Wormhole Could Submit Competing Bid for Stargate After LayerZero’s $110M Offer Spurs STG Rally
The post Wormhole Could Submit Competing Bid for Stargate After LayerZero’s $110M Offer Spurs STG Rally appeared on BitcoinEthereumNews.com. Wormhole Foundation is formally contesting LayerZero’s $110M Stargate acquisition, arguing the bid undervalues Stargate’s treasury and protocol potential; Wormhole seeks a pause to prepare a competitive offer and may reshape cross-chain governance outcomes for STG token holders. Wormhole officially opposes LayerZero’s $110M Stargate acquisition proposal. Wormhole says the offer undervalues Stargate’s treasury (~$92M) and long-term cross-chain utility. Market reaction: STG and W tokens rallied; governance vote timing and potential rival bids will shape price and control. LayerZero Stargate acquisition contested by Wormhole Foundation; read analysis of STG, W, ZRO impacts and next steps — follow updates from COINOTAG. What is the dispute over LayerZero’s $110M Stargate acquisition? The dispute centers on LayerZero’s $110M offer to convert circulating STG tokens to ZRO and Wormhole Foundation’s formal opposition. Wormhole argues this valuation fails to reflect Stargate’s treasury and cross-chain strategic value and has requested a pause to prepare a competing bid. How did markets react to the Wormhole Foundation challenge? Crypto markets showed immediate volatility after Wormhole’s announcement. STG and W tokens experienced rallies, while LayerZero’s ZRO saw modest upside. Traders priced in the chance of a higher offer or prolonged governance action. Stargate’s treasury is publicly estimated at roughly $92 million in on-chain disclosures. ‘, ‘
The post Wormhole Could Submit Competing Bid for Stargate After LayerZero’s $110M Offer Spurs STG Rally appeared on BitcoinEthereumNews.com.
Wormhole Foundation is formally contesting LayerZero’s $110M Stargate acquisition, arguing the bid undervalues Stargate’s treasury and protocol potential; Wormhole seeks a pause to prepare a competitive offer and may reshape cross-chain governance outcomes for STG token holders. Wormhole officially opposes LayerZero’s $110M Stargate acquisition proposal. Wormhole says the offer undervalues Stargate’s treasury (~$92M) and long-term cross-chain utility. Market reaction: STG and W tokens rallied; governance vote timing and potential rival bids will shape price and control. LayerZero Stargate acquisition contested by Wormhole Foundation; read analysis of STG, W, ZRO impacts and next steps — follow updates from COINOTAG. What is the dispute over LayerZero’s $110M Stargate acquisition? The dispute centers on LayerZero’s $110M offer to convert circulating STG tokens to ZRO and Wormhole Foundation’s formal opposition. Wormhole argues this valuation fails to reflect Stargate’s treasury and cross-chain strategic value and has requested a pause to prepare a competing bid. How did markets react to the Wormhole Foundation challenge? Crypto markets showed immediate volatility after Wormhole’s announcement. STG and W tokens experienced rallies, while LayerZero’s ZRO saw modest upside. Traders priced in the chance of a higher offer or prolonged governance action. Stargate’s treasury is publicly estimated at roughly $92 million in on-chain disclosures. ‘, ‘
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