Wormhole proposes to buy back Stargate for at least 120 million $USDC

Wormhole Foundation announced that it has finalized the funding and made an offer to buy back Stargate at a starting price of at least 120 million USD in USDC.

This deal is higher than the 110 million USD that LayerZero had proposed earlier.

Wormhole stated that this is a completely cash acquisition, aimed at providing $STG holders with maximum certainty and immediate liquidity, with no delays and no conversion risks.