The Avalanche Foundation announced via Twitter that it has reached an agreement to repurchase all AVAX tokens previously sold to the Luna Foundation Guard (LFG) before April 2022. The transaction is currently pending approval from the bankruptcy court. A total of 1.97 million AVAX tokens will be returned to the Avalanche Foundation for holding.

This repurchase agreement by the Avalanche Foundation indicates a strategic move to regain control over the AVAX tokens and potentially stabilize their value. It will be interesting to see how this transaction unfolds post-bankruptcy court approval.