The post Wormhole Foundation plans to compete with LayerZero for Stargate acquisition appeared on BitcoinEthereumNews.com.

Key Takeaways Wormhole Foundation is set to submit a rival bid for the Stargate protocol, directly competing with LayerZero’s $110 million offer. Stargate has shown rapid growth with $4 billion in bridge volume and $345 million in TVL, according to the Foundation. The Wormhole Foundation, the entity dedicated to supporting the growth of the Wormhole ecosystem, announced today that it plans to submit a competing bid for the acquisition of the Stargate bridge and its STG tokens. At the WF, we have respect for the @StargateFinance protocol, its team, and especially its holders. Stargate is a leader in multichain asset transfers. That’s why we’re stepping up with our intent to acquire Stargate – to ensure holders get the fair deal they deserve. — Wormhole Foundation (@WormholeFdn) August 20, 2025 The move would challenge the LayerZero Foundation, which put forward a $110 million deal last week to acquire the protocol through a token swap of ZRO for STG. The Wormhole Foundation stated that LayerZero’s proposal undervalues Stargate, considering the protocol’s strong growth, with $92 million in treasury assets, $345 million in total value locked (TVL), and over $4 billion in bridge volume in July. “STG holders deserve better,” the Wormhole Foundation said in a statement. “The current bid undervalues the protocol’s assets, brand, codebase, and team. We’re prepared to submit a meaningfully higher offer, and we believe a competitive process will drive even more value for everyone involved.” The Wormhole Foundation believes that a union of Wormhole and Stargate would create a market-leading force in cross-chain infrastructure. The partnership would drive greater transaction volumes, stronger revenues, and enhanced ecosystem resiliency, resulting in long-term value for both STG and W holders. “Stargate brings deep, unified liquidity pools and proven user demand, while Wormhole commands broad ecosystem integration across dozens of blockchains and…

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Filed under: News - @ August 20, 2025 6:29 pm