BlockBeats News, November 25th, Smokey the Bera, Co-Founder of Berachain, responded to the news on social media regarding “Berachain’s alleged $25 million refund commitment to Nova Digital in the B-round financing,” stating that the information is “neither accurate nor complete.”
Smokey the Bera clarified the details of Brevan Howard’s investment agreement: Brevan Howard, through its Abu Dhabi office’s Nova Fund, co-led Berachain’s B-round financing a year ago, with investment terms identical to other investors. Nova’s compliance team requested additional terms to hedge against the risk of TGE failure and failure to list, therefore, both parties signed an additional commercial agreement, including a commitment to provide liquidity post-network launch.
Smokey the Bera emphasized that Nova remains one of Berachain’s largest token holders, potentially even the largest. Holding locked BERA tokens from the B-round financing and liquid BERA tokens purchased from the open market, Nova has continued to accumulate amidst market fluctuations.
