Berachain Refutes Report, Describes VC Refund Agreement as 'Incomplete'

Berachain's Response to Refund Claims: Berachain's founder refuted reports that Brevan Howard's crypto fund, Nova Digital, was granted special refund rights on its $25 million Series B investment, stating that the information was misleading and incomplete.

Equal Treatment of Investors: Smokey The Bera emphasized that Brevan Howard participated in the Series B funding on the same terms as all other investors, dismissing claims of unique privileges associated with their investment.

Risk Mitigation Provisions: Nova Digital requested additional arrangements to protect against risks if Berachain's token generation event (TGE) failed, leading to standard clauses in their agreement that are common in the industry.

Current Market Performance: Despite challenging market conditions, Nova has increased its investment in Berachain, holding both Series B tokens and additional tokens, even as the BERA token has seen a significant decline of approximately 93% from its peak.