Berachain Co-founder Responds to “Nova Digital Has Refund Rights” Claim: The report is neither accurate nor complete, and Nova remains one of the largest token holders.

On November 25th, Smokey the Bera, a co-founder of Berachain, responded on social media to the report that Berachain was granted a $25 million refund right to Nova Digital in Series B funding. He stated that the information was "neither accurate nor complete." Smokey the Bera clarified the details of the investment agreement with Brevan Howard: A year ago, Brevan Howard, through its Abu Dhabi office's Nova Fund, co-led Berachain's Series B funding round with investment terms identical to those of other investors. Nova's compliance team requested additional terms to mitigate the risk of TGE failure and non-listing, resulting in the signing of an additional commercial agreement, which included a commitment to provide liquidity after the network launch. Smokey the Bera emphasized that Nova remains one of the largest token holders of Berachain and may even be the largest. Holding locked BERA tokens from the Series B funding round and liquid BERA tokens purchased from the open market, Nova continues to accumulate holdings through market fluctuations.