🚨 The #Avax Foundation has completed its repurchase of 1.97M $AVAX tokens from the defunct Luna Foundation Guard (LFG), originally acquired to support Terra.
The buyback, initially valued at $45.5M, is now worth ~$53M with AVAX trading near $27.
#LunaFoundationGuard

Avalanche Foundation to repurchase 1.97 Million $AVAX tokens from Luna Foundation Guard

The #AvalancheFoundation is set to repurchase 1.97 million #AVAX tokens from the #LunaFoundationGuard , pending approval from a bankruptcy court. This move involves all AVAX tokens sold to #LFG before April 2022, allowing the Foundation to reclaim ownership and avoid potential complications related to LFG's ongoing bankruptcy.