Berachain challenges portrayal of $25M reimbursement agreement with Brevan Howard

Berachain's Response to Refund Report: The founder of Berachain criticized a report claiming that Brevan Howard's Nova Digital was granted a $25 million refund right, labeling it as "incomplete" and "inaccurate."

Investment Terms Clarification: Smokey The Bera clarified that Brevan Howard participated in Berachain's Series B fundraising under the same terms as all other investors, and the side letter was a standard provision for risk management.

Nova's Role and Agreements: Smokey explained that Nova requested additional arrangements to protect against potential failures in Berachain's token generation event, which led to the side letter agreement.

Current Status of BERA Token: The BERA token has significantly decreased in value, currently trading at $1.05, down 93% from its peak of $14.83 since its launch in February.