Citing ChainThink, on November 25, it was reported that Berachain granted Brevan Howard's Nova Digital fund the right to refund its 25 million USD investment after the token generation event (TGE), without the knowledge of other investors. The terms allow the fund to reclaim the full amount within one year after the TGE, which is set for February 6, 2025. This clause means Brevan Howard's investment carries no risk, as it can either benefit from token gains or request a full refund if the token performs poorly. Four crypto-focused lawyers noted that such post-TGE refund rights are extremely rare in the industry. If exercised, it could force Berachain to raise 25 million USD to repay the fund. The fund's refund right expires on February 6, 2026.
Berachain Terms Reveal Brevan Howard's 25M USD Investment Can Be Refunded Post-TGE, Other Investors Unaware
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