Circle Acquires Liquity, LQTY Price Surges Over 11%

On April 1, Liquity announced on social media that stablecoin giant Circle has acquired the company. According to BlockBeats, the announcement stated that the acquisition would enable Circle to offer users non-freezable stablecoins and directly distribute profits under the 'Clear Act.' Despite the announcement's timing suggesting an April Fool's joke, it led to a more than 11% increase in the price of LQTY, which is now quoted at $0.295. As of now, no further explanation has been provided by the official sources.