07 Nov 202411:20
Project update
Avalanche buys back 2M AVAX sold to Terra's LFG in 2022 deal

Avalanche buys back 2M AVAX sold to Terra's LFG in 2022 deal

A bankruptcy court has allowed the Avalanche Foundation to repurchase ~$52M worth of AVAX tokens it previously sold to the defunct Luna Foundation Guard. The current value of the sold AVAX tokens is 48% less than its original value of $100 million.