ChainCatcher news, according to The Block, the Avalanche Foundation announced that it has completed the buyback of 1.97 million AVAX tokens held by the Luna Foundation, valued at approximately $52 million, officially ending its partnership with the collapsed Terra blockchain.This buyback was approved by the bankruptcy court, concluding the token redemption plan of the Avalanche Foundation since the failure of Terra. The Avalanche Foundation plans to use the funds from this buyback for community incentives, technology incubators, and ecosystem development, further promoting the continuous growth and innovation of the Avalanche network.

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.

ChainCatcher news, according to Arkham data monitoring, the address of Luna Foundation Guard transferred approximately $95 million worth of cryptocurrency to a new wallet today, including the transfer of 1.974 million Avalanche's AVAX tokens (approximately $71.2 million) and 39,500 BNB (approximately $23.5 million) to a new address starting with "0x1346", with the aim of enhancing the security of LFG funds.

ChainCatcher news, according to Arkham monitoring, the address marked as "Luna Foundation Guard" transferred 1.974 million AVAX (approximately 71.19 million USD) to an address starting with 0x134 fifteen minutes ago.