Wormhole Foundation plans to compete with LayerZero for Stargate acquisition

The Wormhole Foundation is preparing to launch a higher bid for the Stargate protocol in response to LayerZero’s $110 million offer, claiming the valuation does not reflect Stargate’s robust performance.

An acquisition of Stargate would create a major entity in cross-chain infrastructure, enhancing liquidity and transaction volumes for both Wormhole and Stargate.