Berachain co-founder responds to "Nova Digital has a $25 million investment refund right: The report is neither accurate nor complete, and Nova remains one of the largest token holders."

The co-founder of Berachain, Smokey the Bera, responded on social media to reports that "Berachain was exposed for providing a $25 million refund right to Nova Digital in its Series B funding," stating that the report is "neither accurate nor complete."

Smokey the Bera clarified the details of Brevan Howard's investment agreement: Brevan Howard co-led Berachain's Series B funding a year ago through its Nova fund in Abu Dhabi, with investment terms identical to those of other investors. Nova's compliance team requested additional terms to mitigate the risks of TGE failure and failure to list, leading both parties to sign an additional commercial agreement that includes a commitment to provide liquidity post-network launch.

Smokey the Bera emphasized that Nova remains one of Berachain's largest token holders, and may even be the largest holder. They hold locked BERA tokens obtained from the Series B funding and liquid BERA tokens purchased from the open market, continuously increasing their holdings amid market fluctuations.