⇗ LayerZero Launches Into the Multi-chain Universe with $110M Stargate Acquisition
The recent series of events in the cryptocurrency industry has brought two key players into the spotlight - LayerZero and Wormhole . LayerZero,...
The LayerZero foundation stands as an active player in the crypto sphere, proposing bold acquisitions and mergers. A significant mention is the $110 Million acquisition plan for Stargate, a cross-chain bridge platform, which boosted the value of both LayerZero's ZRO tokens and Stargate's STG tokens. LayerZero aims to use a token swap deal to retire the STG tokens and fully integrate Stargate's cross-chain infrastructure into its network. The 1:0.08634 Token Swap was also proposed, causing price surges for both tokens and a price surge in the ZRO market.
A negative response prompted from the Stargate community, rejecting the $138M buyout offer to preserve their DAO's autonomous operation and fee-sharing model. LayerZero was not deterred and also proposed a Token Merger deal.
Announcing an Airdrop for ZRO, LayerZero faced a struggle with its token price amidst controversies and token unlock pressure. LayerZero's acquisition range stretches beyond Stargate. Global private equity firm Advent acquired LayerZero Power Systems for $1 billion to boost their mission-critical power infrastructure for data centres.
LayerZero's strategic alignments drew massive attention, notably a $55M investment from leading venture capital firm Andreessen Horowitz. LayerZero's strategic cross-chain collaborations were extended to TRON, Tether, and recognisable gaming company Ubisoft, among others.
LayerZero News Analytics from Tue, 12 Nov 2024 08:00:00 GMT to Wed, 13 Aug 2025 19:18:49 GMT - Rating 6 - Innovation 8 - Information 7 - Rumor 4
