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acquisition

Stargate price surges as Wormhole floats acquisition bid

by admin August 20, 2025

Stargate price rose sharply as the Wormhole Foundation announced its intention to enter a bidding war for the cross-chain protocol.

Summary

Stargate price jumped by more than 10% amid news that Wormhole Foundation wants to acquire the cross-chain protocol.
LayerZero has bid $110 million for the protocol, but Wormhole feels this undervalues Stargate.

The price of Stargate (STG) jumped more than 10% to climb from lows of $0.1633 and hit $0.182 across crypto exchanges on Aug. 20.

STG, native to the cross-chain protocol Stargate, had dipped in the wake of the broader crypto downturn that saw top altcoins crash to support levels on Tuesday, Aug. 19.

However, as Bitcoin (BTC) bid to bounce above $114k and Ethereum (ETH) reclaimed the $4,300 level, Stargate’s price shot up. The double digit gains for STG however coincides with another development – a key announcement from the Wormhole Foundation.

Wormhole Foundation wants to acquire Stargate

Stargate has attracted the attention of Wormhole Foundation, the entity supporting the Wormhole (W) ecosystem.

Specifically, it believes it can offer a better deal if it acquires Stargate instead of LayerZero (ZRO).

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

On Aug. 11, LayerZero outlined a bid to acquire Stargate, and on Aug.17, Stargate announced that a snapshot for the proposed acquisition was live.

Terms include a figure of $110 million, with all circulating STG set to be swapped for ZRO, a revenue-sharing model, and the transition of Stargate operations to the LayerZero Foundation.

Now, the Wormhole Foundation says Stargate should pause the snapshot and allow for a competitive bidding process that will offer a deal that reflects Stargate’s worth and growth potential.

LayerZero’s offer of $110 million in ZRO for about $76.47 million in stablecoins and $15.9 million in ETH, and the “permanent capture of all future protocol revenue,” is low for Stargate, the Wormhole Foundation contended.

“Treasury alone is ~$92M, excluding STG tokens, yet the proposed deal hands over assets and ongoing economic upside for only $110M in token consideration. It doesn’t create a compelling offer, which values Stargate’s ongoing business at an unreasonably low number,” they noted.

Stargate protocol growth

In requesting a pause to the snapshot, the platform said its request is because STG holders deserve to get a better deal.

“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,” WF wrote.

Stargate’s snapshot vote was scheduled to end on August 24 at 00:15 a.m. GMT.

The STG token traded to highs of $4.28 in April 2022, but has struggled to hit these highs since. However, the Stargate protocol has experienced notable growth, with bridge volume up 10x since July 2024 and the protocol’s total value locked hitting $345 million.

Stargate has gone live across more than 80 chains.

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August 20, 2025 0 comments

GameFi Guides

BlackRock Resumes Ethereum Acquisition After Single Sell-Off

by admin June 25, 2025

Just a day after the world’s largest asset manager, BlackRock, stunned the crypto community with a massive Ethereum sell-off attempt involving 8,172 ETH, the investment firm is back at it again with a new ETH buy, according to the latest update from data analytics platform Lookonchain.

According to the data provider, BlackRock withdrew a total of 11,185 ETH from Coinbase Prime in less than an hour. The purchase, which happened in two separate transactions, was worth about $27.2M per ETH’s price at the time of purchase.

The first-ever sell-off since BlackRock embarked on its deliberate decision to continuously acquire ETH tokens happened yesterday when ETH price fell harder, dropping far below the crucial support level of $2,500.

Meanwhile, the firm made another ETH deposit to Coinbase Prime about five hours prior to the latest ETH buy. The second sell-off attempt involved over 10,500 ETH worth a total of $24.15 million.

Source: Lookonchain

This saw BlackRock breaking its 30 consecutive days of ETH acquisition with two massive sell-offs, which has triggered debates among market participants about whether the firm was only responding to the market volatility or selling off its holdings.

Although the reason behind the deposits was not disclosed, the general narrative behind the transfer of large assets like this to an exchange suggests a move to sell by the holder.

While the token had resumed a sharp resurgence a few hours after this shocking move, there were speculations that the Ethereum deposits made by BlackRock earlier could be the firm’s attempt to rebalance its portfolio.

Strategy’s Michael Saylor Shrugs Off Lawsuit, Signals Next Bitcoin Acquisition

by admin June 23, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

According to reports, MicroStrategy (rebranded to Strategy) CEO Michael Saylor dropped another hint that his company is ready to add more Bitcoin to its already massive stash. He shared a simple chart on X with the phrase “Nothing Stops This Orange.”

It wasn’t some marketing slogan. It was a signal. Strategy now holds over 592,000 BTC, valued at nearly $60 billion, with Bitcoin trading just under $101,000. Short tweets from Saylor have sparked fresh buying runs before. This time could be no different.

Michael Saylor Teases New Bitcoin Buy

Michael Saylor’s cryptic post is more than a rallying cry for crypto fans. It follows a string of similar hints that led Strategy to pick up large chunks of Bitcoin at key price dips.

Nothing Stops This Orange pic.twitter.com/NwtiXWl4MT

— Michael Saylor (@saylor) June 22, 2025

Based on history, traders and investors watch his every move. He’s built a reputation for turning a single line on social media into a multi-million-dollar acquisition. If past patterns hold, we could see the company locking in more BTC by mid-year.

Lawsuit Accuses Execs Of Misleading Investors

Last Friday, a shareholder filed a derivative suit in Virginia federal court. Abhey Parmar claims that Saylor, CEO Phong Le, CFO Andrew Kang and four board members failed in their duty.

According to the complaint, they “made materially false and misleading statements” about a January accounting change. The suit says the team downplayed the impact and risk of Bitcoin’s wild price swings before the Q1 report.

Bitcoin is currently trading at $101,422. Chart: TradingView

New Accounting Rule Triggers $6 Billion Loss

Strategy adopted a Financial Accounting Standards Board rule that kicked in a month earlier. The switch let companies value crypto holdings at estimated market prices. It backfired for Strategy in April.

The company recorded a $5.9 billion unrealized loss on Bitcoin, and its shares slid nearly 10% in the days after the results. Investors were caught off guard by how big the hit turned out to be.

Source: Google Finance

Insider Sales And Stock Recovery

The lawsuit also highlights nearly $32 million in stock sales by top execs before the loss became public. Parmar argues those sales came while the share price was “artificially inflated.”

Still, Strategy shares have clawed back most of their losses. They jumped from a low of just under $237 in early April to up to nearly 28% so far this year. That rebound shows many traders are still betting on Saylor’s long-term vision.

Featured image from Unsplash, chart from TradingView

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June 23, 2025 0 comments

Gaming Gear

Apple is reportedly considering the acquisition of Perplexity AI

by admin June 22, 2025

Apple’s executives are thinking of acquiring Perplexity AI both to get more talent and to be able to offer an AI-based search engine in the future, according to Bloomberg. Adrian Perica, Apple’s head of mergers and acquisitions, has reportedly already talked about the idea with services SVP Eddy Cue and the company’s top decision-makers with it comes to its AI efforts. It’s early stages, however: Apple has yet to talk to Perplexity about a bid, and the internal talks may not even lead to a formal offer.

The executives also reportedly discussed an alternative, wherein instead of buying Perplexity outright, it’ll team up with the AI company instead. Either way, the idea is to develop an AI search engine powered by Perplexity and to integrate Perplexity’s technology into Siri. While Apple has yet to make a formal offer, Bloomberg says it met several times with Perplexity over the past few months.

In May, Cue revealed that Apple discussed a possible Safari-integration with Perplexity while on the stand for Google’s ongoing Search antitrust case. Cue took the stand due to Apple’s long-standing deal with Google to make its search engine the default on the iPhone. (In turn, Apple gets billions of dollars a year — $18 billion in 2021 — from the arrangement.) Cue didn’t share any definitive plans, however, including the possibility of an acquisition.

If regulators order Apple to end its partnership with Google, purchasing Perplexity would make it easier for the company to develop an AI-based search engine. In addition, it would allow the company to acquire talent needed to be able to catch up with other companies when it comes to artificial intelligence. Apple, like Meta, has been scouting for new AI talent. Bloomberg says it’s even competing against the Facebook owner to hire Daniel Gross, the founder of AI company Safe Superintelligence Inc. The company does seem to need help to be able to release the AI features it wants to provide its users. A few months ago, for instance, Apple delayed the rollout of a more powerful Siri that was a key component of its original pitch for Apple Intelligence.

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June 22, 2025 0 comments

Esports

Nexon reportedly considering acquisition bid from Tencent

by admin June 18, 2025

Tencent is reportedly considering a deal to acquire Nexon.

The Chinese megacorp – which recently struck up a deal with Ubisoft by developing a new operating model and subsidiary following a $1.25bn cash “injection” – shows no sign of slowing its acquisition business, with claims it “reached out to the family of Nexon’s late founder Kim Jung-ju to discuss the possibility of an acquisition.” Nexon’s market value is thought to be around $15 billion.

Bloomberg reports Kim’s family is considering the deal and has been “speaking to advisers and evaluating options,” according to sources close to the family. It’s thought Tencent is looking for “evergreen” franchises with established communities and strong revenue potential.

Neither Tencent nor Nexon has opted to comment publicly on the plans thus far.

As well as its recent deal with Ubisoft, Tencent has also recently increased its stake in FromSoftware parent company Kadokawa, Kuro Games, Wangyuan Shengtang, the Beijing-based developer behind action-RPG series Swords of Legends (or ‘Gujian’ as it is known in China), and loaned €15 million to Alan Wake 2 developer, Remedy.

Last week, Tencent won after a court found leaker Xiaopang Commentary had infringed the IP rights of Peacekeeper Elite, the Chinese version of PUBG Mobile.

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June 18, 2025 0 comments

Crypto Trends

Tencent exploring MapleStory developer Nexon acquisition

by admin June 12, 2025

Tencent, a Chinese technology and holding company with a global footprint, is reportedly exploring the possibility of acquiring game developer and publisher Nexon.

Representatives from the tech company contacted the family of Nexon founder Kim Jung-ju to explore a potential deal, but no concrete terms have been reached and a deal is not guaranteed, according to Bloomberg.

Nexon is the South Korean video game developer behind the MapleStory series, a massively multiplayer online role-playing game (MMORPG) that first gained popularity in the early 2000s as a traditional PC game.

Web3 gaming continues to be a closely watched use case for blockchain technology as the ability to give players ownership over in-game assets could create an entirely new asset class and create tens of billions of dollars in capital.

MapleStory gameplay. Source: MapleStory

The company integrated blockchain technology in two different installments of the series, MapleStory N and MapleStory Universe, in May 2025, allowing users to collect in-game items and rewards in the form of non-fungible tokens (NFTS).

Related: MapleStory revives Avalanche, tops 1M daily transactions twice in a week

Interest in Web3 gaming surges, but still far from mainstream

According to a February 2025 report from DappRadar, blockchain gaming activity surged by roughly 368% year-over-year in January 2025, driven by games like Off The Grid and the then-upcoming MapleStory N.

Off The Grid is a AAA shooter, published by Gunzilla Games, that features console-level graphics and gameplay similar to that of traditional video game blockbusters produced by major game studios.

This represented a significant departure from traditional Web3 games that typically feature simple gameplay mechanics, cartoonish graphics, and a focus on player rewards rather than robust gameplay.

Despite the initial spike in player interest that started in late 2024, Web3 gaming activity declined by 10%, reflected by a drop in daily unique active wallets, according to DappRadar.

While the crypto gaming sector remains healthy and titles such as MapleStory and Off The Grid reflect a shift to higher quality games focused on player experience, Web3 gaming still faces several headwinds.

Chief among these impediments to widespread Web3 gaming adoption are the technical barrier to entry of setting up a blockchain wallet and the traditional gaming community’s aversion to play-to-earn games and other tactics designed to fuse gaming and money.

Magazine: Can Off the Grid survive Steam’s crypto ban? Rage over Maplestory cheaters: Web3 Gamer

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June 12, 2025 0 comments

NFT Gaming

Ripple CEO Brad Garlinghouse Dispels Circle Acquisition Rumors

by admin June 4, 2025

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In a Tuesday post on social media site X (formerly Twitter), Georgetown Law professor Chris Brummer shared insights from a conversation with Brad Garlinghouse, the CEO of Ripple, shedding light on the blockchain payment firm’s strategic direction and key initiatives.

Garlinghouse Denies Pursuing Circle Acquisition

During their exchange, Garlinghouse made a firm statement asserting that Ripple had not actively pursued an acquisition of Circle, the issuer of the market’s second largest stablecoin by trading volume, USDC.

While nuances in the discussion hinted at potential alternative price points for a prospective offer, Garlinghouse’s primary message remained clear: Ripple was focused on its own trajectory and not considering acquisitions, despite Ripple’s recent acquisition of Hidden Road pointing towards broader ambitions.

The acquisition of Hidden Road by Ripple was framed as more than a mere transaction. Ripple is positioning its RLUSD stablecoin as collateral on its ledger, reflecting a strategic move towards solidifying its infrastructure.

Garlinghouse also discussed Ripple’s engagement with the United Arab Emirates (UAE) regarding tokenized real estate, illustrating a tangible shift in certain regions where tokenization is evolving from theory to practical implementation, particularly within premium asset classes.

Ripple Charts New Course

According to Brummer, Garlinghouse’s vision for Ripple seemed to transcend a simple replacement of traditional finance with crypto. Instead, the firm appears to be positioning itself at the forefront of a hybridized financial landscape, where tokenized assets, stablecoins, and traditional financial institutions coexist and interact.

This strategic positioning suggests a future where acquisitions extend beyond conventional entities to encompass prime brokerages, fiat on-ramps, and payment processors, bridging the gap between the old and the new in the financial realm.

Meanwhile, in a parallel development, Circle, the issuer of the widely-used USDC stablecoin, announced an upward revision in the price range for its upcoming initial public offering (IPO).

The adjusted range of $27 to $28 per share, up from the initial $24 to $26, signals Circle’s confidence in investor appetite, regulatory trends, and its own standing within the stablecoin market.

At the upper end of this revised range, Circle stands to raise approximately $896 million, propelling its valuation to a substantial $7.2 billion, reflecting a bullish outlook on the future of the company amidst a dynamic cryptocurrency landscape.

The daily chart shows XRP’s price recovery over the past few days. Source: XRPUSDT on TradingView.com

At the time of writing, XRP, the token associated with Ripple Labs, is trading at $2.24. It has consolidated between this level and $2.1 for the past week while being unable to find the catalyst needed to send the token near the $3 mark for the first time in four months.

Compared to Bitcoin’s latest uptrend, which saw it reach a new all-time high, this lagging price action leaves the XRP price over 33% below its record price of $3.40, according to CoinGecko data.

Featured image from DALL-E, chart from TradingView.com

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June 4, 2025 0 comments

Crypto Trends

Bitstamp Acquisition: Robinhood Gains Over 50 Global Crypto Licenses

by admin June 4, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Financial crypto services platform firm Robinhood (HOOD) has officially wrapped up its $200 million acquisition of crypto trading platform Bitstamp, founded in 2011 and based in Luxemburg.

The all-cash deal, first announced last year, provides Robinhood with an immediate international presence, obtaining over 50 active crypto licenses across Europe, the UK, and Asia.

How Robinhood Gains A New Competitive Edge

This acquisition not only enhances Robinhood’s regulatory standing but also grants access to an established institutional client base that the retail trading platform has previously lacked.

According to Johann Kerbrat, General Manager of Robinhood Crypto, the deal is more about synergy than a complete pivot. “We are one of the largest retail marketplaces in the US,” he noted, emphasizing that combining the strengths of both businesses will allow Robinhood to enter new markets without starting from scratch.

Notably, the deal with Bitstamp brings features such as order books, crypto-as-a-service offerings, advanced APIs, and lending and staking options, which are crucial for institutional engagement.

Robinhood, which launched its crypto trading platform in 2018 and played a significant role in the meme-coin frenzy of 2021, has been working to rebrand itself as a serious contender in the evolving landscape of digital asset finance.

Kerbrat pointed out that with increasing regulatory clarity from Congress, more institutions are likely to seek entry into the cryptocurrency space, and the Bitstamp acquisition provides the firm with a head start.

A Strategic Move Into Institutional Crypto Markets

Bitstamp is renowned for its deep liquidity and compliant reputation. The exchange has navigated multiple market cycles successfully and has built strong relationships with institutional partners across Europe and Asia—resources that Robinhood intends to leverage.

Kerbrat emphasized that Robinhood’s marketplace model, which does not involve matching orders, will benefit from Bitstamp’s product offerings, allowing the company to cater more effectively to active and advanced traders.

The acquisition also positions the firm advantageously in Europe, where cryptocurrency regulations are more clearly defined compared to the fragmented regulatory landscape in the US.

For now, the firm plans to maintain Bitstamp’s existing interfaces and operations while exploring deeper integration in the future. Bitstamp is already functioning behind the scenes for smart order routing through Robinhood’s institutional platform, Robinhood Ledger.

As Robinhood continues to expand, including listing new tokens and launching staking services, the Bitstamp deal arrives at a crucial juncture. The regulatory track record and licensing portfolio of Bitstamp may provide Robinhood with a buffer as it ventures into new international markets.

Kerbrat has not ruled out the possibility of further acquisitions, stating, “If we can find a way to accelerate by at least 18 months or two years, and we have a lot of great reasons to believe this is a great acquisition, it’s something that we’ll definitely look at.”

The 1D chart shows HOOD shares closing to the upside on Tuesday. Source: HOOD on TradingView.com

Following the announcement of the acquisition, HOOD’s shares have closed the day on the rise, currently valued at $71.72. This represents a 5% increase within the last 24 hours.

Featured image from DALL-E, chart from TradingView.com

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June 4, 2025 0 comments

Game Reviews

Zynga shuts down Torchlight 3 developer four years after its acquisition

by admin June 3, 2025

Echtra Games, the San Francisco-based studio behind Torchlight 3, will be shut down by its owner Zynga by the end of June.

The studio, acquired by Zynga in 2021, had been working alongside NaturalMotion on another RPG, one we’ll never see. While no specific employee count is listed on the official website, the company’s LinkedIn page lists it as having 61 employees as of writing.

IGN received an official statement confirming the news, which states, “Zynga has made the difficult decision to cease operations at its Echtra studio, ending development on future titles and reducing roles. This decision is part of a strategic realignment of the company’s resources and priorities. We will work closely with impacted employees so they are treated with the utmost respect and consideration as we navigate this difficult process.”

Echtra Games was founded in 2016 by Max Schaefer, but had a history that stretched long before that. While Echtra would make Torchlight 3 it was Runic Games, another studio founded in part by Max alongside his brother Erich, that created Torchlight and Torchlight 2.

Even earlier than that, both Schaefer brothers would team up with David Brevik to found Condor in 1993. Three years later, this team would become Blizzard North, and release the original Diablo in 1997. The team would then go on to release the excellent Diablo 2 in 2000.

Many from this team, including both brothers and Brevik among others from Blizzard North, would then go on to found Flagship Studios, releasing the rad action-RPG Hellgate London in 2007. So there’s a lot of history behind Echtra Games, a real legacy, tragically cut short today.

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June 3, 2025 0 comments

Crypto Trends

BitGo to Facilitate $100 Million XRP Acquisition

by admin June 2, 2025

Popular cryptocurrency infrastructure company BitGo will facilitate a $100 million XRP purchase for NASDAQ-listed sustainable energy company VivoPower, according to a Monday press release.

BitGo will act as the company’s over-the-counter (OTC) provider. VivoPower will also rely on BitGo for securing its XRP reserves.

Last week, VivoPower announced that it had secured $121 million to launch an XRP strategic reserve. It also added SBI Ripple Asia CEO Adam Traidman to its board of directors.

BitGo CEO Mike Belshe stated that the deal is the latest sign of “institutional momentum” in the cryptocurrency space. Meanwhile, CEO Kevin Chin has praised BitGo’s “institutional-grade” infrastructure.

As reported by U.Today, Belshe previously stated that he wanted Ripple to win against the SEC since it would result in positive regulatory developments for the cryptocurrency ecosystem.

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June 2, 2025 0 comments