LayerZero Acquires Stargate in Bidding War, Bringing Protocol Back Under its Control

Blockchain messaging protocol LayerZero has secured the acquisition of crypto protocol Stargate after a competitive four-way bidding war. The victory came following community voting with a significant majority (95%) endorsing LayerZero’s $110 million proposal. 3 of LayerZero’s competitors also submitted last-minute bids or intentions to participate, though one bidder, Wormhole, unsuccessfully sought to delay the vote process.