According to Foresight News, the Avalanche Foundation announced that it has reached an agreement to repurchase all 1.97 million AVAX tokens sold to the LUNA Foundation (LFG) in April 2022, and is currently awaiting approval from the bankruptcy court. This move ensures that LFG does not violate the restrictions on the use of tokens in the original agreement and protects the tokens from the complexity of liquidation by the bankruptcy trustee, while returning 1.97 million AVAX to the holders of the foundation.
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Avalanche to buy back 1.97 million AVAX tokens previously sold to LFG
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AVAX
51.85
+2.97%
LUNA
0.566
-4.60%
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