LayerZero Buys Back FTX / Alameda Stake

Bryan Pellegrino the Co-Founder and CEO of LayerZero Labs tweeted on 11th November that they’ve structured an agreement to buy back 100% out of FTX / FTX Ventures / Alameda equity positions, token warrants and all other agreements with LayerZero.

LayerZero Labs also purchased the locked $STG tokens from the community auction run by Alameda and will be raising a proposal to the LayerZero community for the transfer of the tokens to the Stargate Foundation and let the Stargate community decide what to do with the tokens.

You can check out the original tweet by Bryan here and the affirmation by 0xMaki here.

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