Wormhole Challenges LayerZero in Stargate Acquisition Bid Amid $345M TVL Debate

The cross-chain protocol Stargate is at the center of an acquisition battle between Wormhole and LayerZero. Wormhole has challenged LayerZero's initial $110 million bid, arguing it undervalues Stargate's significant assets and market potential. Wormhole is preparing a more competitive offer, requesting a pause in the ongoing voting process to finalize its proposal.