The Avalanche Foundation will repurchase 1.97 million AVAX tokens previously sold to the LUNA Foundation

ChainCatcher news, the Avalanche Foundation stated in a post on X that it has reached an agreement to repurchase all AVAX tokens sold to the Luna Foundation Guard (LFG) before April 2022, and is currently awaiting approval from the bankruptcy court.

This move ensures that LFG will not violate the original agreement regarding the restrictions on the use of the tokens, and protects the tokens from the complexities of liquidation by the bankruptcy trustee, while returning 1.97 million AVAX to the foundation's holdings.