Simon Dedic, founder of Moonrock Capital, has criticized Circle's acquisition of Axelar's project team, labeling it as "another RUG." Dedic expressed disapproval over the exclusion of the Axelar Foundation and AXL token from the deal, describing the move as "criminal" and ethically questionable. He urged token founders to consider their assets as equity or to exit the market. Circle's acquisition involved Interop Labs, the project team behind Axelar, but notably did not include the Axelar network, foundation, or its token. This decision has sparked controversy and debate within the crypto community regarding the ethical implications of such acquisitions.