global presence and long-term strategy. At the listing ceremony, Dr. Xiao Feng, Chairman and CEO of HashKey, emphasized the company's commitment to compliance and its Hong Kong roots. He stated that HashKey will continue enhancing infrastructure capabilities, including security, custody, on-chain execution, and compliance, to build a world-leading digital asset services platform. The global offering attracted significant market attention, with nine cornerstone investors participating, including UBS AM Singapore, Fidelity, and CDH Investments. Since its establishment in 2018, HashKey has adhered to a compliance-first and technology-driven strategy, developing three core business areas: trading facilitation, on-chain services, and asset management. It aims to provide secure, reliable, and compliant digital asset market access for both retail and institutional clients. Looking ahead, under Hong Kong's policy framework promoting phased real-world asset tokenization and digital financial infrastructure development, HashKey will focus on steady growth and continuous innovation. It aims to improve the digital asset infrastructure system within regulatory frameworks, supporting Hong Kong's role as a key hub in the global digital asset landscape.

marsbit12/17 03:58

HashKey Holdings Officially Lists on the Main Board of The Stock Exchange of Hong Kong

marsbit12/17 03:58

Paradigm Bets on Brazil: The New Battleground for Stablecoins Is Not in the US

Paradigm has made its first investment in Brazil by leading a $13.5 million Series A round in Crown, a Brazilian stablecoin issuer, at a $90 million valuation. This follows an $8.1 million seed round just two months prior. Crown issues BRLV, a Brazilian real-backed stablecoin, which currently has a modest market presence. The investment reflects a strategic bet on both Crown’s experienced team and Brazil’s growing fintech ecosystem. Crown’s founders include former executives from major Brazilian fintech firms like Nubank and Xerpa, with strong backgrounds in law, engineering, and finance. Brazil presents a unique opportunity due to its large unbanked population, high digital adoption, and proactive central bank policies like the Pix instant payment system. Despite historical inflation issues, the country has seen improved economic stability, with growing crypto adoption—ranking fifth globally. Stablecoins are widely used for practical purposes like cross-border payments and DeFi, not just as inflation hedges. Crown’s BRLV differentiates itself by offering holders a share of government bond yields, which are around 15% in Brazil. This feature, combined with potential integration with Pix and other financial applications, positions BRLV for growth in a market ripe for digital currency innovation.

marsbit12/17 03:53

Paradigm Bets on Brazil: The New Battleground for Stablecoins Is Not in the US

marsbit12/17 03:53

HashKey Holdings Officially Lists on the Main Board of The Stock Exchange of Hong Kong

HashKey Holdings Limited (Stock Code: 3887.HK), a leading integrated digital asset company in Asia, has officially listed on the Main Board of the Hong Kong Stock Exchange. This marks the first IPO of a digital asset firm in Hong Kong, representing a significant milestone for both the company and the industry. Dr. Xiao Feng, Chairman and CEO of HashKey, emphasized the company’s commitment to compliance and its vision to build a world-class digital asset infrastructure platform, focusing on security, custody, on-chain execution, and regulatory alignment. The global offering attracted strong interest, with nine cornerstone investors participating, including UBS AM Singapore, Fidelity, and CDH Investments. Since its establishment in 2018, HashKey has operated with a compliance-first and technology-driven strategy, offering services across trading, on-chain solutions, and asset management. It aims to provide secure and regulated access to digital assets for both retail and institutional clients. Looking ahead, HashKey plans to support Hong Kong’s policy framework for tokenization of real-world assets and the development of digital financial infrastructure, reinforcing its role as a key player in the global digital asset ecosystem.

深潮12/17 03:35

HashKey Holdings Officially Lists on the Main Board of The Stock Exchange of Hong Kong

深潮12/17 03:35

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