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Luna Foundation to Add $100 Million in AVAX to the UST Decentralized Forex Reserve – Bitcoin News

Following the Luna Foundation Guard’s (LFG) purchase of 5,040 bitcoin on Wednesday, the following day the Singapore-based non-profit announced it will be acquiring $100 million avalanche (AVAX) tokens. LFG detailed on Thursday that the purchase is meant to strategically align the Terra network with Avalanche ecosystems. LFG to Add $100 Million

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Terra Backers Buy $200M in AVAX Tokens, Bolstering Crypto Reserves Beyond BTC

“AVAX is an excellent reserve asset to complement bitcoin [BTC] in the LFG treasury,” Ava Labs President Jon Wu told CoinDesk via Telegram. “This is just the beginning for these two communities together. We’ll see more assets, applications, and novel subnet collaborations flourish out of this new connection.” Original Source

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