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Avalanche Foundation to Repurchase Tokens Sold to Terra's LFG in 2022 Deal, Pending Court Approval

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$LUNA
$AVAX
The Block
369Words
Oct 13, 2024

In April 2022, the $Luna Foundation Guard purchased $100 million worth of Avalanche's $AVAX tokens. However, the collapse of the Terra ecosystem put the future of the tokens into question. Now, the Avalanche Foundation has negotiated a deal to repurchase the tokens from Terraform Labs' bankrupt estate. The agreement is pending court approval.

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