{"id":141602,"date":"2024-11-07T11:00:45","date_gmt":"2024-11-07T09:00:45","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=141602"},"modified":"2024-11-07T02:11:53","modified_gmt":"2024-11-07T00:11:53","slug":"avalanche-buys-back-52m-in-avax-ends-ties-with-terra","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/avalanche-buys-back-52m-in-avax-ends-ties-with-terra\/","title":{"rendered":"Avalanche Buys Back $52M in AVAX, Ends Ties with Terra"},"content":{"rendered":"
This buyback<\/a> <\/strong>follows LFG\u2019s collapse, an organization created by Terraform Labs founder Do Kwon in 2022 to support the TerraUSD (UST) stablecoin, which eventually lost its dollar peg. LFG aimed to amass a substantial reserve, including Bitcoin<\/a> <\/strong>and AVAX<\/a><\/strong>, to bolster UST\u2019s value.<\/p>\n As part of a joint strategy at the time, LFG acquired $100 million in AVAX, while the Avalanche Foundation purchased $200 million in UST and LUNA to foster cross-support between the two ecosystems.<\/p>\n The relationship faltered after UST\u2019s dramatic crash, which left Avalanche and other Terra-linked entities facing significant losses.<\/p>\n