Avalanche Foundation Moves to Repurchase AVAX Tokens from Luna Foundation Guard

The post Avalanche Foundation Moves to Repurchase AVAX Tokens from Luna Foundation Guard appeared first on Coinpedia Fintech News

The Avalanche Foundation has reached an agreement to buy back all AVAX tokens previously sold to the Luna Foundation Guard (LFG) in April 2022. This repurchase is pending approval from the Bankruptcy Court. This strategic move ensures that the LFG does not violate the original terms regarding the tokens’ usage. It also protects the tokens from the complexities of bankruptcy liquidation, returning 1.97 million AVAX tokens to the Foundation’s holdings. This action will further strengthen the Foundation’s efforts to foster growth and development within the Avalanche ecosystem.