Avalanche repurchases US$52 million in AVAX tokens from Luna Foundation "
Internet reports that the Avalanche Foundation has obtained court approval to repurchase approximately US$52 million in AVAX tokens from the bankrupt Luna Foundation Guard, officially ending its relationship with the Terra project. The repurchased AVAX tokens will be used to support the growth of the Avalanche ecosystem, including providing project funding and promoting community development. The Luna Foundation was founded by Do Kwon to support TerraUSD stablecoins, but its collapse triggered a chain reaction in the market.
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