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 move by the Avalanche Foundation marks a significant step in consolidating ownership and reducing market volatility for the AVAX token. Repurchasing the tokens previously sold to LFG prior to 2022 will not only alleviate potential downward pressure but also signal confidence in the project's long-term prospects.