The Avalanche Foundation has decided to buy back 1.97 million $AVAX from Terraform Labs, otherwise known as the Luna Foundation Guard (LGF).
In April 2022, the foundation sold the tokens for $45.50 million. Today, those tokens are worth nearly $60 million. On October 11, the Avalanche Foundation announced that it had repurchased the tokens and is waiting for approval from the US Bankruptcy Court in Delaware.
