Based on Bitcoin.com, Berachain co-founder Smokey the Bera has refuted recent reports that the project granted a refund right to co-lead investor Brevan Howard Digital’s Nova fund on its $25 million Series B stake. The co-founder described the coverage as 'inaccurate and incomplete,' stating the clause was a compliance measure tied to Nova’s liquid fund strategy, not investor protection. Documents revealed the Nova fund could recoup its investment for up to a year after the token generation event (TGE) on Feb. 6, 2025. Smokey accused the article of being influenced by 'disgruntled ex-team members' and clarified that Nova remains a major tokenholder and liquidity provider. The BERA token is currently trading near $1.02, significantly below Nova’s $3 entry price, raising questions about the fund’s potential to exercise the refund right before the 2026 deadline.
Berachain Co-Founder Denies Refund Right Claims, Calls Report 'Inaccurate'
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