Clanker Declines Rainbow Wallet Acquisition Proposal, Public Exchange Follows

The Base ecosystem is witnessing a rare public feud between two of its better-known projects: Clanker, a memecoin launchpad, and Rainbow Wallet, a popular Ethereum-based wallet provider.

The fallout began when Clanker’s founder, Jack Dishman, rejected an unsolicited acquisition proposal from Rainbow and took the matter public on X, sparking debate across the crypto community.

How the deal fell apart

According to Dishman, Rainbow first approached Clanker last month with an offer to acquire the platform. The proposal included allocating 4% of Rainbow’s upcoming $RNBW token supply to $CLANKER holders on a 1:1 basis, based on a snapshot.

Rainbow plans to launch $RNBW in Q4 2025 as part of its updated points program, and saw value in integrating Clanker’s autonomous memecoin launcher into its ecosystem.

After initial discussions, Dishman said Clanker informed Rainbow on September 18 that the deal would not move forward. He later shared on X that Rainbow threatened to publish a public letter unless Clanker reconsidered.

When Clanker again declined, Rainbow released the letter anyway, prompting Dishman to accuse the company of unprofessional behavior and end talks altogether.

“We are not excited about working at Rainbow, especially after how we were treated, and don’t plan to continue the conversations. clank clank,” he wrote.

Rainbow fires back

Rainbow countered with its own statement on X, claiming Clanker had initially agreed to the deal before abruptly pulling out. The team pointed to $CLANKER’s price surge after the proposal as evidence of community support for the transaction.

“The market has spoken clearly,” the post read, emphasizing Rainbow’s continued willingness to engage and calling on Clanker to put forward an alternative plan for token holders.

The public exchange has split opinion. Some community members criticized Dishman for walking away from what they saw as a beneficial deal. Meanwhile, others praised him for refusing to give in to what they described as Rainbow’s aggressive tactics.

Meanwhile, others support him for refusing to give in to what they described as Rainbow’s aggressive tactics.

Other Related Read/Listens

• DeFi’s Newest Darling? Everything You Should Know About Aster, the Talk of CT
• OpenVPP Issues Clarification After SEC Denies Energy Tokenization Collaboration
• Trump Slaps New York Times With $15B Lawsuit, Claims “Malicious Fabrications”