Avalanche Foundation To Repurchase AVAX Tokens From LUNA Foundation

According to Foresight News, the Avalanche Foundation has announced an agreement to repurchase all 1.97 million AVAX tokens sold to the LUNA Foundation (LFG) in April 2022. The transaction is currently pending approval from the bankruptcy court. This move aims to ensure that LFG does not violate the original agreement's restrictions on the use of the tokens. Additionally, it seeks to protect the tokens from the complexities of liquidation by the bankruptcy trustee. Once approved, the 1.97 million AVAX tokens will be returned to the holders of the foundation.