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.

The Avalanche Foundation's move to repurchase 1.97 million AVAX tokens is a strategic decision to regain control over its token supply and reduce potential market volatility. This deal, pending court approval, may positively impact AVAX's price and reinforce investors' confidence in the project.