Avalanche (AVAX) Foundation Secures Agreement to Repurchase 1.97 Million Tokens from LUNA Foundation

As reported by COINOTAG on October 12, the Avalanche Foundation has finalized a pivotal agreement to reacquire 1.97 million AVAX tokens that were previously sold to the LUNA Foundation (LFG) back in April 2022. This strategic move is now pending endorsement from the relevant bankruptcy court. The arrangement is designed to ensure strict compliance with the original stipulations surrounding the use of these tokens, thereby safeguarding them from the unpredictable dynamics of liquidation that could be instigated by the bankruptcy trustee. Ultimately, this initiative aims to restore 1.97 million AVAX tokens back into the hands of the foundation’s holders, reinforcing confidence in the asset’s stability amid ongoing regulatory challenges in the crypto landscape.