Berachain’s founder disputes reports that Brevan Howard had special refund privileges, calling them inaccurate. Nova Digital, Brevan’s fund, was given a one-year refund option on its $25 million investment in Berachain’s Series B. Berachain’s TGE occurred on Feb. 6, giving Nova until Feb. 6, 2026, to claim a refund.

Smokey The Bera, Berachain’s founder, clarified that Brevan Howard invested under the same terms as other investors in the Series B fundraise. Nova requested additional provisions in case Berachain failed to TGE and get listed, leading to extra commercial agreements to provide liquidity on the network. Nova is a significant Berachain tokenholder.

The BERA token, issued by Berachain, has dropped 93% from its peak of $14.83 to $1.05. Smokey emphasized that Nova is a key liquidity provider and holds both locked BERA from Series B and additional BERA from the open market. Brevan Howard did not respond to requests for comment.

Read more at Cointelegraph: Berachain Claims Report on VC Refund Deal ‘Incomplete’