Avalanche Foundation to Repurchase Nearly 2M AVAX Tokens Sold to Terra in 2022

Avalanche Foundation to Repurchase Nearly 2M AVAX Tokens Sold to Terra in 2022

The Avalanche Foundation has announced plans to repurchase 1.97 million AVAX tokens, sold to the Luna Foundation Guard (LFG) in April 2022, for $45.5 million. This move comes after the collapse of Terra’s blockchain ecosystem just a month after the initial sale. While the tokens are currently worth $57.4 million, the foundation aims to secure them from Terraform Labs’ bankruptcy estate as part of a settlement agreement. The repurchase agreeme...

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